Expeditors Q3 Earnings and Revenues Beat Estimates, Increase Y/Y

Expeditors International of Washington’s EXPD third-quarter 2024 earnings of $1.63 per share beat the Zacks Consensus Estimate of $1.33. The bottom line increased 40.5% year over year, owing to strong growth in air tonnage and ocean volumes. Total revenues of $3 billion beat the Zacks Consensus Estimate of $2.37 billion and increased 37% year over year.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Airfreight tonnage and ocean container volume increased 19% and 12% year over year, respectively. We expected airfreight tonnage to increase 15% from third-quarter 2023 actuals.Operating income increased 40% year over year to $302 million. Total operating expenses increased 37% to $2.7 billion.Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise Expeditors International of Washington, Inc. price-consensus-eps-surprise-chart | Expeditors International of Washington, Inc. QuoteAirfreight Services revenues increased 36.3% year over year to $987 million in the third quarter of 2024. Ocean freight and ocean services revenues surged 81.5% to $1.02 billion. Customs Brokerage and other services revenues increased 9.9% year over year to $995.6 million.In the third quarter of 2024, Expeditors repurchased 1.2 million shares at an average price of $118.47 per share. EXPD returned $140 million to its shareholders via share repurchases in the September quarter.EXPD exited the third quarter of 2024 with cash and cash equivalents of $1.29 billion compared with $1.51 billion in 2023-end.The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Some Other Transportation CompaniesDelta Air Lines DAL reported third-quarter 2024 earnings (excluding 47 cents from non-recurring items) of $1.50 per share, which fell short of the Zacks Consensus Estimate of $1.56. Earnings decreased 26.11% on a year-over-year basis due to high labor costs.Revenues of $15.68 billion surpassed the Zacks Consensus Estimate of $15.37 billion and increased 1.2% on a year-over-year basis, driven by strong air travel demand. Adjusted operating revenues (excluding third-party refinery sales) totaled $14.59 billion, flat year over year. This was inclusive of the $380 million impact from the outage caused by CrowdStrike CRWD.J.B. Hunt Transport Services’ JBHT third-quarter 2024 earnings of $1.49 per share outpaced the Zacks Consensus Estimate of $1.42 but declined 17.2% year over year.Total operating revenues of $3.07 billion surpassed the Zacks Consensus Estimate of $3.04 billion but fell 3% year over year. Operating income for the September quarter decreased 7% year over year to $224.1 million.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis Report Expeditors International of Washington, Inc. (EXPD): Free Stock Analysis Report CrowdStrike (CRWD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks