Earnings Summary: A snapshot of Expeditors International’s Q2 results

Expeditors International of Washington, Inc. (NASDAQ: EXPD) announced financial results for the second quarter of 2023. The logistics company said it would continue the efforts to streamline costs to align with the slowdown in demand.

  • Earnings attributable to shareholders, on a per-share basis, was $1.30 in the June quarter, down 43% year-over-year
  • Net income attributable to shareholders decreased 48% year-over-year to $197 million during the three-month period
  • Second-quarter operating income was $248 million, down 51% from the prior-year period
  • The bottom line was negatively impacted by a 51% fall in revenues to $2.2 billion
  • In Q2, airfreight tonnage volume decreased 15%, and ocean container volume dropped13%

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