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Expeditors (EXPD) Q4 Earnings Surpass Estimates, Up Y/Y
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Expeditors International of Washington, Inc. (EXPD - Free Report) performed impressively in the fourth quarter of 2017, reporting better-than-expected earnings and revenues.
The company’s earnings (excluded 21 cents from non-recurring items) of 71 cents per share, surpassed the Zacks Consensus Estimate of 64 cents.Also, the bottom line increased 16.4% on a year-over-year basis. Results were aided by higher revenues.
Revenues came in at $1.9 billion outpacing the Zacks Consensus Estimate of $1.8 billion. The top line improved 16% from the year-ago figure. Growth was witnessed across all major divisions of the company. Volumes with respect to airfreight tonnage and ocean container also increased 6% and 1%, respectively.
Gross profit (net revenues) increased 15% year over year in the final quarter of 2017 to $628.81 million. Gross margin (yield) came in at 33.1% compared with 33.41% in the year-ago quarter.
In the fourth quarter, the company repurchased 2.1 million shares at an average price of $64.52 per share. This Zacks Rank #2 (Buy) company exited 2017 with cash and cash equivalents of $1.05 billion compared with $974.44 million at the end of 2016. 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
Airfreight Services revenues improved 24% year over year to $854.45 million in the fourth quarter. Ocean Freight and Ocean Services revenues also improved 3.6% year over year to $521.32 million. Customs Brokerage and Other Services revenues were up 16.8 % year over year to approximately $525.61 million.
Upcoming Releases
Investors interested in the broader Zacks Transportation industry are keenly awaiting fourth-quarter earnings reports from key players like Copa Holdings, S.A. (CPA - Free Report) , LATAM Airlines Group S.A. (LTM - Free Report) and Gol Linhas Aéreas Inteligentes S.A. . While Copa is scheduled to release fourth-quarter results on Feb 21, Gol Linhas and LATAM Airlines will unveil their results on Mar 7 and Mar 14, respectively.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Image: Bigstock
Expeditors (EXPD) Q4 Earnings Surpass Estimates, Up Y/Y
Expeditors International of Washington, Inc. (EXPD - Free Report) performed impressively in the fourth quarter of 2017, reporting better-than-expected earnings and revenues.
The company’s earnings (excluded 21 cents from non-recurring items) of 71 cents per share, surpassed the Zacks Consensus Estimate of 64 cents. Also, the bottom line increased 16.4% on a year-over-year basis. Results were aided by higher revenues.
Revenues came in at $1.9 billion outpacing the Zacks Consensus Estimate of $1.8 billion. The top line improved 16% from the year-ago figure. Growth was witnessed across all major divisions of the company. Volumes with respect to airfreight tonnage and ocean container also increased 6% and 1%, respectively.
Gross profit (net revenues) increased 15% year over year in the final quarter of 2017 to $628.81 million. Gross margin (yield) came in at 33.1% compared with 33.41% in the year-ago quarter.
In the fourth quarter, the company repurchased 2.1 million shares at an average price of $64.52 per share. This Zacks Rank #2 (Buy) company exited 2017 with cash and cash equivalents of $1.05 billion compared with $974.44 million at the end of 2016. 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. Quote
Segmental Revenues
Airfreight Services revenues improved 24% year over year to $854.45 million in the fourth quarter. Ocean Freight and Ocean Services revenues also improved 3.6% year over year to $521.32 million. Customs Brokerage and Other Services revenues were up 16.8 % year over year to approximately $525.61 million.
Upcoming Releases
Investors interested in the broader Zacks Transportation industry are keenly awaiting fourth-quarter earnings reports from key players like Copa Holdings, S.A. (CPA - Free Report) , LATAM Airlines Group S.A. (LTM - Free Report) and Gol Linhas Aéreas Inteligentes S.A. . While Copa is scheduled to release fourth-quarter results on Feb 21, Gol Linhas and LATAM Airlines will unveil their results on Mar 7 and Mar 14, respectively.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>