EXPD · 10-Q · 2026Q3 · Full report
Operating Income and Margins
EXPEDITORS INTERNATIONAL OF WASHINGTON INC · 2026-11-04 · Importance 64 · Surprise 56 · No source text
Third-quarter 2026 operating income increased 55% to $445.4 million from $288.0 million, while nine-month operating income increased 36% to $1.090 billion from $801.6 million. Third-quarter operating income grew faster than revenue, which increased 42%, as strong performance and volumes across services lifted results. Airfreight expenses rose 53% against 51% revenue growth in the quarter, and ocean expenses rose 59% against 48% revenue growth, reflecting higher carrier costs. In North America customs brokerage and other services, expenses grew 51% against 38% revenue growth because high-value technology road freight shipments require specialized services and yield higher per-shipment profitability but lower margin percentages.
Key facts
- Expeditors’ revenues increased 42% and operating income increased 55% in the third quarter of 2026 compared with the third quarter of 2025. source
- Expeditors’ earnings per share increased 62% to $2.65 in the third quarter of 2026. source
- The financial impact of the Middle East disruptions on Expeditors’ MAIR region operations was not material and was mitigated by its ability to adjust customer shipment routing. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +29.6% | Expeditors’ revenues increased 42% and operating income increased 55% in the third quarter of 2026 compared with the third quarter of 2025. |
| operating_income | positive | realized | — | Expeditors’ revenues increased 42% and operating income increased 55% in the third quarter of 2026 compared with the third quarter of 2025. |
| margin | positive | realized | — | Expeditors’ revenues increased 42% and operating income increased 55% in the third quarter of 2026 compared with the third quarter of 2025. |
| net_income | positive | realized | — | Expeditors’ earnings per share increased 62% to $2.65 in the third quarter of 2026. |