Expeditors (EXPD) Q1 Earnings Surpass Estimates, Up Y/Y
Zacks Investment Research | May 07, 2018 11:40PM ET
Expeditors International of Washington, Inc. (NASDAQ:EXPD) performed impressively in the first quarter of 2018, reporting better-than-expected earnings and revenues.
The company’s earnings of 76 cents per share, surpassed the Zacks Consensus Estimate of 64 cents. Also, the bottom line increased more than 45% on a year-over-year basis. Results were aided by higher revenues.
Revenues came in at $1,854.3 million outpacing the Zacks Consensus Estimate of $1,702.4 million. The top line improved 20% from the year-ago figure. The earnings report pleased investors. Consequently, the stock gained in early trading.
Growth was witnessed across all major divisions of the company. Volumes with respect to airfreight tonnage and ocean container both increased 5% on a year-over-year basis.
Gross profit (net revenues) increased 21% year over year in the first quarter of 2018 to $635.84 million. Gross margin (yield) came in at 34.3% compared with 34.14% in the year-ago quarter.
In the first quarter, the company repurchased 2.7 million shares at an average price of $64.76 per share. This Zacks Rank #2 (Buy) company exited the quarter with cash and cash equivalents of $1.13 billion compared with $1.05 billion at the end of 2017. You can see
Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise
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