Expeditors reports Q1 EPS 80c, consensus 84c
Reports Q1 revenue $2.02B, consensus $2B. "We are pleased with our results in Q1 2019, especially when we look at the comparison period last year that produced so many records and set an extremely high bar," said Jeffrey S. Musser, President and Chief Executive Officer. "Customs brokerage and import services led the way this quarter on increased volumes and on-boarding new customers. Transcon, warehouse and distribution also posted solid gains on expanded business with current customers, as well as by winning new business. We increased the volume of ocean freight containers shipped by 6%, while also improving net revenue per container, particularly from exports out of North and South Asia. The air market was the only area that was challenged, particularly as customers reduced export volumes out of North Asia. I credit our air group for their efforts in a volatile pricing environment, and I thank everyone throughout our global network for their ongoing effort to handle the increase in volumes and business activity."