Expeditors' (EXPD) Q4 Earnings Lag Estimates, Decline Y/Y

Expeditors International of Washington’s (EXPD) fourth-quarter 2023 earnings of $1.09 per share missed the Zacks Consensus Estimate of$1.21. The bottom line plunged 21% year over year due to volume woes. Total revenues of $2.28 billion beat the Zacks Consensus Estimate of$2.24 billion but declined 33.8% year over year.Airfreight tonnage and ocean container volumes dipped 3% and 10%, respectively. We had expected airfreight tonnage and ocean container volumes to decline 7.7% and 9%, respectively, from four ...