Expeditors International Misses Q3 Earnings, CEO Warns Of Unpredictable Market Conditions
Portfolio Pulse from Nabaparna Bhattacharya
Expeditors International Of Washington, Inc. reported a 50% Y/Y decline in Q3 revenue to $2.19 billion, missing the consensus of $2.3 billion. EPS was $1.16, down 54% Y/Y, missing the consensus of $1.28. The company's airfreight tonnage volume and ocean container volume decreased by 14% and 15% respectively. Q3 operating income decreased 59% to $216 million. The company's shares are trading lower by 0.72% at $110.69.
November 07, 2023 | 5:04 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Expeditors International reported lower than expected Q3 earnings and revenue, leading to a decrease in its stock price.
Expeditors International reported a significant decline in Q3 revenue and EPS, both missing the consensus. This negative financial performance is likely to negatively impact investor sentiment and lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100