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Expeditors International of Washington Inc - Stock Quote EXPD

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Morningstar's Expeditors International of Washington Inc Stock Analysis

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Expeditors Kicks Off 2022 With Strong Performance Despite Tough Comps and Cyberattack

Matthew Young, CFA Equity Analyst

Business Strategy and Outlook

| Matthew Young, CFA |

Expeditors International ranks among the top 10 global freight forwarders in a fragmented industry, and its record of impressive financial performance leads the pack. The company operates more than 250 offices on six continents, with a core focus on Asia-North America trade lanes, though it's also been gradually expanding its presence on key intra-China and European freight lanes. As a global forwarder, the company contracts with airlines and ocean carriers for cargo space then fills that capacity with customers' freight. A large customs brokerage operation (including warehousing and distribution services) complements air and ocean services, along with multimodal and final-mile delivery services in North America (Transcon). Expeditors' asset-light model generates impressive returns on capital, with help from its wide economic moat, which is rooted in the network effect.

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Expeditors International of Washington Inc's Company Profile

Business Description

Expeditors International of Washington is a non-asset-based third-party logistics provider, mainly focused on international freight forwarding. It employs sophisticated IT systems and contracts with airlines and ocean carriers to move customers' freight across the globe. The firm operates more than 200 full-service office locations worldwide, in addition to numerous satellite locations. In 2021, Expeditors derived 38% of consolidated net revenue from airfreight, 27% from ocean freight, and 35% from customs brokerage and other services.

Contact
1015 Third Avenue
Seattle, WA, 98104
T +1 206 674-3400
Industry Integrated Freight & Logistics
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 19,000

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