$EXPD · EXPEDITORS INTERNATIONAL OF WASHINGTON INC
Expeditors filed its Q3 FY2026 10-Q. Revenue rose 42% YoY to $4.108B, operating income rose 55% to $445.4M, and diluted EPS rose 62% to $2.65. Airfreight revenue grew 51% to $1.54B on AI-infrastructure demand; ocean containers returned to 7% growth. The company repurchased $197M of stock in the quarter.
- Revenue +42% YoY to $4.108B; operating income +55% to $445.4M.
- Diluted EPS $2.65, up 62% from $1.64 a year ago.
- Airfreight revenue +51% to $1.54B on AI-infrastructure demand.
- Ocean containers shipped +7%, primarily in Asia.
- Returned $197M to shareholders via buybacks in Q3.
Stock fell 4.97% to $194.15 despite strong results, up 0.32% from filing time. The decline suggests the AI-driven surge was already priced in or margin concerns weighed.
A 42% revenue surge and 62% EPS growth on AI-infrastructure logistics demand is a standout quarter for a large-cap freight forwarder.
Expeditors' AI-infrastructure airfreight strength mirrors broader logistics peers benefiting from hyperscaler and data-center buildouts.
Tariff actions and trade restrictions could reduce global trade volumes; airfreight expense growth (53%) outpaced revenue growth (51%), pressuring margins.