Expeditors First-Quarter Profits Rise 4%
Expeditors International of Washington’s first-quarter profit rose 4% from a year ago, and the company said it is “very encouraged by how the first quarter finished up.”
Net income improved to $83.8 million, or 42 cents a share, from $80.3 million, or 39 cents, a year ago.
Revenue increased 6% to about $1.5 billion, the Seattle-based logistics company said. Operating income rose 5% to $128.5 million.
“There were several significant external challenges this quarter, including weather issues and continued concern over the strength of the economy. We’ve always believed that challenging times can only be managed through disciplined execution,” Chairman and CEO Peter Rose said in a statement.
Expeditors International of Washington ranks No. 16 on the Transport Topics Top 50 list of the largest logistics companies in the United States, Canada and Mexico based on revenue.
