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Expeditors International of Washington’s (EXPD - Free Report) fourth-quarter 2021 earnings of $2.66 per share surpassed the Zacks Consensus Estimate of $2.02. The bottom line surged more than 100% year over year. Results benefited from higher airfreight tonnage volumes.
Total revenues of $5,396.3 million outperformed the Zacks Consensus Estimate of $4,257 million and also increased significantly year over year. Higher revenues across all segments boosted the top line.
While airfreight tonnage volumes increased 13%, ocean container volumes decreased 4% in the reported quarter. Operating income soared more than 100% to $624 million in the fourth quarter on the back of higher revenues. Total operating expenses escalated 76.8% to $4.77 billion.
Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise
During 2021, Expeditors, carrying a Zacks Rank #2 (Buy), repurchased 4.4 million shares at an average price of $117.54 per share. It exited the fourth quarter with cash and cash equivalents of $1.73 billion compared with $1.53 billion at the end of 2020.
Airfreight Services revenues increased 68% year over year to $2.29 billion in the fourth quarter. Ocean Freight and Ocean Services revenues skyrocketed more than 100% to $1.89 billion. Customs Brokerage and Other Services revenues climbed 39.9% year over year to $1.21 billion.
Sectorial Snapshots
Let’s take a look at some of the other earnings releases by companies within the Zacks Transportation sector.
GATX Corporation (GATX - Free Report) , sporting a Zacks Rank #1 (Strong Buy), reported fourth-quarter 2021 earnings (excluding 11 cents from non-recurring items) of $1.58 per share, which surpassed the Zacks Consensus Estimate of $1.07. The bottom line surged more than 200% year over year.
GATX’s total revenues of $321 million increased 5.3% year over year, mainly on a 5.2% rise in lease revenues, which came in at $288.4 million. Lease revenues contributed 89.8% to the top line. You can see the complete list of today’s Zacks #1 Rank stocks here.
Werner Enterprises (WERN - Free Report) , carrying a Zacks Rank #3 (Hold), reported fourth-quarter 2021 earnings (excluding 2 cents from non-recurring items) of $1.13 per share, which surpassed the Zacks Consensus Estimate of 96 cents. The bottom line rose 27% on a year-over-year basis.
Werner’s total revenues of $765.2 million also outperformed the Zacks Consensus Estimate of $725.1 million. The top line increased 23.4% on a year-over-year basis, primarily on higher revenues in the Truckload Transportation Services and Logistics segments.
C.H. Robinson Worldwide (CHRW - Free Report) , carrying a Zacks Rank #3, reported fourth-quarter 2021 earnings of $1.74 per share, which fell short of the Zacks Consensus Estimate of $1.85. However, the bottom line surged 61.1% year over year.
C.H. Robinson’s total revenues of $6,501.8 million outperformed the Zacks Consensus Estimate of $6,190.8 million. The top line jumped 42.9% year over year owing to higher pricing and volumes across most of the company’s service lines.
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Expeditors (EXPD) Q4 Earnings & Revenues Beat Estimates
Expeditors International of Washington’s (EXPD - Free Report) fourth-quarter 2021 earnings of $2.66 per share surpassed the Zacks Consensus Estimate of $2.02. The bottom line surged more than 100% year over year. Results benefited from higher airfreight tonnage volumes.
Total revenues of $5,396.3 million outperformed the Zacks Consensus Estimate of $4,257 million and also increased significantly year over year. Higher revenues across all segments boosted the top line.
While airfreight tonnage volumes increased 13%, ocean container volumes decreased 4% in the reported quarter. Operating income soared more than 100% to $624 million in the fourth quarter on the back of higher revenues. Total operating expenses escalated 76.8% to $4.77 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
During 2021, Expeditors, carrying a Zacks Rank #2 (Buy), repurchased 4.4 million shares at an average price of $117.54 per share. It exited the fourth quarter with cash and cash equivalents of $1.73 billion compared with $1.53 billion at the end of 2020.
Airfreight Services revenues increased 68% year over year to $2.29 billion in the fourth quarter. Ocean Freight and Ocean Services revenues skyrocketed more than 100% to $1.89 billion. Customs Brokerage and Other Services revenues climbed 39.9% year over year to $1.21 billion.
Sectorial Snapshots
Let’s take a look at some of the other earnings releases by companies within the Zacks Transportation sector.
GATX Corporation (GATX - Free Report) , sporting a Zacks Rank #1 (Strong Buy), reported fourth-quarter 2021 earnings (excluding 11 cents from non-recurring items) of $1.58 per share, which surpassed the Zacks Consensus Estimate of $1.07. The bottom line surged more than 200% year over year.
GATX’s total revenues of $321 million increased 5.3% year over year, mainly on a 5.2% rise in lease revenues, which came in at $288.4 million. Lease revenues contributed 89.8% to the top line. You can see the complete list of today’s Zacks #1 Rank stocks here.
Werner Enterprises (WERN - Free Report) , carrying a Zacks Rank #3 (Hold), reported fourth-quarter 2021 earnings (excluding 2 cents from non-recurring items) of $1.13 per share, which surpassed the Zacks Consensus Estimate of 96 cents. The bottom line rose 27% on a year-over-year basis.
Werner’s total revenues of $765.2 million also outperformed the Zacks Consensus Estimate of $725.1 million. The top line increased 23.4% on a year-over-year basis, primarily on higher revenues in the Truckload Transportation Services and Logistics segments.
C.H. Robinson Worldwide (CHRW - Free Report) , carrying a Zacks Rank #3, reported fourth-quarter 2021 earnings of $1.74 per share, which fell short of the Zacks Consensus Estimate of $1.85. However, the bottom line surged 61.1% year over year.
C.H. Robinson’s total revenues of $6,501.8 million outperformed the Zacks Consensus Estimate of $6,190.8 million. The top line jumped 42.9% year over year owing to higher pricing and volumes across most of the company’s service lines.