Expeditors flying high
The Fortune 500 logistics company Expeditors International headquartered in Seattle, Washington, has reported its Q4/2020 financial results.
Net earnings saw an uptick of 45% to USD 199 million, as operating income took a leap of 56% to USD 282 million. Revenues also increased significantly by 55% to USD 3.2 billion. Air freight tonnage volume went up by 10% and ocean container volume by 19%.
Altogether, the company moved more freight in the fourth quarter of 2020 than in any other quarter in its history. For the full year of 2020, revenues climbed 24% to USD 10.1 billion, as operating income grew 23% to USD 940 million. Net earnings attributable to shareholders surged by 18% to USD 696 million.
Looking ahead, Expeditors said that "it will continue to make important investments in people, processes and technology, as well as to invest in strategic efforts to explore new areas for profitable growth." (sh)