EXPD · 10-Q · 2026Q2
EXPEDITORS INTERNATIONAL OF WASHINGTON INC
Filed 2026-08-05 · Other · View original filing on EDGAR
USD 3,502,335KTotal Revenue
USD 5,134,910KTotal Assets
16Topics
78Top Importance
Ranked Events
- AI Infrastructure DemandImportance 78 · Surprise 74Technology customers continued investing in artificial intelligence infrastructure, driving strong demand for airfreight, road freight, warehousing and distribution services. Second-quarter 2026 airfreight revenue…
- Airfreight Demand and CapacityImportance 69 · Surprise 64Airfreight revenue increased 57% in the second quarter and 36% in the first half of 2026, reflecting higher demand from technology customers. Second-quarter tonnage rose 14%, with the strongest increases on exports…
- Revenue Performance and MixImportance 64 · Surprise 56Second-quarter 2026 revenues increased 32% year over year, driven by strong volumes across most services. Airfreight services revenue increased 57% to $1,494.8 million, supported by a 44% increase in average sell rates…
- Customs Brokerage GrowthImportance 59 · Surprise 48Customs brokerage and other services revenue increased 27% in the second quarter and 22% in the first half of 2026. Growth reflected higher numbers and complexity of customs clearances, as well as increased road…
- Operating Expense TrendsImportance 59 · Surprise 48Second-quarter salaries and related costs increased 22% year over year to $573.7 million, while six-month salaries and related costs increased 15% to $1,073.3 million. The increase reflected a 4% increase in headcount,…
- Capital Return ProgramImportance 58 · Surprise 42Expeditors returned $461 million to shareholders through common-stock repurchases and dividends during the second quarter of 2026. The company repurchased 2.3 million shares during the quarter at an average price of…
- Operating Income and MarginsImportance 58 · Surprise 56Second-quarter 2026 operating income increased 41% to $349.6 million from $247.7 million in the prior-year quarter, while six-month operating income increased 25% to $644.4 million. The quarterly operating margin was…
- Ocean Capacity and PricingImportance 51 · Surprise 64Ocean supply-demand conditions shifted from excess capacity in the first quarter to a more balanced environment in the second quarter as demand improved. Carrier blank sailings and other restrictive capacity measures…
- Ocean Freight Demand RecoveryImportance 49 · Surprise 32Ocean freight and ocean services revenue increased 5% in the second quarter of 2026, although first-half revenue declined 10% because excess capacity pressured rates during the first quarter. Ocean freight…
- Liquidity and Debt PositionImportance 48 · Surprise 14At June 30, 2026, Expeditors held $1,031 million of cash and cash equivalents and reported $1,448 million of working capital. Operating cash flow was $179 million in the second quarter and $488 million for the first…
- FX / Currency HeadwindsImportance 45 · Surprise 64Net foreign-currency transaction losses were approximately $8 million in the second quarter of 2026 and $6 million for the first six months, compared with losses of $12 million and $17 million in the corresponding 2025…
- Trade Policy and TariffsImportance 41 · Surprise 60Beginning in the first quarter of 2025, the U.S. Government imposed substantially higher import tariffs, followed by additional sector- and country-specific measures and retaliatory actions involving countries…
- Headcount / RestructuringImportance 40 · Surprise 42Expeditors announced a restructuring of its Global Technology group during the second quarter of 2026. The company recorded $25 million of restructuring-related expenses in the quarter, representing the majority of the…
- Order Management ExpansionImportance 35 · Surprise 48Order management revenue increased 21% in the second quarter and 17% in the first half of 2026, with expenses increasing at similar rates. Growth was driven by higher volumes from both new and existing customers.…
- Income Tax Rate ChangesImportance 30 · Surprise 40The consolidated effective tax rate declined to 25.4% in the second quarter of 2026 from 28.7% in the prior-year quarter. The six-month effective tax rate declined to 25.2% from 27.3%, reducing the tax rate on $664.9…
- Capital ExpendituresImportance 25 · Surprise 6Expeditors’ 2026 capital expenditures are estimated at approximately $60 million. Planned investments include technology infrastructure, leasehold and building improvements, technology and facilities equipment, and…
Revenue by Product (in thousands)
| 2025 (three months ended June 30) | segment | 2026 (three months ended June 30) | 2026 (six months ended June 30) | 2025 (six months ended June 30) |
|---|---|---|---|---|
| 951,787 | Airfreight services | 1,494,842 | 2,525,705 | 1,853,547 |
| 675,782 | Ocean freight and ocean services | 710,922 | 1,309,806 | 1,457,447 |
| 1,024,316 | Customs brokerage and other services | 1,296,571 | 2,449,786 | 2,007,310 |
Revenue by Geography (in thousands)
| 2025 (three months ended June 30) | region | 2025 (six months ended June 30) | 2026 (six months ended June 30) | 2026 (three months ended June 30) |
|---|---|---|---|---|
| 877,325 | UNITED STATES | -- | 2,118,829 | 1,164,252 |
| 108,128 | OTHER NORTH AMERICA | -- | 271,494 | 141,860 |
| 66,904 | LATIN AMERICA | -- | 127,176 | 68,181 |
| 636,785 | NORTH ASIA | -- | 1,419,962 | 817,046 |
| 359,531 | SOUTH ASIA | -- | 991,955 | 568,779 |
| 449,712 | EUROPE | -- | 968,759 | 519,885 |
| 155,458 | MIDDLE EAST, AFRICA AND INDIA | -- | 392,374 | 225,216 |
| -1,958 | ELIMINATIONS | -- | -5,252 | -2,884 |
| 2,651,885 | CONSOLIDATED | -- | 6,285,297 | 3,502,335 |