Expeditors reports Q2 growth in airfreight sector | Air Cargo World
Air Cargo World
Subscribe
  • News
  • Data & Tools
  • Events
    • Cargo Airport Growth Summit
    • Cargo Facts Symposium
    • Cargo Facts EMEA
    • Cargo Facts Asia
  • Multimedia
  • Podcast
  • Magazine
  • Features
Thursday, March 4, 2021
Log In
No Result
View All Result
  • Airports
  • Carriers
  • COVID-19 Vaccine Logistics
  • E-Commerce
  • Freight Forwarders
  • Technology
Air Cargo World
  • News
  • Data & Tools
  • Events
    • Cargo Airport Growth Summit
    • Cargo Facts Symposium
    • Cargo Facts EMEA
    • Cargo Facts Asia
  • Multimedia
  • Podcast
  • Magazine
  • Features
Log In
No Result
View All Result
Air Cargo World
No Result
View All Result

Expeditors reports Q2 growth in airfreight sector

Randy Woods by Randy Woods
August 7, 2018
in All Posts, Cargo Traffic, E-Commerce, Freight Forwarders
Reading Time: 2min read
Share on FacebookShare on TwitterShare on Pinterest

Seattle-based freight forwarder Expeditors International of Washington today reported a stong performance in its airfreight services in its the second quarter of 2018, but said oceanfreight struggled due to pricing issues.

“We continued to add profitable growth from new and existing customers during the quarter, particularly in air and some of our differentiated, best-in-class services, such as brokerage, Transcon, and order management,” said Jeffrey S. Musser, President and Chief Executive Officer. “Similar to the first quarter of this year, we remained disciplined on pricing in this strong economy.”

During the quarter, airfreight tonnage volume increased 4 percent, Expeditors said, while ocean container volume increased just 1 percent.

Expeditors also said its net revenues in Q2 2018 increased by 14 percent, year-over-year, to US$643 million, while “net earnings attributable to shareholders” rose by  29 percent to $141 million, compared to the same period last year. Meanwhile, operating income increased 9 percent to $184 million, y-o-y, and overall revenues increased 17 percent to $2 billion.

At the same time, Expeditors said its seafreight business suffered a bit in Q2 as net revenues were down 5 percent, y-o-y, with a 1 percent increase in volumes, as carriers took steps to mitigate the impact of volatile pricing, excess capacity, and higher fuel costs. However, Musser added, the company saw a “strong performance” in its ocean forwarding and order management businesses. “We are continuing to invest in people and assets in the development and support of profitable revenue growth, most notably during Q2 in Europe and North America,” he added.

Musser also brought up the unease that many transportation logistics companies have felt this year regarding the wave of protectionist measures that have recently been implemented, but said it is too tell how much of an impact they will have.  “While we have yet to see changes to supply chains as a result of possible trade wars, we are confident in the capabilities of our people throughout our global network to help our customers navigate the potential impact of new tariffs,” he said.

Tags: expeditorsquarterly results
Previous Post

DP-DHL Group reports troubles in Post-eCommerce-Parcel sector in second quarter

Next Post

Anchorage Airport sees decent traffic growth in H1 2018

Related Posts

Dozens of cargo flights canceled at LAX as COVID-19 takes toll
Cargo Traffic

February airfreight rate volatility creates risky environment for forwarders

March 4, 2021
Kuehne + Nagel expands network with Jöbstl Group, Worldwide Perishable Canada acquisitions
Freight Forwarders

Modal shift from sea lifts Kuehne+Nagel air yield in Q4

March 3, 2021
Crane Worldwide opens new Dallas facility
Freight Forwarders

Crane Worldwide’s Keith Winters joins webinar panel on forwarder growth strategies

March 3, 2021
Next Post

Anchorage Airport sees decent traffic growth in H1 2018

By subscribing you agree to our Terms of Use and Privacy Policy

Current Issue Magazine Cover

FROM OUR CONTRIBUTORS

Automotive industry transformation and tariffs have long-term implications for airfreight

Consultant Insight: Brighter days may be ahead for automotive supply chain

February 26, 2021
UN recruits 40 airlines to deliver vaccine to poorest states

Air cargo expectations adjust to vaccine shipment requirements

February 23, 2021
Delta to launch BOM-JFK 777 service beginning Dec. 22

Consultant Insight: Post-pandemic airline survival depends on transformation

February 19, 2021

SPONSORED

Apex reduces retailer lead times and costs—increasing air charters by 225%

Apex reduces retailer lead times and costs, increasing air charters by 225%

January 29, 2021
Delta Cargo introduces priority COVID-19 vaccine handling

Delta Cargo introduces priority COVID-19 vaccine handling

December 31, 2020
Executive Q&A with Manu Jacobs, Director of Specialty Products, United Cargo

Executive Q&A with Manu Jacobs, Director of Specialty Products, United Cargo

December 17, 2020
  • About Us
  • Help Center
  • Privacy Terms
  • ADA Compliance
  • Advertise

Follow Us

twitter twitter linkedin podcast

© 2021 Royal Media & Air Cargo World

No Result
View All Result
  • News
    • All News
    • Airports
    • Carriers
    • COVID-19 Vaccine Logistics
    • E-Commerce
    • Freight Forwarders
    • Technology
  • Data & Tools
  • Events
    • Cargo Airport Growth Summit
    • Cargo Facts Symposium
    • Cargo Facts EMEA
    • Cargo Facts Asia
  • Multimedia
  • Podcast
  • Magazine
  • Features
  • Subscribe
  • Log In / Account

© 2021 Royal Media & Air Cargo World

Go to mobile version