Expeditors said Q3 2025 revenues declined 4%, with a significant drop in ocean freight and ocean services largely offset by growth in its other services. Ocean freight and ocean services revenues decreased 27%.

10-QQuarterly reportFiled Nov 6, 2025Period of report Sep 30, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Expeditors said Q3 2025 revenues declined 4%, with a significant drop in ocean freight and ocean services largely offset by growth in its other services. Ocean freight and ocean services revenues decreased 27%.
The company cited significant decreases in average ocean sell and buy rates and a 3% decline in ocean containers shipped as factors in the Q3 ocean freight and ocean services revenue decrease of 27%. It added that demand for ocean services declined after U.S. importers accelerated shipments in anticipation of trade tariff changes earlier in the year.
Expeditors said Q3 2025 customs brokerage and other services revenues increased 13% and airfreight services revenues increased 3%. The company cited growing complexity in customs brokerage due to the dynamic trade environment and strong demand from technology customers investing in artificial intelligence infrastructure as factors.
The company said operating cash flow for Q3 2025 was $201 million, compared with $90 million in the prior-year quarter, and for the 9 months was $723 million, compared with $474 million in the prior-year period. It cited changes in working capital as a factor in the increase.

Key figures

Quarter ended September 30, 2025

Revenue: $2.9B
Operating income: $288M
Net income: $222M
EPS: $1.64
Operating cash flow: $201M

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.

Quarterly revenues down 4%, ocean freight down 27%

Expeditors said Q3 2025 revenues declined 4%, with a significant drop in ocean freight and ocean services largely offset by growth in its other services. Ocean freight and ocean services revenues decreased 27%.

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

Ocean average sell and buy rates and container volumes decline

The company cited significant decreases in average ocean sell and buy rates and a 3% decline in ocean containers shipped as factors in the Q3 ocean freight and ocean services revenue decrease of 27%. It added that demand for ocean services declined after U.S. importers accelerated shipments in anticipation of trade tariff changes earlier in the year.

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

Customs brokerage and other services up 13%, airfreight up 3%

Expeditors said Q3 2025 customs brokerage and other services revenues increased 13% and airfreight services revenues increased 3%. The company cited growing complexity in customs brokerage due to the dynamic trade environment and strong demand from technology customers investing in artificial intelligence infrastructure as factors.

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

Operating cash flow for Q3 $201 million, 9 months $723 million

The company said operating cash flow for Q3 2025 was $201 million, compared with $90 million in the prior-year quarter, and for the 9 months was $723 million, compared with $474 million in the prior-year period. It cited changes in working capital as a factor in the increase.

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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