Expeditors’ top tier Q2 followed by tough start to Q3 — Panjiva
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Expeditors’ top tier Q2 followed by tough start to Q3

Corp - Forwarders 347 Earnings 759 Mode - Airfreight 182 Mode - Containerized 1524 Mode - Seaborne 1845 U.S. 5400

Expeditors reported a 26.8% year over year gain in revenues in Q2, or 13.1% when excluding third party costs. That was a full 41.0% points better than analysts’ expectations as a result of a surge in business in Asia which offset weakness in the U.S. That made Expeditors one of the best performers in the freight forwarding sector in Q2 in terms of revenue growth and was just behind UPS and DSV Panalpina. Expeditors’ total ocean freight handling nonetheless dropped by 14.0% year over year in Q2. U.S. seaborne imports linked to the firm have continued to decline with a 14.2%...

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