Expeditors International of Washington, Inc. (NYSE:EXPD) today announced third quarter 2024 financial results including the following comparisons to the same quarter of 2023:

  • Diluted Net Earnings Attributable to Shareholders per share (EPS1) increased 41% to $1.63
  • Net Earnings Attributable to Shareholders increased 34% to $230 million
  • Operating Income increased 40% to $302 million
  • Revenues increased 37% to $3.0 billion
  • Airfreight tonnage increased 19% and ocean container volume increased 12%

1Diluted earnings attributable to shareholders per share.

NOTE: See Disclaimer on Forward-Looking Statements in this release.

“We have worked hard over this past year to gain additional volumes and grow our business by winning new customers and gaining additional business with current customers,” said Jeffrey S. Musser, President and Chief Executive Officer. “These positive third-quarter results reflect those efforts in securing higher tonnage and volumes, which were further boosted as some shippers pulled freight forward out of concern over port actions and geopolitical disruptions, and in advance of fourth quarter holiday sales. Geopolitical events continued to impact pricing and the flow of freight during the quarter. Ocean transit times remained extended because carriers avoided the Red Sea and were further disrupted by prior concerns over potential port strikes. Air capacity is too scarce and costly to serve as a viable widespread alternative for most shippers.

“Strong growth in air tonnage and ocean volumes had a positive impact on all areas of our business during the quarter. Air tonnage and rates increased across all regions. Direct e-commerce continued to absorb available air freight capacity and boost rates on North Asia exports, and manufacturing relocations and sea-to-air conversions drove higher rates on exports from South Asia. Higher volumes moving through our network led to an increase in fees for customs brokerage and other ancillary services, in addition to new road freight business and growth in order management services. All in all, I would be hard pressed to point to an area of our business where our people did not perform at their highest level.

“We would again caution that our ability to see much beyond our day-to-day levels of activity remains challenging. We believe that ocean rates may decline if demand softens and capacity increases, particularly if commerce on the Red Sea returns to normal. We also believe that global freight markets and pricing are likely to remain volatile for some time. Unpredictable events seem to occur with such increased regularity as to make us wonder if disruption is the new state of normal. Regardless, we remain focused on servicing our current customers and gaining market share, while keeping costs in check.”

Bradley S. Powell, Senior Vice President and Chief Financial Officer, added, “We handled increased volumes and tonnage in the third quarter and executed well throughout our network, while keeping headcount flat and controlling operating expenses. Our measure of operating efficiency (operating income as a percentage of revenue less directly related cost of transportation and other expenses) is now back to our 30% target for the year to date. We continue to control and carefully manage our cash, while working to improve operational efficiencies and return capital to investors.”

Mr. Powell noted that the Company repurchased $140 million in common stock during the third quarter of 2024, and $603 million year to date.

Expeditors is a global logistics company headquartered in Bellevue, Washington. The Company employs trained professionals in 176 district offices and numerous branch locations located on six continents linked into a seamless worldwide network through an integrated information management system. Services include the consolidation or forwarding of air and ocean freight, customs brokerage, vendor consolidation, cargo insurance, time-definite transportation, order management, warehousing and distribution and customized logistics solutions.

Disclaimer on Forward-Looking Statements:

Certain statements contained in this news release are “forward-looking statements,” based on management’s views with respect to future events and underlying assumptions that involve risks and uncertainties. These forward-looking statements include statements regarding inflation; continued growth in air and ocean carrier capacity and the impact on rates; unpredictability in the ocean and air markets, including uncertainty due to conflicts in the Middle East and Red Sea; port actions and other labor disruptions; new capacity in the marketplace; longer ocean transit times; strong e-commerce demand in the air market; and volatile rates. Future financial performance could differ materially because of factors such as: our ability to secure higher air tonnage and ocean volumes; our ability to keep headcount and other costs in check while continuing to generate efficiency that meets our historical expectations; the alignment of our variable compensation structure with performance; our ability to enhance and bolster our network security; that management is able to grow the business and explore new areas for profitable growth; our ability to leverage the strength of our carrier relationships; the strength of our non-asset-based operating model; and our ability to remain a strong, healthy, unified and resilient organization. Geo-political risks, port actions and other labor disruptions, and the current uncertainty in the global economy could have the effect of heightening many of the other risks described in Item 1A of our Annual Report on Form 10-K, including, without limitation, those related to the success of our strategy and desire to maintain historical unitary profitability, our ability to attract and retain customers, our ability to manage costs, interruptions to our information technology systems, the ability of third-party providers to perform and potential litigation and contingencies, including risks associated with tax audits, as updated by our reports on Form 10-Q, filed with the Securities and Exchange Commission. These and other factors are discussed in the Company’s regulatory filings with the Securities and Exchange Commission, including those in “Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and the Company’s most recent Form 10-Q. The forward-looking statements contained in this news release speak only as of this date and the Company does not assume any obligation to update them except as required by law.

Expeditors International of Washington, Inc.

Third Quarter 2024 Earnings Release, November 5, 2024

Financial Summary for the three months ended September 30, 2024 and 2023 (Unaudited)

(in 000's of US dollars except share data)

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

2024

 

 

2023

 

 

% Change

 

2024

 

 

2023

 

 

% Change

Revenues

 

$

3,000,131

 

 

$

2,190,001

 

 

37

%

 

$

7,645,810

 

 

$

7,022,342

 

 

9

%

Directly related cost of transportation and other expenses 1

 

$

2,093,964

 

 

$

1,402,111

 

 

49

%

 

$

5,166,652

 

 

$

4,540,396

 

 

14

%

Salaries and other operating expenses 2

 

$

604,643

 

 

$

571,821

 

 

6

%

 

$

1,738,939

 

 

$

1,741,411

 

 

(0

)%

Operating income

 

$

301,524

 

 

$

216,069

 

 

40

%

 

$

740,219

 

 

$

740,535

 

 

(0

)%

Net earnings attributable to shareholders

 

$

229,574

 

 

$

171,353

 

 

34

%

 

$

574,195

 

 

$

594,164

 

 

(3

)%

Diluted earnings attributable to shareholders per share

 

$

1.63

 

 

$

1.16

 

 

41

%

 

$

4.04

 

 

$

3.92

 

 

3

%

Basic earnings attributable to shareholders per share

 

$

1.63

 

 

$

1.16

 

 

41

%

 

$

4.06

 

 

$

3.95

 

 

3

%

Diluted weighted average shares outstanding

 

 

141,027

 

 

 

148,001

 

 

 

 

 

142,288

 

 

 

151,619

 

 

 

Basic weighted average shares outstanding

 

 

140,417

 

 

 

147,099

 

 

 

 

 

141,540

 

 

 

150,543

 

 

 

1Directly related cost of transportation and other expenses totals Operating Expenses from Airfreight services, Ocean freight and ocean services and Customs brokerage and other services as shown in the Condensed Consolidated Statements of Earnings.

2Salaries and other operating expenses totals Salaries and related, Rent and occupancy, Depreciation and amortization, Selling and promotion and Other as shown in the Condensed Consolidated Statements of Earnings.

During the three and nine months ended September 30, 2024 we repurchased 1.2 million and 5.1 million shares of common stock at an average price of $118.47 and $119.21 per share. During the three and nine months ended September 30, 2023 we repurchased 2.6 million and 10.5 million shares of common stock at an average price of $116.29 and $113.97 per share.

 

 

Employee Full-time Equivalents as of

 

 

 

September 30, 2024

 

 

September 30, 2023

 

North America

 

 

6,920

 

 

 

6,975

 

Europe

 

 

3,838

 

 

 

3,811

 

North Asia

 

 

2,271

 

 

 

2,290

 

South Asia

 

 

1,776

 

 

 

1,709

 

Middle East, Africa and India

 

 

1,386

 

 

 

1,440

 

Latin America

 

 

780

 

 

 

753

 

Information Systems

 

 

1,303

 

 

 

1,244

 

Corporate

 

 

416

 

 

 

403

 

Total

 

 

18,690

 

 

 

18,625

 

 

 

Third quarter year-over-year percentage increase (decrease) in:

2024

 

Airfreight kilos

 

Ocean freight FEU

July

 

20%

 

8%

August

 

17%

 

14%

September

 

20%

 

15%

Quarter

 

19%

 

12%

Investors may submit written questions via e-mail to: investor@expeditors.com. Questions received by the end of business on November 8, 2024 will be considered in management's 8-K “Responses to Selected Questions.”

___________________________ NOTE: See Disclaimer on Forward-Looking Statements in this release.

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

 

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)

 

 

 

September 30, 2024

 

December 31, 2023

Assets:

 

 

 

 

Current Assets:

 

 

 

 

Cash and cash equivalents

 

$

1,293,173

 

 

$

1,512,883

 

Accounts receivable, less allowance for credit loss of $5,903 at September 30, 2024 and $6,550 at December 31, 2023

 

 

2,176,959

 

 

 

1,532,599

 

Deferred contract costs

 

 

431,640

 

 

 

218,807

 

Other

 

 

181,273

 

 

 

170,907

 

Total current assets

 

 

4,083,045

 

 

 

3,435,196

 

Property and equipment, less accumulated depreciation and amortization $624,562 at September 30, 2024 and $597,473 at December 31, 2023

 

 

468,594

 

 

 

479,225

 

Operating lease right-of-use assets

 

 

525,810

 

 

 

516,280

 

Goodwill

 

 

7,927

 

 

 

7,927

 

Deferred federal and state income taxes, net

 

 

69,789

 

 

 

63,690

 

Other assets, net

 

 

15,752

 

 

 

21,491

 

Total assets

 

$

5,170,917

 

 

$

4,523,809

 

Liabilities:

 

 

 

 

Current Liabilities:

 

 

 

 

Accounts payable

 

$

1,240,174

 

 

$

860,856

 

Accrued liabilities, primarily salaries and related costs

 

 

470,723

 

 

 

447,336

 

Contract liabilities

 

 

532,289

 

 

 

280,909

 

Current portion of operating lease liabilities

 

 

106,832

 

 

 

99,749

 

Federal, state and foreign income taxes

 

 

25,728

 

 

 

15,562

 

Total current liabilities

 

 

2,375,746

 

 

 

1,704,412

 

Noncurrent portion of operating lease liabilities

 

 

436,001

 

 

 

427,984

 

Shareholders’ Equity:

 

 

 

 

Preferred stock, none issued

 

 

 

 

 

 

Common stock, par value $0.01 per share. Issued and outstanding: 139,971 shares at September 30, 2024 and 143,866 shares at December 31, 2023

 

 

1,400

 

 

 

1,439

 

Additional paid-in capital

 

 

4,307

 

 

 

 

Retained earnings

 

 

2,540,978

 

 

 

2,580,968

 

Accumulated other comprehensive loss

 

 

(189,978

)

 

 

(192,057

)

Total shareholders’ equity

 

 

2,356,707

 

 

 

2,390,350

 

Noncontrolling interest

 

 

2,463

 

 

 

1,063

 

Total equity

 

 

2,359,170

 

 

 

2,391,413

 

Total liabilities and equity

 

$

5,170,917

 

 

$

4,523,809

 

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

 

Condensed Consolidated Statements of Earnings

(In thousands, except per share data)

(Unaudited)

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenues:

 

 

 

 

 

 

 

 

 

 

Airfreight services

 

$

986,950

 

 

$

724,331

 

 

$

2,606,647

 

 

$

2,380,405

 

Ocean freight and ocean services

 

 

1,017,618

 

 

 

560,281

 

 

 

2,240,079

 

 

 

1,851,389

 

Customs brokerage and other services

 

 

995,563

 

 

 

905,389

 

 

 

2,799,084

 

 

 

2,790,548

 

Total revenues

 

 

3,000,131

 

 

 

2,190,001

 

 

 

7,645,810

 

 

 

7,022,342

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

Airfreight services

 

 

740,356

 

 

 

516,519

 

 

 

1,923,115

 

 

 

1,707,568

 

Ocean freight and ocean services

 

 

783,827

 

 

 

387,670

 

 

 

1,675,931

 

 

 

1,277,159

 

Customs brokerage and other services

 

 

569,781

 

 

 

497,922

 

 

 

1,567,606

 

 

 

1,555,669

 

Salaries and related

 

 

450,308

 

 

 

412,505

 

 

 

1,289,901

 

 

 

1,290,911

 

Rent and occupancy

 

 

61,024

 

 

 

58,387

 

 

 

181,873

 

 

 

174,224

 

Depreciation and amortization

 

 

15,774

 

 

 

15,607

 

 

 

45,914

 

 

 

46,374

 

Selling and promotion

 

 

7,589

 

 

 

6,149

 

 

 

22,366

 

 

 

18,847

 

Other

 

 

69,948

 

 

 

79,173

 

 

 

198,885

 

 

 

211,055

 

Total operating expenses

 

 

2,698,607

 

 

 

1,973,932

 

 

 

6,905,591

 

 

 

6,281,807

 

Operating income

 

 

301,524

 

 

 

216,069

 

 

 

740,219

 

 

 

740,535

 

Other Income (Expense):

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

9,917

 

 

 

17,156

 

 

 

36,699

 

 

 

53,723

 

Other, net

 

 

973

 

 

 

(1,334

)

 

 

4,599

 

 

 

4,394

 

Other income, net

 

 

10,890

 

 

 

15,822

 

 

 

41,298

 

 

 

58,117

 

Earnings before income taxes

 

 

312,414

 

 

 

231,891

 

 

 

781,517

 

 

 

798,652

 

Income tax expense

 

 

82,488

 

 

 

61,048

 

 

 

206,040

 

 

 

206,018

 

Net earnings

 

 

229,926

 

 

 

170,843

 

 

 

575,477

 

 

 

592,634

 

Less net earnings (losses) attributable to the noncontrolling interest

 

 

352

 

 

 

(510

)

 

 

1,282

 

 

 

(1,530

)

Net earnings attributable to shareholders

 

$

229,574

 

 

$

171,353

 

 

$

574,195

 

 

$

594,164

 

Diluted earnings attributable to shareholders per share

 

$

1.63

 

 

$

1.16

 

 

$

4.04

 

 

$

3.92

 

Basic earnings attributable to shareholders per share

 

$

1.63

 

 

$

1.16

 

 

$

4.06

 

 

$

3.95

 

Weighted average diluted shares outstanding

 

 

141,027

 

 

 

148,001

 

 

 

142,288

 

 

 

151,619

 

Weighted average basic shares outstanding

 

 

140,417

 

 

 

147,099

 

 

 

141,540

 

 

 

150,543

 

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

 

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Operating Activities:

 

 

 

 

 

 

 

 

Net earnings

 

$

229,926

 

 

$

170,843

 

 

$

575,477

 

 

$

592,634

 

Adjustments to reconcile net earnings to net cash from operating activities:

 

 

 

 

 

 

 

 

Provisions for (recoveries) losses on accounts receivable

 

 

(582

)

 

 

1,411

 

 

 

1,456

 

 

 

2,316

 

Deferred income tax benefit

 

 

(1,057

)

 

 

(6,418

)

 

 

(5,680

)

 

 

(7,942

)

Stock compensation expense

 

 

9,760

 

 

 

15,879

 

 

 

47,836

 

 

 

46,962

 

Depreciation and amortization

 

 

15,774

 

 

 

15,607

 

 

 

45,914

 

 

 

46,374

 

Other, net

 

 

162

 

 

 

2,673

 

 

 

4,032

 

 

 

6,396

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

(Increase) decrease in accounts receivable

 

 

(301,167

)

 

 

(53,722

)

 

 

(647,794

)

 

 

629,205

 

Increase (decrease) in accounts payable and accrued liabilities

 

 

107,535

 

 

 

40,919

 

 

 

402,818

 

 

 

(311,990

)

(Increase) decrease in deferred contract costs

 

 

(30,657

)

 

 

(56,917

)

 

 

(216,977

)

 

 

28,870

 

Increase (decrease) in contract liabilities

 

 

50,527

 

 

 

74,701

 

 

 

254,902

 

 

 

(33,549

)

Increase (decrease) in income taxes payable, net

 

 

20,331

 

 

 

(4,017

)

 

 

13,163

 

 

 

(97,743

)

Increase in other, net

 

 

(10,580

)

 

 

(10,979

)

 

 

(1,502

)

 

 

(6,695

)

Net cash from operating activities

 

 

89,972

 

 

 

189,980

 

 

 

473,645

 

 

 

894,838

 

Investing Activities:

 

 

 

 

 

 

 

 

Purchase of property and equipment

 

 

(12,291

)

 

 

(7,993

)

 

 

(30,415

)

 

 

(28,600

)

Other, net

 

 

(225

)

 

 

10

 

 

 

(62

)

 

 

(209

)

Net cash from investing activities

 

 

(12,516

)

 

 

(7,983

)

 

 

(30,477

)

 

 

(28,809

)

Financing Activities:

 

 

 

 

 

 

 

 

Proceeds (payments) on borrowings on lines of credit, net

 

 

10,445

 

 

 

6,913

 

 

 

(5,538

)

 

 

(6,683

)

Proceeds from issuance of common stock

 

 

53,256

 

 

 

61,841

 

 

 

67,734

 

 

 

80,305

 

Repurchases of common stock

 

 

(140,031

)

 

 

(298,103

)

 

 

(602,855

)

 

 

(1,199,294

)

Dividends paid

 

 

 

 

 

 

 

 

(102,638

)

 

 

(102,263

)

Payments for taxes related to net share settlement of equity awards

 

 

 

 

 

 

 

 

(15,348

)

 

 

(19,501

)

Net cash from financing activities

 

 

(76,330

)

 

 

(229,349

)

 

 

(658,645

)

 

 

(1,247,436

)

Effect of exchange rate changes on cash and cash equivalents

 

 

20,194

 

 

 

(11,807

)

 

 

(4,233

)

 

 

(13,296

)

Change in cash and cash equivalents

 

 

21,320

 

 

 

(59,159

)

 

 

(219,710

)

 

 

(394,703

)

Cash and cash equivalents at beginning of period

 

 

1,271,853

 

 

 

1,698,587

 

 

 

1,512,883

 

 

 

2,034,131

 

Cash and cash equivalents at end of period

 

$

1,293,173

 

 

$

1,639,428

 

 

$

1,293,173

 

 

$

1,639,428

 

Taxes Paid:

 

 

 

 

 

 

 

 

Income taxes

 

$

63,046

 

 

$

61,603

 

 

$

196,649

 

 

$

306,059

 

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

 

Business Segment Information

(In thousands)

(Unaudited)

 

 

 

UNITED STATES

 

 

OTHER NORTH AMERICA

 

 

LATIN AMERICA

 

 

NORTH ASIA

 

 

SOUTH ASIA

 

 

EUROPE

 

 

MIDDLE EAST, AFRICA AND INDIA

 

 

ELIMI- NATIONS

 

CONSOLI- DATED

 

For the three months ended September 30, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

854,679

 

 

 

114,264

 

 

 

61,981

 

 

 

914,417

 

 

 

445,308

 

 

 

433,660

 

 

 

177,145

 

 

 

(1,323

)

 

 

3,000,131

 

Directly related cost of transportation and other expenses1

 

$

443,930

 

 

 

67,626

 

 

 

38,973

 

 

 

763,781

 

 

 

369,905

 

 

 

279,235

 

 

 

131,098

 

 

 

(584

)

 

 

2,093,964

 

Salaries and other operating expenses2

 

$

253,452

 

 

 

35,261

 

 

 

18,605

 

 

 

86,566

 

 

 

51,307

 

 

 

126,917

 

 

 

33,283

 

 

 

(748

)

 

 

604,643

 

Operating income

 

$

157,297

 

 

 

11,377

 

 

 

4,403

 

 

 

64,070

 

 

 

24,096

 

 

 

27,508

 

 

 

12,764

 

 

 

9

 

 

 

301,524

 

Identifiable assets at period end

 

$

2,611,417

 

 

 

192,370

 

 

 

108,985

 

 

 

727,724

 

 

 

376,283

 

 

 

863,840

 

 

 

319,627

 

 

 

(29,329

)

 

 

5,170,917

 

Capital expenditures

 

$

9,299

 

 

 

198

 

 

 

101

 

 

 

296

 

 

 

839

 

 

 

1,548

 

 

 

10

 

 

 

 

 

 

12,291

 

Equity

 

$

1,628,893

 

 

 

35,825

 

 

 

42,670

 

 

 

221,519

 

 

 

124,387

 

 

 

182,515

 

 

 

164,665

 

 

 

(41,304

)

 

 

2,359,170

 

For the three months ended September 30, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

784,503

 

 

 

106,293

 

 

 

47,327

 

 

 

515,340

 

 

 

207,006

 

 

 

410,904

 

 

 

119,849

 

 

 

(1,221

)

 

 

2,190,001

 

Directly related cost of transportation and other expenses1

 

$

421,432

 

 

 

63,671

 

 

 

28,409

 

 

 

398,681

 

 

 

145,292

 

 

 

263,524

 

 

 

81,643

 

 

 

(541

)

 

 

1,402,111

 

Salaries and other operating expenses2

 

$

261,323

 

 

 

38,275

 

 

 

16,405

 

 

 

66,546

 

 

 

42,138

 

 

 

120,436

 

 

 

27,351

 

 

 

(653

)

 

 

571,821

 

Operating income

 

$

101,748

 

 

 

4,347

 

 

 

2,513

 

 

 

50,113

 

 

 

19,576

 

 

 

26,944

 

 

 

10,855

 

 

 

(27

)

 

 

216,069

 

Identifiable assets at period end

 

$

2,572,404

 

 

 

200,711

 

 

 

110,708

 

 

 

512,746

 

 

 

217,018

 

 

 

726,729

 

 

 

260,619

 

 

 

(22,814

)

 

 

4,578,121

 

Capital expenditures

 

$

3,762

 

 

 

302

 

 

 

84

 

 

 

168

 

 

 

409

 

 

 

1,369

 

 

 

1,899

 

 

 

 

 

 

7,993

 

Equity

 

$

1,797,123

 

 

 

46,264

 

 

 

54,096

 

 

 

225,229

 

 

 

91,712

 

 

 

154,617

 

 

 

161,882

 

 

 

(39,449

)

 

 

2,491,474

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNITED STATES

 

 

OTHER NORTH AMERICA

 

 

LATIN AMERICA

 

 

NORTH ASIA

 

 

SOUTH ASIA

 

 

EUROPE

 

 

MIDDLE EAST, AFRICA AND INDIA

 

 

ELIMI- NATIONS

 

CONSOLI- DATED

 

For the nine months ended September 30, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

2,385,392

 

 

 

331,837

 

 

 

151,787

 

 

 

2,096,709

 

 

 

960,970

 

 

 

1,241,432

 

 

 

481,600

 

 

 

(3,917

)

 

 

7,645,810

 

Directly related cost of transportation and other expenses1

 

$

1,270,981

 

 

 

199,710

 

 

 

88,077

 

 

 

1,702,401

 

 

 

757,167

 

 

 

796,205

 

 

 

353,839

 

 

 

(1,728

)

 

 

5,166,652

 

Salaries and other operating expenses2

 

$

772,835

 

 

 

102,684

 

 

 

49,920

 

 

 

224,588

 

 

 

135,303

 

 

 

363,718

 

 

 

92,099

 

 

 

(2,208

)

 

 

1,738,939

 

Operating income

 

$

341,576

 

 

 

29,443

 

 

 

13,790

 

 

 

169,720

 

 

 

68,500

 

 

 

81,509

 

 

 

35,662

 

 

 

19

 

 

 

740,219

 

Identifiable assets at period end

 

$

2,611,417

 

 

 

192,370

 

 

 

108,985

 

 

 

727,724

 

 

 

376,283

 

 

 

863,840

 

 

 

319,627

 

 

 

(29,329

)

 

 

5,170,917

 

Capital expenditures

 

$

17,775

 

 

 

2,172

 

 

 

383

 

 

 

933

 

 

 

2,938

 

 

 

4,860

 

 

 

1,354

 

 

 

 

 

30,415

 

Equity

 

$

1,628,893

 

 

 

35,825

 

 

 

42,670

 

 

 

221,519

 

 

 

124,387

 

 

 

182,515

 

 

 

164,665

 

 

 

(41,304

)

 

 

2,359,170

 

For the nine months ended September 30, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

2,535,945

 

 

 

326,398

 

 

 

151,994

 

 

 

1,607,788

 

 

 

631,001

 

 

 

1,386,284

 

 

 

386,524

 

 

 

(3,592

)

 

 

7,022,342

 

Directly related cost of transportation and other expenses1

 

$

1,387,511

 

 

 

201,984

 

 

 

90,139

 

 

 

1,238,996

 

 

 

437,392

 

 

 

924,592

 

 

 

261,482

 

 

 

(1,700

)

 

 

4,540,396

 

Salaries and other operating expenses2

 

$

785,282

 

 

 

108,892

 

 

 

52,172

 

 

 

205,976

 

 

 

132,984

 

 

 

373,004

 

 

 

85,003

 

 

 

(1,902

)

 

 

1,741,411

 

Operating income

 

$

363,152

 

 

 

15,522

 

 

 

9,683

 

 

 

162,816

 

 

 

60,625

 

 

 

88,688

 

 

 

40,039

 

 

 

10

 

 

 

740,535

 

Identifiable assets at period end

 

$

2,572,404

 

 

 

200,711

 

 

 

110,708

 

 

 

512,746

 

 

 

217,018

 

 

 

726,729

 

 

 

260,619

 

 

 

(22,814

)

 

 

4,578,121

 

Capital expenditures

 

$

15,829

 

 

 

932

 

 

 

360

 

 

 

1,110

 

 

 

744

 

 

 

6,688

 

 

 

2,937

 

 

 

 

 

 

28,600

 

Equity

 

$

1,797,123

 

 

 

46,264

 

 

 

54,096

 

 

 

225,229

 

 

 

91,712

 

 

 

154,617

 

 

 

161,882

 

 

 

(39,449

)

 

 

2,491,474

 

1 Directly related cost of transportation and other expenses totals Operating Expenses from Airfreight services, Ocean freight and ocean services and Customs brokerage and other services as shown in the Condensed Consolidated Statements of Earnings.

2Salaries and other operating expenses totals Salaries and related, Rent and occupancy, Depreciation and amortization, Selling and promotion and Other as shown in the Condensed Consolidated Statements of Earnings.

 

Jeffrey S. Musser President and Chief Executive Officer (206) 674-3433

Bradley S. Powell Senior Vice President and Chief Financial Officer (206) 674-3412

Geoffrey Buscher Director - Investor Relations (206) 892-4510

Expeditors International... (NYSE:EXPD)
Gráfica de Acción Histórica
De Oct 2024 a Nov 2024 Haga Click aquí para más Gráficas Expeditors International....
Expeditors International... (NYSE:EXPD)
Gráfica de Acción Histórica
De Nov 2023 a Nov 2024 Haga Click aquí para más Gráficas Expeditors International....