Expeditors International of Washington, Inc. (NASDAQ:EXPD) reported fourth-quarter 2018 earnings per share of $1.02 per share, surpassing the Zacks Consensus Estimate of 85 cents. Earnings increased significantly on a year-over-year basis. Results were aided by higher revenues.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Expeditors depicted a rosy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings being revised 1.2% upward over the last 60 days
Prior to the earnings beat in the fourth-quarter, the company delivered positive surprises in each of the trailing four quarters. The average beat was 12.2%.
Expeditors International of Washington, Inc. Price and EPS Surprise
Expeditors International of Washington, Inc. Price and EPS Surprise | Expeditors International of Washington, Inc. Quote
Revenues Better Than Expected
Revenues came in at $2.24 billion outpacing the Zacks Consensus Estimate of $2.13 billion. The top line improved 18% from the year-ago figure.
Key Stats to Note: Airfreight Services revenues improved 6% year over year to $905.6 million in the fourth quarter. Ocean Freight and Ocean Services revenues increased 18% to $615 million. Customs Brokerage and Other Services revenues increased 36 % year over year to approximately $714.9 million.
Zacks Rank: Currently, Expeditors carries a Zacks Rank #1 (Strong Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this Expeditors earnings report later!
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Expeditors International of Washington, Inc. (EXPD): Free Stock Analysis Report
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