Expeditors International of Washington
The 10-second takeaway
For the quarter ended June 30 (Q2), Expeditors International of Washington missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped.
Margins contracted across the board.
Expeditors International of Washington reported revenue of $1.50 billion. The 15 analysts polled by S&P Capital IQ wanted to see a top line of $1.60 billion on the same basis. GAAP reported sales were 4.8% lower than the prior-year quarter's $1.58 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.39. The 18 earnings estimates compiled by S&P Capital IQ predicted $0.43 per share. GAAP EPS of $0.39 for Q2 were 11% lower than the prior-year quarter's $0.44 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 12.2%, 60 basis points worse than the prior-year quarter. Operating margin was 8.8%, 80 basis points worse than the prior-year quarter. Net margin was 5.6%, 40 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.74 billion. On the bottom line, the average EPS estimate is $0.50.
Next year's average estimate for revenue is $6.42 billion. The average EPS estimate is $1.78.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 502 members out of 526 rating the stock outperform, and 24 members rating it underperform. Among 155 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 150 give Expeditors International of Washington a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Expeditors International of Washington is hold, with an average price target of $47.09.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Expeditors International of Washington. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.