10-K · February 25, 2026
Expeditors reported a Q4 beat with revenue of $2,855,000,000 and diluted EPS of $1.49, while the 10-K emphasizes scale (≈20,000 employees, 172 district offices), a service mix skewed to air (36%) and customs brokerage…
Earnings analysis · 10-Q
EXPD earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Expeditors International reported strong Q1 2026 results with revenues of $2.78 billion, exceeding expectations by 6.66%, and earnings per share of $1.71, which was a 27.61% surprise compared to estimates. However,…
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Expeditors International reported strong Q1 2026 results with revenues of $2.78 billion, exceeding expectations by 6.66%, and earnings per share of $1.71, which was a 27.61% surprise compared to estimates. However, segment analysis reveals a significant 23% decline in ocean freight revenues, while airfreight services grew by 14% and customs brokerage by 17%. Management highlights a mix of strengths and headwinds moving forward, including robust demand for customs services but trouble in ocean freight due to changing economic conditions.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.71
What stood out
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Strong Revenue Growth
Revenue reached $2.78 billion, up 4% YoY, exceeding estimates by 6.66%.
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Significant EPS Beat
EPS increased to $1.71, beating estimates by 27.61%, up 16% from the previous year.
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Airfreight Services Surge
Airfreight revenues up 14%, driven by increased tonnage from technology sector demand.
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Customs Brokerage Expansion
Customs brokerage revenues grew 17%, reflecting higher demand and complex clearances.
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Operating Income Improvement
Operating income increased 11% year-over-year.
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Return to Shareholders
$288 million returned to shareholders via common stock repurchases.
What to watch
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Ocean Freight Decline
Ocean freight revenues dropped 23% due to reduced demand and falling rates.
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Geopolitical Risks
Conflict in the Middle East may affect air and ocean freight capacities and pricing.
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Uncertain Economic Conditions
General economic volatility could impact demand and pricing in logistics.
Management's outlook
Outlook indicates robust demand for customs brokerage despite ocean freight challenges.
Earlier filings 4
10-Q · May 8, 2025
Expeditors reported a strong Q1 with revenue of $2,666,419,000 and operating income of $265,858,000, driving a 20% increase in net earnings attributable to shareholders to $203,795,000 versus Q1 2024. Cash from…
10-K · February 21, 2025
Expeditors emphasizes organic, technology-driven, non-asset logistics growth with a global district network and a single enterprise technology platform. 2024 results show diversified revenue mix (Air ~34%, Ocean ~30%,…
10-Q · November 5, 2024
Expeditors reported a strong third quarter with revenue of $3.0 billion and diluted EPS of $1.63, driven by sharp rate and volume gains in ocean and airfreight. Operating income increased to $301.5 million (up 40% YoY)…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.