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Expeditors' (EXPD) Q1 Earnings Beat Estimates, Rise Y/Y

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·3 min read
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Expeditors International of Washington’s EXPD first-quarter 2021 earnings of $1.67 per share surpassed the Zacks Consensus Estimate of $1 and also skyrocketed more than 100% on a year-over-year basis. Results were aided by higher revenues. Also, the top line rose 76.5% year over year to $3,357.5 million and surpassed the Zacks Consensus Estimate of $2,405.4 million as well. Uptick in airfreight revenues boosted the top line.

In the quarter under review, volumes pertaining to both airfreight tonnage and ocean containers increased 29% year over year. Operating income jumped above 100% to $386 million in the first quarter on the back of better revenues. Total operating expenses escalated 70.5% $2.97 billion.

During the March quarter, this currently Zacks Rank #2 (Buy) company repurchased 0.9 million of common stock at an average price of $92.98 per share. It exited the first quarter of 2021 with cash and cash equivalents of $1.79 billion compared with $1.53 million at the end of 2020.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise

Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise
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

Segmental Highlights

Airfreight Services revenues soared more than 100% year over year to $1,476.96 million in the first quarter. Ocean Freight and Ocean Services revenues surged 94.2% to $958.18 million. Moreover, Customs Brokerage and Other Services revenues climbed 31.9% year over year to $922.4 million.

Sectorial Snapshots

Let’s glance through some of the other recently-released earnings reports from companies within the Zacks Transportation sector.

Canadian National Railway Co. CNI reported first-quarter 2021 earnings (excluding 11 cents from non-recurring items) of 97 cents per share (C$1.23), missing the Zacks Consensus Estimate of 99 cents. Quarterly revenues of $2,791.6 million (C$3,535 million) also lagged the Zacks Consensus Estimate of $2,813.1 million.

Landstar System LSTR reported first-quarter 2021 earnings of $2.01 per share, surpassing the Zacks Consensus Estimate of $1.61. Additionally, revenues of $1,287.5 million outperformed the Zacks Consensus Estimate of $1,142.5 million.

Southwest Airlines LUV incurred a loss of $1.72 per share (excluding $1.91 from non-recurring items) in the first quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $1.82. Moreover, operating revenues of $2,052 million surpassed the Zacks Consensus Estimate of $2,031.7 million.

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