EXPD - Expeditors Reports Both Air and Ocean Tonnage Up for First Time Since '21 | Benzinga
However, it also marked a milestone: It was the first quarter since the third quarter of 2021 when year-on-year tonnage increased for both airfreight and ocean freight. There had been year-on-year comparisons when airfreight grew in the interim but not for more than two years have both categories grown from the corresponding quarter a year earlier.
The overall tonnage increase at Expeditors was 4% for airfreight and 2% for ocean freight. In airfreight, the month-by-month increase was 6% in January and February and 1% in March. For ocean freight, a 6% decline in January was followed by a 6% increase in February and an 8% increase in March. Expeditors does not release actual tonnage figures, just the rate of change from the prior year.
Despite the gains in tonnage handled, revenues declined 15% to $2.2 billion, down ...