Expeditors International of Washington Inc

EXPD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$635.00	Hbxbp	Sqfmdvqbb

Expeditors Earnings: Air and Ocean Demand Relinquishing Pandemic Gains

Matthew Young

Aug 9, 2023

In the second quarter, Expeditors International's gross revenue plunged 51% year over year. Revenue once again fell short of our expected run rate as it's been tough to pin down a bottom given the industry is navigating such a heavy normalization phase. Recall revenue flipped negative in the fourth quarter following a few years of meteoric growth in both volume and pricing (sell rates) to shippers.

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