Expeditors International Q1 Financial Performance Overview
Wednesday, 8 May 2024, 14:16
Earnings Summary: A snapshot of Expeditors International’s Q1 results
Logistics company Expeditors International of Washington, Inc. (NASDAQ: EXPD) has announced financial results for the first quarter of 2024, reporting a decrease in revenue and net income.
Key Highlights:
- First-quarter revenues dropped 15% to $2.2 billion from $2.59 billion in the corresponding period of 2023
- Net earnings per share dropped 19% year-over-year to $1.17
- Operating Income decreased 22% year-over-year to $215 million in the first quarter
Airfreight tonnage volume increased 4% year-over-year and ocean container volume increased 2% during the three months.
- Expeditors International generated $257 million in cash flow from operations in Q1 2024
- The company returned $361 million to shareholders via repurchases of common stock in Q1.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.