Expeditors International (EXPD) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.65

$1.53$1.77

vs $1.34+23.1%

11 analysts

Next Qtr

$1.80

$1.69$1.89

vs $1.64+9.8%

11 analysts

Current Yr

$6.79

$6.23$7.10

vs $5.95+14.1%

12 analysts

Next Yr

$6.93

$6.50$7.30

vs $6.79+2.0%

12 analysts

Revenue Estimates

Current Qtr

$2.84B

$2.73B$3.03B

vs $2.65B+7.3%

10 analysts

Next Qtr

$3.05B

$2.88B$3.28B

vs $2.89B+5.4%

9 analysts

Current Yr

$11.62B

$11.22B$12.06B

vs $11.07B+5.0%

13 analysts

Next Yr

$11.98B

$11.17B$12.72B

vs $11.62B+3.1%

13 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for EXPD on EDGAR.

EXPD filing events and research context
Filed	Item	Context
Feb 25, 2026	business	Expeditors International of Washington, Inc. operates as a non-asset-based global logistics provider, coordinating shipments through a worldwide network of offices and agents. The company generates revenue primarily through three service categories: airfreight, ocean freight, and customs brokerage and other services. As an indirect carrier, Expeditors purchases transportation capacity from asset-based providers and resells it to a diverse client base, which includes major sectors such as technology (cloud services, semiconductors, and hardware), healthcare, automotive, and retail. The business is highly sensitive to international trade dynamics, including tariffs, trade restrictions, and geopolitical instability. Because the company does not own transportation assets, its financial performance is driven by volume and the spread between customer sell rates and carrier buy rates. Operations are geographically segmented, with the United States and the People’s Republic of China serving as the most significant markets. Key risks include economic turbulence, fluctuations in currency exchange rates, and potential tax assessments in foreign jurisdictions, such as ongoing disputes with Indian tax authorities. The company maintains a strong focus on liquidity, managing foreign exchange exposure through accelerated settlements, and utilizes a discretionary stock repurchase program to return capital to shareholders.
Feb 25, 2026	mda	Expeditors International of Washington operates as a non-asset-based global logistics provider, generating revenue by purchasing cargo space from carriers and reselling it to customers. The company’s primary service segments include airfreight, ocean freight, and customs brokerage. In 2025, Expeditors reported a 4% revenue increase, driven by strong demand in airfreight and customs brokerage, particularly from technology customers investing in artificial intelligence infrastructure. Conversely, ocean freight revenue declined 11% due to an imbalance between demand and available capacity. The company faces significant operational risks from a volatile international trade environment, characterized by shifting trade volumes, complex tariff rebalancing, and geopolitical tensions. These factors create pricing volatility in both buy and sell rates, challenging the company’s ability to maintain historical margins. As a non-asset-based firm, Expeditors relies on maintaining strong relationships with third-party carriers and navigating diverse regulatory landscapes, including customs compliance and anti-corruption laws. The company emphasizes organic growth over acquisitions and maintains a unified, proprietary technology platform to drive efficiency. While management monitors climate-related risks and potential cyber threats, they remain focused on leveraging their global network and incentive-based compensation model to retain talent and navigate uncertain global trade flows.
Feb 25, 2026	risk_factors	Expeditors faces significant operational risks stemming from the highly competitive and volatile global logistics environment. As a non-asset-based provider, the company is particularly sensitive to fluctuations in freight volumes and the pricing volatility of third-party carriers. Its financial performance is heavily influenced by international trade conditions, including shifting trade tariffs, geopolitical instability, and regulatory changes in key markets like the United States, China, and India. The recent termination of the "de minimis" exemption for low-value imports and ongoing U.S. trade rebalancing efforts create substantial uncertainty for customs brokerage services and global trade flows. Macroeconomic factors, such as persistent inflation, fluctuating oil prices, and high interest rates, further threaten margins, as the company may be unable to pass increased costs to customers without sacrificing volume. Additionally, the company is exposed to foreign currency risk across multiple currencies, including the Chinese Yuan and Indian Rupee, without the use of derivative hedging instruments. Operational risks also include potential disruptions in carrier capacity, security concerns on shipping routes like the Red Sea, and the evolving impact of international e-commerce platforms. Finally, the company’s reliance on complex customs compliance and its exposure to tax audits in various jurisdictions present ongoing legal and financial contingencies.

Filed

Item

Context

Feb 25, 2026

business

Expeditors International of Washington, Inc. operates as a non-asset-based global logistics provider, coordinating shipments through a worldwide network of offices and agents. The company generates revenue primarily through three service categories: airfreight, ocean freight, and customs brokerage and other services. As an indirect carrier, Expeditors purchases transportation capacity from asset-based providers and resells it to a diverse client base, which includes major sectors such as technology (cloud services, semiconductors, and hardware), healthcare, automotive, and retail. The business is highly sensitive to international trade dynamics, including tariffs, trade restrictions, and geopolitical instability. Because the company does not own transportation assets, its financial performance is driven by volume and the spread between customer sell rates and carrier buy rates. Operations are geographically segmented, with the United States and the People’s Republic of China serving as the most significant markets. Key risks include economic turbulence, fluctuations in currency exchange rates, and potential tax assessments in foreign jurisdictions, such as ongoing disputes with Indian tax authorities. The company maintains a strong focus on liquidity, managing foreign exchange exposure through accelerated settlements, and utilizes a discretionary stock repurchase program to return capital to shareholders.

Feb 25, 2026

mda

Expeditors International of Washington operates as a non-asset-based global logistics provider, generating revenue by purchasing cargo space from carriers and reselling it to customers. The company’s primary service segments include airfreight, ocean freight, and customs brokerage. In 2025, Expeditors reported a 4% revenue increase, driven by strong demand in airfreight and customs brokerage, particularly from technology customers investing in artificial intelligence infrastructure. Conversely, ocean freight revenue declined 11% due to an imbalance between demand and available capacity. The company faces significant operational risks from a volatile international trade environment, characterized by shifting trade volumes, complex tariff rebalancing, and geopolitical tensions. These factors create pricing volatility in both buy and sell rates, challenging the company’s ability to maintain historical margins. As a non-asset-based firm, Expeditors relies on maintaining strong relationships with third-party carriers and navigating diverse regulatory landscapes, including customs compliance and anti-corruption laws. The company emphasizes organic growth over acquisitions and maintains a unified, proprietary technology platform to drive efficiency. While management monitors climate-related risks and potential cyber threats, they remain focused on leveraging their global network and incentive-based compensation model to retain talent and navigate uncertain global trade flows.

Feb 25, 2026

risk_factors

Expeditors faces significant operational risks stemming from the highly competitive and volatile global logistics environment. As a non-asset-based provider, the company is particularly sensitive to fluctuations in freight volumes and the pricing volatility of third-party carriers. Its financial performance is heavily influenced by international trade conditions, including shifting trade tariffs, geopolitical instability, and regulatory changes in key markets like the United States, China, and India. The recent termination of the "de minimis" exemption for low-value imports and ongoing U.S. trade rebalancing efforts create substantial uncertainty for customs brokerage services and global trade flows. Macroeconomic factors, such as persistent inflation, fluctuating oil prices, and high interest rates, further threaten margins, as the company may be unable to pass increased costs to customers without sacrificing volume. Additionally, the company is exposed to foreign currency risk across multiple currencies, including the Chinese Yuan and Indian Rupee, without the use of derivative hedging instruments. Operational risks also include potential disruptions in carrier capacity, security concerns on shipping routes like the Red Sea, and the evolving impact of international e-commerce platforms. Finally, the company’s reliance on complex customs compliance and its exposure to tax audits in various jurisdictions present ongoing legal and financial contingencies.

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EXPD filing events and research context

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