The Seattle-based global logistics company posted net earnings of $120.6 million for the third quarter of 2017 amid higher revenues and volumes.
Expeditors International of Washington, Inc. posted net earnings of $120.6 million for the third quarter of 2017, a 12 percent increase from last year’s third quarter as the company experienced a surge in revenues, along with higher air and ocean freight volumes, the company’s latest financial statements revealed.
The Seattle-based global logistics company recorded revenues of $1.8 billion for the third quarter of 2017, rising 15 percent year-over-year.
Airfreight tonnage volumes increased 12 percent from last year’s third quarter, while ocean container volumes ticked up 4 percent.
During the quarter, Expeditors repurchased 3.6 million shares of common stock at an average price of $56.18 per share.
Last Tuesday, the company’s board of directors declared a semi-annual cash dividend of $0.42 per share, payable on Dec. 15, 2017 to shareholders of record as of Dec. 1, 2017.
As of Sept. 30, Expeditors had 16,648 employees – with the top three regions including North America, Europe and North Asia – a significant increase from 15,877 employees 12 months prior.
Expeditors boosts earnings 12% in Q3 2017
