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Expeditors International (EXPD) Up 8.1% Since Last Earnings Report: Can It Continue?

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A month has gone by since the last earnings report for Expeditors International (EXPD - Free Report) . Shares have added about 8.1% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Expeditors International due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

Expeditors' Beats on Q1 Earnings & Revenues

Expeditors' first-quarter 2024 earnings of $1.17 per share beat the Zacks Consensus Estimate of $1.10. The bottom line plunged 19% year over year due to volume woes. Total revenues of $2,206.67 million beat the Zacks Consensus Estimate of $2,172 million but declined 15% year over year.

Airfreight tonnage and ocean container volumes surged 4% and 2%, respectively.

Operating income fell 22% year over year to $214.77 million. Total operating expenses fell 14% to $1.99 billion.

Airfreight Services revenues tumbled 16.1% year over year to $759.37 million in the first quarter of 2024. Ocean freight and ocean services revenues decreased 18.1% to $570.78 million. Customs Brokerage and other services revenues fell 11.5% year over year to $876.51 million.

In the first quarter of 2024, Expeditors repurchased 3 million shares at an average price of $120.17 per share.

EXPD exited the first-quarter 2024 with cash and cash equivalents of $1.37 billion compared with $1.51 billion at the end of prior quarter.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed an upward trend in estimates revision.

The consensus estimate has shifted 5.49% due to these changes.

VGM Scores

Currently, Expeditors International has a great Growth Score of A, a grade with the same score on the momentum front. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Expeditors International has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Expeditors International is part of the Zacks Transportation - Services industry. Over the past month, Schneider National (SNDR - Free Report) , a stock from the same industry, has gained 0.7%. The company reported its results for the quarter ended March 2024 more than a month ago.

Schneider National reported revenues of $1.32 billion in the last reported quarter, representing a year-over-year change of -7.7%. EPS of $0.11 for the same period compares with $0.55 a year ago.

For the current quarter, Schneider National is expected to post earnings of $0.19 per share, indicating a change of -57.8% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.8% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #5 (Strong Sell) for Schneider National. Also, the stock has a VGM Score of B.


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