Expeditors International of Washington Inc

EXPD: XNYS (USA)

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Expeditors Earnings: Air and Ocean Activity Surges on Import Pull Forward

Matthew Young

Nov 5, 2024

Expeditors International's third-quarter gross revenue surged 37% year over year—it was up 9% last quarter and down 15% in the first quarter. Revenue handily beat our forecast on significantly higher-than-expected air and ocean volume and pricing momentum driven in large part by Red Sea-related disruption (firm capacity) and shippers pulling forward peak season freight ahead of labor disruption at the East Coast ports. Strong demand growth among e-commerce end market shippers also played a role.

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Expeditors International of Washington Inc

Expeditors Earnings: Air and Ocean Activity Surges on Import Pull Forward

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