Expeditors International of Washington Inc 1Q 2026: Revenue $2.783B, EPS $1.71— 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Expeditors International of Washington Inc reported Q1 2026 results with revenue of $2.783B and diluted EPS of $1.71, reflecting a 4% year-over-year growth. Net income rose 13% to $229.6M. Growth was driven by a 14% increase in air services and 17% in customs, despite a 23% decline in ocean volumes. The company maintained its non-asset model and global presence while adapting to market changes, including increased demand from technology customers and evolving tariffs.
Expeditors International of Washington Inc reported first-quarter 2026 results with revenue of $2.783B and diluted EPS of $1.71, reflecting year-over-year growth driven by strength in air and customs services despite a drop in ocean volumes.
Financial Highlights
- Revenue was $2.783B for Q1 2026, up from $2.666B in Q1 2025; YoY change 4%.
- Net income was $229.6M attributable to shareholders for Q1 2026, up from $203.8M in Q1 2025; YoY change 13%.
- Diluted EPS was $1.71 for Q1 2026, up from $1.47 in Q1 2025; YoY change 16%.
Business Highlights
- Revenue growth of 4% was driven by a 14% increase in air and 17% growth in customs, which offset a 23% decline in ocean volumes.
- The company saw a channel shift from ocean to air and customs services as ocean sell/buy rates fell and technology-driven air demand increased.
- Strong demand from technology customers, including AI infrastructure, boosted air, road freight and warehousing volumes.
- Expeditors maintained its non-asset model and global footprint across 60+ countries while rerouting shipments around Middle East disruptions.
- Customs brokerage volumes and fees rose due to evolving tariffs, regulatory complexity and increased post-entry activity.
Original SEC Filing: EXPEDITORS INTERNATIONAL OF WASHINGTON INC [ EXPD ] - 10-Q - May. 06, 2026