Expeditors authorizes $3 billion share repurchase program

Expeditors International of Washington Inc. (NYSE: EXPD) announced that its board of directors authorized a new share repurchase program allowing the company to buy back up to $3 billion of its common stock. The authorization was approved on February 23, 2026.

The new repurchase program will become effective when the current authorization expires. The existing program, approved by the board on February 19, 2024, permits the company to repurchase outstanding shares down to 130 million.

"The first priority of our capital deployment strategy is to invest in organic growth initiatives," said David A. Hackett, senior vice president and chief financial officer. "Given our capital-efficient business model and significant operating cash flows, we expect substantial excess cash after making such investments."

Hackett said the company plans to return excess cash to shareholders through dividends and share repurchases. He noted that Expeditors maintains dividend aristocrat status, which refers to companies that have increased dividend payments for at least 25 consecutive years.

Expeditors operates as a global logistics company based in Bellevue, Washington. The company provides freight forwarding, customs brokerage, warehousing and distribution services through 172 district offices and branch locations across six continents.

The announcement was made through a press release statement from the company.

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