Expeditors Int'l (EXPD) Beats on Top and Bottom Lines But Shares Flat
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Price: $186.40 --0%
Financial Fact:
Other income, net: 3.85M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Other income, net: 3.85M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Expeditors International of Washington Inc. (NASDAQ: EXPD) posted better-than-expected results for the second quarter on Monday as the company saw net income rise 67 percent.
The provider of global logistics services reported quarterly earnings of $90.3 million or 42 cents per share, up from $54 million or 25 cents per share in the same quarter last year.
Revenue for the company rose 69 percent from $895 million last year to $1.5 billion in the three month period ended June 30, 2010.
On average, analysts had been looking for Expeditors to report earnings of 39 cents per share on sales of $1.36 billion during the second quarter.
“The ultimate testament to the strength of this quarter might be that when the numbers were finalized, we’d actually managed to surprise ourselves by a couple of cents,” said Peter J. Rose, Chairman and Chief Executive Officer. “Having the opportunity to add value to the supply-chains of successful companies is what adds value to Expeditors. The fact that this quarter’s net revenue was actually 5 percent higher than second quarter 2008 levels was particularly reassuring. While it’s much too soon to extrapolate this quarter’s results over the remainder of 2010, we think operating above second quarter 2008 levels is a positive development.”
Shares of Expeditors International are down just a penny to $42.63 today.
The provider of global logistics services reported quarterly earnings of $90.3 million or 42 cents per share, up from $54 million or 25 cents per share in the same quarter last year.
Revenue for the company rose 69 percent from $895 million last year to $1.5 billion in the three month period ended June 30, 2010.
On average, analysts had been looking for Expeditors to report earnings of 39 cents per share on sales of $1.36 billion during the second quarter.
“The ultimate testament to the strength of this quarter might be that when the numbers were finalized, we’d actually managed to surprise ourselves by a couple of cents,” said Peter J. Rose, Chairman and Chief Executive Officer. “Having the opportunity to add value to the supply-chains of successful companies is what adds value to Expeditors. The fact that this quarter’s net revenue was actually 5 percent higher than second quarter 2008 levels was particularly reassuring. While it’s much too soon to extrapolate this quarter’s results over the remainder of 2010, we think operating above second quarter 2008 levels is a positive development.”
Shares of Expeditors International are down just a penny to $42.63 today.
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