The company said Q3 2024 ocean containers shipped rose 12% and airfreight tonnage rose 19% compared with Q3 2023, and that operating income increased 40% from Q3 2023 and 35% from Q2 2024.

10-QQuarterly reportFiled Nov 5, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said Q3 2024 ocean containers shipped rose 12% and airfreight tonnage rose 19% compared with Q3 2023, and that operating income increased 40% from Q3 2023 and 35% from Q2 2024.
Expeditors said ocean freight and ocean services revenue rose 82% and expenses rose 102% in Q3 2024. The company cited higher average sell and buy rates, up 101% and 115% respectively, and a 12% increase in containers shipped as factors behind the ocean freight consolidation revenue and expense increases of 125% and 142%.
Expeditors said net cash provided by operating activities was $90 million for Q3 2024, down from $190 million for $895 million in the same period of the prior year, and that the 9-month total of $474 million fell as well. The company cited changes in working capital as a factor in the decline.
As of September 30, 2024, Expeditors had cash and cash equivalents of $1,293 million and, excluding lease liabilities, no long-term obligations or debt, the company said. It also said it repurchased 1.2 million shares of common stock in Q3 2024 and 5.1 million shares over the 9 months.

Key figures

Quarter ended September 30, 2024

Revenue: $3.0B
Operating income: $302M
Net income: $230M
EPS: $1.63
Operating cash flow: $90M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Air and Ocean Volumes and Operating Income in Q3 2024

The company said Q3 2024 ocean containers shipped rose 12% and airfreight tonnage rose 19% compared with Q3 2023, and that operating income increased 40% from Q3 2023 and 35% from Q2 2024.

Source · Based on the MD&A text of the filing

Ocean Freight Revenue and Expense Growth in Q3

Expeditors said ocean freight and ocean services revenue rose 82% and expenses rose 102% in Q3 2024. The company cited higher average sell and buy rates, up 101% and 115% respectively, and a 12% increase in containers shipped as factors behind the ocean freight consolidation revenue and expense increases of 125% and 142%.

Source · Based on the MD&A text of the filing

Lower Operating Cash Flow and Working Capital

Expeditors said net cash provided by operating activities was $90 million for Q3 2024, down from $190 million for $895 million in the same period of the prior year, and that the 9-month total of $474 million fell as well. The company cited changes in working capital as a factor in the decline.

Source · Based on the MD&A text of the filing

Cash and Share Repurchases as of September 30

As of September 30, 2024, Expeditors had cash and cash equivalents of $1,293 million and, excluding lease liabilities, no long-term obligations or debt, the company said. It also said it repurchased 1.2 million shares of common stock in Q3 2024 and 5.1 million shares over the 9 months.

Source · Based on the MD&A text of the filing

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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