The company said its revenue for Q4 2023 fell 34% from the same quarter a year earlier to $2.3 billion, and its operating income declined 40% to $199 million. Diluted earnings per share fell 21% to $1.09, and net earnings attributable to shareholders decreased 28% to $159 million.

1. 01

   The company said its revenue for Q4 2023 fell 34% from the same quarter a year earlier to $2.3 billion, and its operating income declined 40% to $199 million. Diluted earnings per share fell 21% to $1.09, and net earnings attributable to shareholders decreased 28% to $159 million.

2. 02

   Expeditors said its full-year revenue for 2023 decreased 46% to $9,300,110 thousand, and operating income fell 48% to $939,933 thousand. Airfreight kilos were down 3% and ocean FEU volume fell 10% in Q4.

3. 03

   The company said its operating cash flow for 2023 was $1.1 billion, and that it returned $1.6 billion to shareholders through share repurchases and dividends. During the same period, it repurchased 12.1 million shares at an average price of $114.68, and cash dividends were $1.38 per share.

4. 04

   The company said it reduced headcount in each quarter of 2023, and full-time equivalent employees fell from 20,302 to 18,452 as of December 31. Its chief financial officer said compensation expense for Q4 was 20% lower than in the same quarter a year earlier, but expenses remained high compared with its efficiency target.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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