Core Insights - November is historically the best month for S&P 500 performance, with an average increase of 1.9% [4] - Five S&P 500 stocks have already gained over 12% in November, indicating strong early performance despite the index being down 0.7% this month [1][2] Company Performance - Idexx Laboratories (IDXX) has seen a 14.4% increase in November, driven by a quarterly profit that exceeded estimates by nearly 8% [5] - Henry Schein (HSIC) shares are up 13.9% this month, also surpassing quarterly profit targets by nearly 8% [6] - Other notable performers include Expeditors International of Washington (EXPD) and Incyte (INCY), both up 13.1%, and Kenvue (KVUE) with a 12.9% increase [7] Market Context - The S&P 500 has not tested its 50-day moving average for 129 trading sessions, marking the longest streak since 2007 [3] - The overall market is at record highs, suggesting that further gains are possible despite the current downturn in the index [2]

Core Insights - Expeditors International's stock reached an all-time high of $136.18, reflecting an 11.2% increase over the past year and a 16.7% rise in the last three months [1] - Despite a decline in diluted net earnings by 1% to $1.64 and a 3% drop in net earnings to $222 million, the earnings per share exceeded Wall Street estimates, contributing to the stock price increase [2][3] Financial Performance - The company's revenue was reported at $2.9 billion, surpassing forecasts, and EBIT margins also showed positive results [3] - Operating income and revenues both experienced a 4% decline [2] Business Segments - Airfreight business saw a 4% increase in shipment volume, although growth slowed throughout the quarter, with July up 6%, August up 3%, and September up 2% [4] - Customs Brokerage revenue grew by 13.3% year-on-year, driven by tariffs and increased demand for information and guidance among shippers and importers [6][7] - Ocean freight business faced challenges, with a 3% decline in traffic measured in forty-foot equivalents, deteriorating from a 3% increase in July to a 6% decrease in October [8] Market Conditions - The airfreight capacity became looser after the expiration of the de minimis exception, leading to lower sell and buy rates during the quarter [5] - The customs group is under pressure due to increased volume and complexity of entries, prompting investments in productivity enhancements, including AI and technology solutions [8]

Core Viewpoint - Expeditors International of Washington, Inc. has declared a semi-annual cash dividend of $0.77 per share, payable on December 15, 2025, to shareholders of record as of December 1, 2025 [1] Financial Performance - For the third quarter of 2025, diluted net earnings attributable to shareholders per share (EPS) increased by 1% to $1.64, while net earnings attributable to shareholders decreased by 3% to $222 million [6] - Operating income for the third quarter of 2025 decreased by 4% to $288 million, and revenues also decreased by 4% to $2.9 billion [6] - In contrast, airfreight tonnage increased by 4% during the same period [6] - For the second quarter of 2025, EPS increased by 8% to $1.34, with net earnings attributable to shareholders rising by 5% to $184 million [8] - Operating income for the second quarter increased by 11% to $248 million, and revenues increased by 9% to $2.7 billion [8] Company Overview - Expeditors is a global logistics company headquartered in Bellevue, Washington, employing trained professionals across 172 district offices and various branch locations on six continents [2] - The company offers a range of services including air and ocean freight consolidation, customs brokerage, vendor consolidation, cargo insurance, time-definite transportation, order management, warehousing, distribution, and customized logistics solutions [2] Leadership Changes - David A. Hackett has been appointed as Senior Vice President and Chief Financial Officer, effective October 1, 2025, following the retirement of the current CFO, Bradley S. Powell [7]

Financial Performance - Q3 2025 diluted earnings per share (EPS) increased by 1% to $1.64 compared to Q3 2024[6] - Net earnings attributable to shareholders decreased by 3% to $222 million, while operating income also decreased by 4% to $288 million[6] - Revenues for Q3 2025 decreased by 4% to $2.9 billion, but year-to-date revenues increased by 7% to $8.2 billion[6][13] - Total revenues for Q3 2025 were $2,894,751, a decrease of 3.5% compared to $3,000,131 in Q3 2024[21] - Operating income for Q3 2025 was $288,042, a decrease of 4.5% from $301,524 in Q3 2024[21] - Net earnings attributable to shareholders for Q3 2025 were $222,256, down 3.4% from $229,574 in Q3 2024[21] - Diluted earnings per share for Q3 2025 was $1.64, slightly up from $1.63 in Q3 2024[21] - For the nine months ended September 30, 2025, revenues amounted to $8,213,055, compared to $7,645,810 for the same period in 2024, reflecting an increase of approximately 7.4%[25] - Operating income for the nine months ended September 30, 2025, was $801,636, up from $740,219 in the same period of 2024, indicating a growth of about 8.3%[25] Shareholder Returns - Cash returned to shareholders through share repurchases was $212 million, totaling $725 million for the year-to-date period[6][9] - The company repurchased 1.8 million shares at an average price of $119.65 during Q3 2025[15] - The company repurchased common stock amounting to $212,294 in Q3 2025, compared to $140,031 in Q3 2024[23] Operating Expenses - The company experienced a 10% increase in salaries and other operating expenses year-to-date, totaling $1.94 billion[13] - Salaries and related costs for the three months ended September 30, 2025, were $490,437, compared to $450,308 in the same period of 2024, representing an increase of approximately 8.9%[25] - The company reported a decrease in operating expenses to $2,606,709 in Q3 2025, down from $2,698,607 in Q3 2024[21] - Directly related cost of transportation and other expenses for the three months ended September 30, 2025, was $1,939,657, compared to $2,093,964 in the same period of 2024, showing a decrease of about 7.4%[25] Assets and Liabilities - Total assets as of September 30, 2025, were $4.78 billion, with total liabilities of $2.05 billion[19] - Identifiable assets at the end of September 30, 2025, totaled $4,779,582, a decrease from $5,170,917 at the end of September 30, 2024, representing a decline of approximately 7.6%[25] - Equity at the end of September 30, 2025, was $2,282,638, compared to $2,359,170 at the end of September 30, 2024, reflecting a decline of approximately 3.2%[25] Cash Flow - Net cash from operating activities for the nine months ended September 30, 2025, was $723,202, an increase of 52.7% compared to $473,645 in the same period of 2024[23] - Cash and cash equivalents at the end of Q3 2025 were $1,190,167, compared to $1,293,173 at the end of Q3 2024[23] Business Operations - Airfreight tonnage increased by 4%, while ocean container volume decreased by 3% during the quarter[6] - The customs brokerage business continued to show strong growth due to high demand, driven by a dynamic trade environment[7][8] - Airfreight services revenue increased to $1,020,258 in Q3 2025, up 3.4% from $986,950 in Q3 2024[21] Capital Expenditures - Capital expenditures for the three months ended September 30, 2025, were $11,098, down from $12,291 in the same period of 2024, showing a reduction of about 9.7%[25] Depreciation and Amortization - Depreciation and amortization for the three months ended September 30, 2025, totaled $14,248, slightly down from $15,774 in the same period of 2024, indicating a decrease of about 9.7%[25]

Core Insights - Expeditors International of Washington (EXPD) reported third-quarter 2025 earnings of $1.64 per share, surpassing the Zacks Consensus Estimate of $1.40, with a year-over-year increase of 0.6% [1][10] - Total revenues reached $2.89 billion, exceeding the Zacks Consensus Estimate of $2.68 billion, but reflecting a 4% decline year over year due to challenges in ocean freight and services [1][10] Financial Performance - Airfreight tonnage volume increased by 4% during the quarter, while ocean container volume decreased by 3% [2] - Operating income fell by 4% year over year to $288 million, with total operating expenses decreasing by 3.5% year over year to $2.6 billion [2] - Airfreight Services revenues rose by 3.4% year over year to $1 billion, driven by growth in airfreight tonnage exports from North and South Asia [3] - Ocean freight and services revenues plummeted by 26.7% year over year to $746.1 million, impacted by pricing volatility and lower volumes [3] - Customs Brokerage and other services revenues increased by 13.5% year over year to $1.13 billion, with strong growth across all businesses in this category [3] Shareholder Returns - In the third quarter of 2025, EXPD returned $212 million to shareholders through share buybacks, totaling $725 million year to date through share repurchases and dividends [4] - The company ended the third quarter with cash and cash equivalents of $1.19 billion, up from $1.15 billion at the end of 2024 [4] Industry Context - Delta Air Lines reported third-quarter 2025 earnings of $1.71 per share, beating estimates and showing a 14% year-over-year increase due to low fuel costs [6] - United Airlines reported mixed results, with adjusted earnings per share of $2.78, surpassing estimates but declining 16.5% year over year [8]

Core Insights - Expeditors International reported revenue of $2.89 billion for the quarter ended September 2025, a decrease of 3.5% year-over-year, while EPS increased slightly to $1.64 from $1.63 [1] - The revenue exceeded the Zacks Consensus Estimate of $2.68 billion by 7.84%, and the EPS surpassed the consensus estimate of $1.40 by 17.14% [1] Revenue Breakdown - Airfreight services generated $1.02 billion, exceeding the estimated $966.34 million, reflecting a year-over-year increase of 3.4% [4] - Customs brokerage and other services brought in $1.13 billion, surpassing the average estimate of $1.01 billion, with a year-over-year growth of 13.3% [4] - Ocean freight and ocean services reported $746.12 million, above the estimated $703.65 million, but showed a significant decline of 26.7% compared to the previous year [4] Stock Performance - Over the past month, shares of Expeditors International returned -1%, contrasting with the Zacks S&P 500 composite's increase of 2.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

分组1 - Expeditors International (EXPD) reported quarterly earnings of $1.64 per share, exceeding the Zacks Consensus Estimate of $1.4 per share, and showing a slight increase from $1.63 per share a year ago, resulting in an earnings surprise of +17.14% [1][2] - The company achieved revenues of $2.89 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 7.84%, although this represents a decline from year-ago revenues of $3 billion [2] - Over the last four quarters, Expeditors International has consistently surpassed consensus EPS and revenue estimates [2] 分组2 - The stock has gained approximately 10.6% since the beginning of the year, while the S&P 500 has increased by 16.5% [3] - The current consensus EPS estimate for the upcoming quarter is $1.29 on revenues of $2.66 billion, and for the current fiscal year, it is $5.54 on revenues of $10.66 billion [7] - The Zacks Industry Rank indicates that the Transportation - Services sector is currently in the bottom 10% of over 250 Zacks industries, which may impact stock performance [8]

Industry Overview - The Zacks Transportation sector is diverse, including airlines, railroads, package delivery companies, and truckers, with S&P 500 members expected to see a 5.9% year-over-year decline in third-quarter 2025 earnings and a 4.4% drop in revenues [1] - The recent decline in oil prices, which fell 4.2% during the July–September period, is beneficial for the transportation sector as fuel is a major operating expense, supporting margin expansion [3] - Ongoing cost-control efforts amid soft freight demand and the strength of e-commerce are expected to contribute positively to profitability in the sector [4] Company Performance - Expeditors International of Washington (EXPD) is expected to report better-than-expected earnings despite challenges like weak freight demand and declining rates, with an Earnings ESP of +1.43% and a Zacks Rank of 3 [9] - Air Lease Corporation (AL) has an Earnings ESP of +15.63% and is anticipated to benefit from steady growth in its fleet and higher end-of-lease revenues, having beaten the Zacks Consensus Estimate in the last four quarters with an average beat of 11.8% [11][12] - GXO Logistics (GXO) is projected to report positive results driven by increased e-commerce and cost-cutting efforts, with an Earnings ESP of +0.18% and a Zacks Rank of 3, having surpassed the Zacks Consensus Estimate in the last four quarters with an average beat of 5.3% [13][14] Market Dynamics - U.S. airlines are experiencing steady air travel demand despite economic headwinds, while shipping companies are showing resilience against inflation and trade tensions, particularly those focusing on operational efficiency [5] - The combination of a positive Earnings ESP and a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) is suggested as a method to identify stocks with high chances of delivering positive earnings surprises, with odds as high as 70% for stocks with this mix [7]

Core Viewpoint - Expeditors International of Washington, Inc. is a leading third-party logistics provider with a market cap of $16.3 billion, offering global logistics management services for air and ocean freight [1] Financial Performance - The company is expected to announce its third-quarter results on November 4, with analysts predicting an adjusted profit of $1.40 per share, a decrease of 14.1% from $1.63 per share in the same quarter last year [2] - For the full fiscal year 2025, an adjusted EPS of $5.54 is anticipated, down 3.2% from $5.72 reported in 2024, while a slight increase to $5.55 per share is expected in fiscal 2026 [3] Stock Performance - Over the past 52 weeks, EXPD stock has seen a marginal decline of 5 basis points, significantly underperforming the S&P 500 Index's 14.8% increase and the Industrial Select Sector SPDR Fund's 10.2% gains [4] - Following the release of Q2 results on August 5, despite better-than-expected performance, the stock experienced a slight dip, although it later rebounded by 2.1% in subsequent trading [5][6] Analyst Sentiment - Analysts maintain a consensus "Moderate Sell" rating for EXPD, with 15 analysts providing coverage, including eight "Holds," one "Moderate Sell," and six "Strong Sells" [6]

Company Overview - CryoPort, Inc. (CYRX) shares increased by 7% to $10.71 in the last trading session, with a notable trading volume, and have gained 12.9% over the past four weeks [1] - The company has shown strong revenue performance this year, supported by its expansion efforts, including the opening of a global supply chain center in Paris [1] Financial Performance - The upcoming quarterly report is expected to show a loss of $0.23 per share, reflecting a year-over-year decline of 1050%, with revenues projected at $40.84 million, down 27.9% from the previous year [2] - The consensus EPS estimate for CryoPort has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [3] Industry Context - CryoPort is categorized under the Zacks Transportation - Services industry, which includes other companies like Expeditors International (EXPD) [4] - Expeditors International's consensus EPS estimate has changed by +0.5% over the past month to $1.4, representing a 14.1% decrease from the previous year [5]