Skip to main content

Originally published Thursday, May 2, 2013 at 6:00 PM

  • Share:
  • Comments (0)
  • Print

Expeditors International sees gain in 1Q profit

The Associated Press

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >


Freight-forwarding provider Expeditors International said Thursday that first-quarter profit rose 5 percent as airfreight volume increased.

Revenue, however, was flat with a year ago and lower than expected.

The Seattle company said prices remained “somewhat volatile,” but it was pleased with the second straight quarter of airfreight tonnage improvement.

“There is a certain stability in these quarterly results that may not be as apparent on the surface as they were reassuring to us here,” Chairman and CEO Peter J. Rose said.

Rose said he felt better about the state of the company than he did at this time in 2012.

Net income was $80.3 million, or 39 cents a share, compared with $76.7 million, or 36 cents a share, a year earlier.

Revenue was about the same as a year ago, at $1.41 billion.

Analysts expected the company to earn 39 cents a share on revenue of $1.47 billion, according to a FactSet survey.

Expeditors on Thursday also declared a semiannual dividend of 30 cents per share.The dividend, 2 cents higher than the dividend announced last November, will be payable on June 17 to shareholders as of June 3.

News where, when and how you want it

Email Icon

 Subscribe today!

Subscribe today!

99¢ for four weeks of unlimited digital access.



The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited content access is included with most subscriptions.

Subscriber login ►