Expeditors International (EXPD) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Expeditors International (EXPD) reported $2.44 billion in revenue for Q2 2024, an 8.9% year-over-year increase, with an EPS of $1.24, slightly down from $1.30 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $2.22 billion by 9.86%, while the EPS met the consensus estimate [1] Revenue Performance - Airfreight services revenue was $860.32 million, surpassing the estimated $726.60 million, reflecting a 14.5% year-over-year increase [3] - Ocean freight and ocean services revenue reached $651.68 million, exceeding the average estimate of $548.43 million, marking a 9.8% year-over-year increase [4] - Customs brokerage and other services revenue was $927 million, above the estimated $899.88 million, showing a 3.6% year-over-year increase [8] Net Revenue Analysis - Net revenues from ocean freight and ocean services were $173.55 million, compared to the estimated $142.07 million, indicating a year-over-year decline of 7.7% [5] - Net revenues from airfreight services were $215.16 million, slightly above the estimated $200.27 million, reflecting a 4.9% year-over-year decrease [6] - Net revenues from customs brokerage and other services were $410.88 million, below the estimated $422.70 million, with a year-over-year increase of 1.1% [7] Stock Performance - Shares of Expeditors International have returned +1.2% over the past month, contrasting with the Zacks S&P 500 composite's -6.7% change, indicating potential outperformance in the near term [8]