Expeditors' (EXPD) Q1 Earnings & Revenues Beat, Down Y/Y

Expeditors International of Washington’s (EXPD) first-quarter 2024 earnings of $1.17 per share beat the Zacks Consensus Estimate of $1.10. The bottom line plunged 19% year over year due to volume woes. Total revenues of $2,206.67 million beat the Zacks Consensus Estimate of $2,172 million but declined 15% year over year. Airfreight tonnage and ocean container volumes surged 4% and 2%, respectively. We had expected airfreight tonnage and ocean container volumes to decline 6.7% and 8%, respectively, from firs ...