Expeditors (EXPD) Posts A 51% Earnings Jump, But Some Of It Won’t Last
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On August 4, Expeditors International of Washington (NYSE: EXPD ) reported second-quarter 2026 results that blew past the prior year's numbers across nearly every line. Diluted earnings per share jumped 51% to $2.03, net earnings rose 45% to $266 million, and revenue climbed 32% to $3.5 billion. For a logistics company, that kind of across-the-board acceleration usually means either a freak market event or a business firing on every cylinder at once. This quarter looks like a mix of both. The headline numbers tell only part of the story. Customs brokerage, Transcon, Distribution, and Order Management each posted double-digit revenue growth for a second consecutive quarter, a sign the strength isn't confined to one segment. Airfreight tonnage rose 14% year over year and 16% compared to the first quarter of 2026, with demand from AI hyperscalers requiring freighter and upper-deck capacity for their servers, plus e-commerce out of North Asia climbing back toward levels seen before the US government restricted de minimis entries in the second quarter of 2025. Ocean freight showed its own turn, with volumes up 7% versus the first quarter of 2026, the first sequential increase since the third quarter of 2025, and per-container profitability improving as carriers managed capacity carefully into a period of rising demand. On the capital side, Expeditors returned $461 million to...
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