Categories Analysis, Industrials
Expeditors International reports double-digit growth in Q3 revenue and profit
Logistics company Expeditors International of Washington, Inc. (NASDAQ: EXPD) announced financial results for the third quarter of 2024, reporting a sharp increase in revenue and net income.
- On a per-share basis, net income attributable to shareholders increased 41% year-over-year to $1.63 in Q3
- Net income attributable to the company was $230 million in the September quarter, up 34% year-over-year
- Revenues increased 37% annually to $3.0 billion during the three months; airfreight tonnage and container volume rose 19% and 12%, respectively
- At $302 million, operating Income was up 40% compared to the prior-year period
- The company repurchased $140 million of shares during the third quarter and $603 million year-to-date
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