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Expeditors International of Washington’s 2Q17 Earnings

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Expeditors International of Washington’s 2Q17 Earnings PART 1 OF 7

Expeditors International Meets 2Q17 Earnings Estimate, Stock Fell 5.3%

EXPD’s 2Q17 earnings

On August 8, 2017, Expeditors International of Washington (EXPD), a major third-party logistics company, announced its 2Q17 earnings. EXPD reported adjusted earnings per share (or EPS) in 2Q17 of $0.60 against its estimated EPS of $0.61. The company’s adjusted EPS fell 5% to $0.63 in 2Q17 compared with $0.63 in 2Q16.

Expeditors International Meets 2Q17 Earnings Estimate, Stock Fell 5.3%

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Stock price reaction

Along with the US, the global freight environment has been subdued. This can be ascertained from the fluctuations in the spot rates in the truckload and less-than-truckload space. However, the volatility in freight rates has been lower than in 2016. Although current conditions have improved compared with the previous year, the sustainability of the slightly improved scenario remains a question.

On August 7, 2017, Expeditors International of Washington’s stock price closed at $59.06. On August 8, the company announced its 2Q17 earnings. Its stock fell 5.3% and closed at $55.90. Since January 1, 2017, EXPD has returned 2.8% to investors. During the same period, its closest peer, C.H. Robinson Worldwide (CHRW), returned -10.4%. Below are the returns of EXPD’s peers:

  • United Parcel Service (UPS): -0.4%
  • FedEx (FDX): 10.0%
  • XPO Logistics (XPO): 29.0%
  • YRC Worldwide (YRCW): 7.6%
  • Forward Air Corp. (FWRD): 7.4%

The iShares US Industrials ETF (IYJ), with 12% exposure to US airlines and railroads combined, has returned 9.1% since the beginning of 2017.

Series overview

In this series, we’ll discuss EXPD’s overall and segmental 2Q17 revenues. We’ll conclude this post-earnings series with analysts’ views on the company and its peers.

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