Expeditors International of Washington(EXPD)2025-05-06 16:38Financial Performance - Diluted earnings per share (EPS) increased by 26% to $1.47 compared to the same quarter of 2024[6] - Net earnings attributable to shareholders rose by 20% to $204 million, while operating income increased by 24% to $266 million[6] - Revenues grew by 21% to $2.7 billion, driven by increased airfreight tonnage (up 9%) and ocean container volume (up 8%) year-over-year[6] - Total revenues for Q1 2025 reached $2,666,419, an increase of 20.8% compared to $2,206,678 in Q1 2024[18] - Net earnings for Q1 2025 were $204,099, representing a 19.7% increase from $170,400 in Q1 2024[20] - Diluted earnings per share increased to $1.47 in Q1 2025, up from $1.17 in Q1 2024, reflecting a growth of 25.6%[18] - Operating income for Q1 2025 was $265,858, a 23.7% increase from $214,776 in Q1 2024[18] Cash Flow and Investments - The company generated $343 million in cash from operations and returned $177 million to shareholders through stock repurchases during the quarter[8] - Net cash from operating activities for Q1 2025 was $342,622, an increase of 33.4% from $256,904 in Q1 2024[20] - Cash and cash equivalents at the end of Q1 2025 were $1,318,520, compared to $1,370,456 at the end of Q1 2024[20] - Capital expenditures for Q1 2025 totaled $13,152, up from $10,181 in Q1 2024[22] Operational Efficiency - Operating efficiency was maintained at the target of 30%, with pre-tax operating income growing by 24% from the previous year[8] - The workforce increased to 19,203 full-time equivalents, up from 18,403 in the previous year, reflecting a strategic boost in operations and sales[13] Market Trends - Airfreight volumes showed a year-over-year increase of 9%, with March alone seeing a 15% rise, while ocean freight volumes increased by 8% overall[13] - The company is experiencing early signs of a significant decline in China to U.S. ocean volumes, prompting customers to shift shipments to mitigate tariff exposure[7] Assets and Liabilities - The total assets as of March 31, 2025, were $4.76 billion, slightly up from $4.75 billion at the end of 2024[16] - Identifiable assets at the end of Q1 2025 were $4,756,650, compared to $4,488,268 at the end of Q1 2024[22] - The company reported a decrease in accounts receivable by $108,149 in Q1 2025, compared to an increase of $60,542 in Q1 2024[20] Interest Income - The company experienced a decrease in interest income to $9,184 in Q1 2025 from $14,878 in Q1 2024[18] Cybersecurity and Technology - The company is investing significantly in cybersecurity and technology to enhance operational systems and protect against disruptions[8]