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Expeditors International of Washington’s EXPD fourth-quarter 2024 earnings of $1.68 per share beat the Zacks Consensus Estimate of $1.43. The bottom line increased 54.1% year over year, owing to strong growth in air tonnage and ocean volumes. Total revenues of $3 billion beat the Zacks Consensus Estimate of $2.62 billion and increased 29.7% year over year.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Airfreight tonnage and ocean container volume increased 11% and 14%, respectively, year over year. We expected airfreight tonnage to increase 11.7% from fourth-quarter 2023 actuals.
Operating income increased 51% year over year to $301 million. Total operating expenses increased 24% to $2.65 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. Quote
Airfreight Services revenues increased 22.7% year over year to $1.06 billion in the fourth quarter of 2024. Ocean freight and ocean services revenues surged 77.5% to $908.4 million. Customs Brokerage and other services revenues increased 9.3% year over year to $983.2 million.
In the fourth quarter of 2024, Expeditors repurchased 2 million shares at an average price of $120.14 per share. EXPD returned $1.1 billion to its shareholders through stock repurchases and dividends in 2024. This was the third consecutive year that the transportation company returned more than $1 billion of capital to its shareholders.
EXPD exited 2024 with cash and cash equivalents of $1.15 billion compared with $1.51 billion in 2023-end.
EXPD’s Zacks Rank
Expeditors currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q4 Performances of Other Transportation Companies
Delta Air Lines DAL reported fourth-quarter 2024 earnings (excluding 56 cents from non-recurring items) of $1.85 per share, which surpassed the Zacks Consensus Estimate of $1.76. Earnings increased 44.5% on a year-over-year basis due to low fuel costs.
DAL’s revenues of $15.56 billion beat the Zacks Consensus Estimate of $14.99 billion and increased 9.4% on a year-over-year basis, driven by strong holiday travel demand. Adjusted operating revenues (excluding third-party refinery sales) totaled $14.44 billion, up 5.7% year over year. Passenger revenues, which accounted for 82.4% of total revenues, increased 5% year over year to $12.82 billion.