Logistics and freight forwarding company Expeditors (NYSE:EXPD) will be announcing earnings results this Tuesday before the bell. Here’s what to look for.
Expeditors beat analysts’ revenue expectations by 9.2% last quarter, reporting revenues of $2.65 billion, up 8.7% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Expeditors a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Expeditors’s revenue to decline 11.1% year on year to $2.67 billion, a reversal from the 37% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.40 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Expeditors has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Expeditors’s peers in the air freight and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. United Parcel Service’s revenues decreased 3.7% year on year, beating analysts’ expectations by 2.5%, and C.H. Robinson Worldwide reported a revenue decline of 10.9%, falling short of estimates by 2.1%. United Parcel Service traded up 9.1% following the results while C.H. Robinson Worldwide was also up 19.6%.
Read our full analysis of United Parcel Service’s results here and C.H. Robinson Worldwide’s results here.
Investors in the air freight and logistics segment have had steady hands going into earnings, with share prices flat over the last month. Expeditors is down 1.4% during the same time and is heading into earnings with an average analyst price target of $115.19 (compared to the current share price of $121.90).
P.S. STOP buying the AI stocks everyone’s talking about. The real money? It’s in the profitable pick nobody’s watching yet. We’ve identified an AI profit machine that’s flying under Wall Street’s radar—for now. We can’t keep this research public forever—grab your FREE copy before we pull it offline. GO HERE NOW.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.