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Sep 30, 2024
Expeditors Q3 2024 Earnings Report
Expeditors' Q3 2024 earnings increased, driven by higher airfreight tonnage and ocean container volume, despite geopolitical and port disruption concerns.
Key Takeaways
Expeditors International of Washington reported a strong third quarter in 2024, with a 37% increase in revenues to $3.0 billion and a 41% increase in diluted EPS to $1.63, driven by increased airfreight tonnage and ocean container volume.
Diluted EPS increased by 41% to $1.63 compared to the same quarter of the previous year.
Net earnings attributable to shareholders rose by 34% to $230 million.
Operating income saw a 40% increase, reaching $302 million.
Revenues increased by 37% to $3.0 billion, driven by higher airfreight tonnage and ocean container volume.
Expeditors
Expeditors
Expeditors Revenue by Segment
Revenue by Segment
Airfreight Services Revenue
CapyFin.comOcean Freight Services Revenue
CapyFin.comCustoms & Other Services Revenue
CapyFin.com Forward Guidance
Expeditors anticipates potential decline in ocean rates if demand softens and capacity increases, especially if Red Sea commerce normalizes. Global freight markets and pricing are expected to remain volatile due to unpredictable events.
Positive Outlook
- Focused on servicing current customers
- Gaining market share
- Keeping costs in check
- Handling increased volumes and tonnage
- Executing well throughout the network
Challenges Ahead
- Ocean rates may decline if demand softens and capacity increases
- Global freight markets and pricing are likely to remain volatile
- Unpredictable events seem to occur with such increased regularity
- Ability to see much beyond day-to-day levels of activity remains challenging
- Geopolitical events continued to impact pricing and the flow of freight
Revenue & Expenses
Visualization of income flow from segment revenue to net income