Reported 2 months ago
Expeditors International experienced a significant increase in airfreight tonnage in Q2 2024, with a 15% rise year-on-year, contrasting with a 3% decline in ocean freight for every month of the quarter. The company's costs increased by 16% compared to a revenue growth of only 9%, leading to a 10% drop in operating income. CEO Jeffrey Musser noted market disruptions and challenges in forecasting due to unpredictable global shipping conditions. Despite these challenges, Expeditors remains a consistent dividend-payer.
Source: YAHOO