SEATTLE's expeditors International has reported first-quarter earnings above Wall Street expectations, driven by increased shipping demand ahead of anticipated tariff hikes, reports Reuters.
CEO Daniel Wall noted that despite unpredictable market conditions, air freight tonnage rose nine per cent, and ocean container volume increased eight per cent year over year.
On an adjusted basis, the company reported a profit of US$1.47 per share, surpassing analysts' estimates of $1.37.
The forwarder posted $2.67 billion in revenue, with air freight revenue rising 18.8 per cent to $902 million. Despite the strong performance, shares of Expeditors fell five per cent to $107.
SeaNews Turkey
CEO Daniel Wall noted that despite unpredictable market conditions, air freight tonnage rose nine per cent, and ocean container volume increased eight per cent year over year.
On an adjusted basis, the company reported a profit of US$1.47 per share, surpassing analysts' estimates of $1.37.
The forwarder posted $2.67 billion in revenue, with air freight revenue rising 18.8 per cent to $902 million. Despite the strong performance, shares of Expeditors fell five per cent to $107.
SeaNews Turkey
