Expeditors International of Washington Reports Earnings Results for Second Fiscal Quarter of 2023
August 12, 2023
🌥️Earnings Overview
EXPEDITORS INTERNATIONAL OF WASHINGTON ($NASDAQ:EXPD) announced their earnings for the second quarter of 2023, ending June 30, 2023, with a total revenue of USD 2239.8 million, signifying a 51.3% decrease from the same period last year. Net income for the quarter also decreased by 47.9%, hitting USD 196.8 million compared to the same period in the previous year.
Share Price
The company opened at $123.9, and closed at $119.3, which was a 4.4% decrease from the previous closing price of $124.8. The company credited their strong results to continued growth in demand for their services despite the impact of the pandemic on international trade. Expeditors International of Washington noted that they have seen strong demand from their customers for their air, ocean, and customs services, and have seen further gains in their market share in the quarter. The company also expressed optimism about the rest of their fiscal year, citing strong customer demand and increased global trade activity as positive signs for the future. Expeditors International of Washington noted that they have invested considerable effort into improving their digital capabilities in order to provide greater value to their customers.
Overall, it appears that the company was able to report solid results for the quarter despite the challenging environment caused by the pandemic. The board of directors expressed confidence in the company’s ability to continue to drive growth and profitability in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for EXPD. More…
| Total Revenues | Net Income | Net Margin |
| 12.64k | 1.06k | 8.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for EXPD. More…
| Operations | Investing | Financing |
| 1.86k | -55.91 | -2.08k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for EXPD. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.56k | 2.01k | 17.36 |
Key Ratios Snapshot
Some of the financial key ratios for EXPD are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.7% | 20.3% | 11.5% |
| FCF Margin | ROE | ROA |
| 14.3% | 31.7% | 19.8% |
Analysis
At GoodWhale, we provide a comprehensive analysis of EXPEDITORS INTERNATIONAL OF WASHINGTON so you can make an informed decision when investing. Our Risk Rating system evaluates the business and financial aspects of a company to give you an accurate assessment of potential risks. We rated EXPEDITORS INTERNATIONAL OF WASHINGTON as a medium risk investment. This means that while there are some areas of potential risk, the company is still generally considered to be a safe bet. By registering with us, you can get a detailed look at the business and financial areas with the most potential risks. We also offer additional resources to help you understand the company’s fundamentals and make the best decision for your investment. More…
Peers
Expeditors International of Washington Inc is a leading provider of global logistics services. The company has a strong competitive advantage over its competitors due to its vast experience in the industry, its global network of offices and warehouses, and its commitment to customer service.
– Jiangsu Feiliks International Logistics Inc ($SZSE:300240)
Jiangsu Feiliks International Logistics Inc is a leading provider of logistics services in China. The company has a market cap of 2.77B as of 2022 and a return on equity of 11.39%. The company provides a full range of logistics services, including transportation, warehousing, distribution, and supply chain management. The company has a strong network of logistics facilities and partners in China and around the world.
– 2Go Group Inc ($PSE:2GO)
As of 2022, Five Below Inc has a market cap of 15.76B and a Return on Equity of 1.07%. The company operates in the discount retail industry and offers products that are priced at $5 and below. Five Below targets teenagers and young adults with its trendy and affordable merchandise, which includes items such as clothes, accessories, beauty products, and home décor. The company has over 700 stores across the United States and plans to continue expanding its reach in the coming years.
– Unique Logistics International Inc ($OTCPK:UNQL)
As of 2022, Unique Logistics International Inc has a market cap of 8.39M and a ROE of 112.57%. The company is a provider of logistics and transportation services. It offers a range of services including airfreight, oceanfreight, warehousing, and trucking. The company has a strong focus on customer service and providing a high level of service.
Summary
Expeditors International of Washington (EIW) reported their earnings results for the second quarter of 2023, with total revenue of USD 2239.8 million and net income of USD 196.8 million. The revenue was 51.3% lower than the same period in the previous year and the net income declined by 47.9%. The stock price responded negatively to the news, dropping on the same day.
Investors who are considering EIW may find this quarter’s results concerning, as it shows a significant decline in profits year-over-year. Investors should do further research and assess the company’s financial performance and outlook before investing.
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