Expeditors International 4Q Sales Soar on Higher Rates

Dow Jones

Feb 18, 2025

By Dean Seal

Expeditors International of Washington recorded a bigger profit after the company said high rates and strong demand caused revenue to surge in the fourth quarter.

The logistics company posted a profit of $235.9 million, up from $158.7 million in the year-ago quarter. Earnings were $1.68 a share, topping analyst forecasts for $1.43 a share, according to FactSet.

Revenue surged 30% to $2.95 billion. Analysts polled by FactSet had been expecting 2.79 billion.

The company said strong demand out of Asia drove rates higher, as did strong demand for ocean transportation that strained capacity. Disruptions in the Red Sea pushed buy and sell rates higher and boosted volumes.

Ocean container volumes were up 14%, while airfreight tonnage volumes were up 11%.

The company moved more air tonnage during the quarter than it has for the past three years, Chief Executive Jeffrey Musser said.

Shares rose 5.6% to $120 in premarket trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

February 18, 2025 09:00 ET (14:00 GMT)

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