Successful quarter at Expeditors boosted by hyperscaler business
All the key numbers at Expeditors International pointed upward in the third quarter at the logistics and freight forwarding company. Revenue year-on-year was up 42%, to $4.1 billion at the asset-light customs broker and freight forwarder. Despite the fact that the cost of transportation rose 49%, a faster rate than revenues, and salaries climbed 15%, […] The post Successful quarter at Expeditors…
Expeditors International reported a successful third quarter with revenue up 42% year-over-year to $4.1 billion. Operating income increased 55% to $445.4 million, beating analyst expectations by $510 million. Diluted earnings per share grew 61% to $2.65. Despite rising transportation costs of 49% and salary increases of 15%, Expeditors' stock showed little positive reaction in early trading, down 0.76% to $199.04.
The company's performance was driven by strong demand from hyperscalers and record global air tonnage, particularly in markets like South Asia. However, airfreight capacity remains constrained due to limited fleet expansion and new aircraft delivery delays. Ocean freight was affected by three Asian typhoons, but Expeditors' global network and world-class teams helped maintain service continuity.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
