Expeditors increases earnings and volumes in Q4
Expeditors International of Washington has reported a strong fourth quarter in 2024, with earnings per share rising by 54% to USD 1.68, and net earnings increasing by 49% to USD 236 million.
The company saw a 30% revenue increase to USD 3 billion, an 11% rise in airfreight tonnage and a 14% increase in ocean container volumes. CEO Jeffrey S. Musser highlighted the facts that demand from Asia, increased e-commerce shipments and extended transit times due to Red Sea disruptions contributed to rate increases.
According to its information Expeditors expanded its road freight, warehousing and distribution services in 2024. Senior vice-president and CFO Bradley S. Powell noted that despite adding staff to support growth, operating income rose 51% year-on-year, maintaining an efficiency target above 30%. In 2024, Expeditors returned over USD 1.1 billion to shareholders through stock repurchases and dividends. (js)