EXPD - Expeditors slumps despite Q3 beat

Expeditors ([[EXPD]] -2.6%) Q3 revenue increased 19% to $2.5B.Revenue breakup: Airfreight services $1.09B, Ocean freight and ocean services $612M, Customs brokerage and other services $758M.Airfreight tonnage volume and ocean container volume both decreased 5%.Net earnings increased 19% to $191M; Diluted EPS increased 22% to $1.12.Operating Income increased 22% to $252M.“Volumes started to recover across most of our products during the quarter, even as the global effects of COVID-19 continued to impact our business worldwide,” said Jeffrey S. Musser, President and CEO.Previously: Expeditors EPS beats by $0.13, beats on revenue (Nov. 3)

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Expeditors slumps despite Q3 beat