EXPD - Logistics Company Expeditors Struggles In Q4: Revenue And Profits Plunge Amid Market Uncertainty And Cost Challenges | Benzinga
Expeditors International Of Washington, Inc. (NYSE:EXPD) reported a fourth-quarter fiscal 2023 revenue decline of 34% Y/Y to $2.28 billion, missing the consensus of $2.31 billion.
Airfreight tonnage volume decreased by 3%, and ocean container volume decreased by 10%. EPS of $1.09, down 22% YoY, missed the consensus of $1.23.
Operating income decreased 40% to $199.39 million, and the margin fell 80 bps to 8.7%.
During the three and twelve months ended December 31, 2023, EXPD repurchased 1.6 million and 12.1 million shares of common stock at an average price of $119.22 and ...