Expeditors International of Washington
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Expeditors International of Washington missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted significantly.
Margins dropped across the board.
Revenue details
Expeditors International of Washington logged revenue of $1.53 billion. The 14 analysts polled by S&P Capital IQ expected to see revenue of $1.59 billion on the same basis. GAAP reported sales were 4.7% lower than the prior-year quarter's $1.61 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.42. The 17 earnings estimates compiled by S&P Capital IQ anticipated $0.44 per share. GAAP EPS of $0.42 for Q3 were 16% lower than the prior-year quarter's $0.50 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 12.5%, 80 basis points worse than the prior-year quarter. Operating margin was 9.5%, 70 basis points worse than the prior-year quarter. Net margin was 5.8%, 80 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $1.56 billion. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $5.96 billion. The average EPS estimate is $1.63.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 517 members out of 540 rating the stock outperform, and 23 members rating it underperform. Among 169 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 165 give Expeditors International of Washington a green thumbs-up, and four 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 $41.08.
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