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Expeditors (EXPD) Q2 Earnings Surpass Estimates, Up Y/Y

Expeditors International of Washington, Inc.EXPD performed impressively in the second quarter of 2018, reporting better-than-expected earnings and revenues.

The company's earnings of 79 cents per share, surpassed the Zacks Consensus Estimate by a penny. Also, the bottom line increased more than 31% on a year-over-year basis. Results were aided by higher revenues.

Revenues came in at $1,957.6 million outpacing the Zacks Consensus Estimate of $1,947.6 million. The top line improved 17% from the year-ago figure.

Growth was witnessed across all major divisions of the company. Volumes with respect to airfreight tonnage and ocean container increased 4% and 1%, respectively, on a year-over-year basis.

Gross profit (net revenues) increased 14% year over year in the second quarter of 2018 to $642.55 million. Gross margin (yield) came in at 32.8% compared with 33.7% in the year-ago quarter.

In the second quarter, the company repurchased 3.1 million shares at an average price of $76.22 per share. This Zacks Rank #2 (Buy) company exited the quarter with cash and cash equivalents of $1.02 billion compared with $1.05 billion at the end of 2017. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise

Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise | Expeditors International of Washington, Inc. Quote

Segmental Revenues

Airfreight Services revenues improved 19.3% year over year to $801.76 million in the second quarter. Ocean Freight and Ocean Services revenues increased marginally to $530 million. Customs Brokerage and Other Services revenues increased 32.63 % year over year to approximately $625.79 million.

Upcoming Releases

Investors interested in the broader Transportation Sector are keenly awaiting second-quarter earnings reports from key players like Copa Holdings, S.A. CPA , Fly Leasing Limited ( FLY and Frontline Ltd. ( FRO . Copa Holdings will release results on Aug 8. Fly Leasing Limited and Frontline will announce the same on Aug 23 and Aug 31, respectively.

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Expeditors International of Washington, Inc. (EXPD): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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