Expeditors International of Washington, Inc. (NYSE:EXPD) shares are trading lower on Tuesday after the company announced fourth-quarter earnings per share of $1.49, beating the street view of $1.46.
• Expeditors International stock is feeling bearish pressure. What’s behind EXPD decline?
Earnings Snapshot
Quarterly sales of $2.855 billion, down 3% year-over-year, outpaced the analyst consensus estimate of $2.832 billion.
Airfreight services revenues expanded to $1.11 billion from $1.06 billion, while ocean freight and ocean services revenues declined to $611 million from $908 million a year ago quarter.
Airfreight tonnage rose 6% Y/Y while ocean container volume fell 6% Y/Y in the quarter.
Operating income in the quarter under review fell to $251 million …