Expeditors’ 2Q Profit Improves

Expeditors International of Washington said Tuesday its second-quarter profit rose 10% from a year ago on increased airfreight services revenue.

Net income improved to $92.3 million, or 45 cents a share, from $84 million, or 39 cents, a year ago.

Revenue fell slightly to $1.5 billion, the Seattle-based logistics company said. Operating income rose 8% to $143.6 million and airfreight services revenue increased 5% to $643 million. 

Chairman and CEO Peter Rose said, “While the global economy is still slowly emerging from the fundamental problems that have held it in thrall over the last five years, and slowly is the operative word, we’ve selectively grown market share this quarter.”

Expeditors International of Washington is ranked No. 14 on the Transport Topics Logistics 50 listing of North American logistics companies.