Skip to content
Home » Blog » Expeditors' First-Quarter Profit Declines

Expeditors' First-Quarter Profit Declines


5/3/2012 9:15:00 AM
Write a Letter to the Editor



Print This
 

Logistics firm Expeditors International of Washington said its first-quarter profit declined from a year ago as air freight volumes fell.

Net income decreased to $76.7 million, or 36 cents a share, from $91.2 million, or 42 cents, a year ago.

Revenue slipped 3% from a year ago to $1.41 billion, the company said in a statement late Wednesday.

Year-over-year air freight volume declined 9%, while ocean freight volume gained 1%.

“Our largest customers are being very cautious about the amount of airfreight they are using this year,� CEO Peter Rose said in a statement.

The quarter included a $5.5 million fine levied by the European Commission in March in connection with air freight price-fixing charges, which Expeditors denied.

“As we said then, we did not enter into any agreement that affected customer pricing in any way,� Rose said.

Seattle-based Expeditors International of Washington is ranked No. 12 on the Transport Topics Logistics 50 listing of North American logistics companies.

Follow Transport Topics on RSS Twitter Facebook


 Print This
 


© 2012, Transport Topics Publishing Group. All rights reserved.

 

 

RELATED ARTICLES

Con-way’s First-Quarter Profit Rises (5/2/2012 1:00:00 PM)
Frozen Food Express’ 1Q Loss Narrows (5/2/2012 9:00:00 AM)
Opinion: Just Who Is Qualifying Whom? (4/30/2012 8:00:00 AM)
Rethinking Foreign Costs Spurs Manufacturing in U.S. (4/30/2012 4:30:00 AM)
TransForce Earnings, Revenue Improve (4/27/2012 12:00:00 PM)
Echo Global Logistics’ 1Q Income Rises (4/27/2012 8:00:00 AM)