Expeditors International of Washington Inc
EXPD: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$757.00 | Lyx | Jcfrfnnn |
Expeditors Earnings: The Air and Ocean Unwind Persists, but Outlook Is Stable
In the third quarter, Expeditors International's gross revenue fell 50% year over year, similar to the second-quarter decline. Revenue came in shy of our forecast, albeit not drastically. It's been tough to spot a trough amid the industry's heavy normalization phase. Recall revenue flipped negative in fourth-quarter 2022 following a few years of meteoric growth in both volume and pricing (sell rates) to shippers.