News / Expeditors 'a takeover target' as results and revenue prospects disappoint

Senior executives from Expeditors, North America’s largest freight forwarder, put on a brave face yesterday, releasing second-quarter and first-half results revealing revenue and profit on the decline.

Total revenues for group operations – air and sea freight forwarding and customs brokerage services – fell year-on-year in Q2 by 13% to $1.47bn, while net profit was down 1% to $116m.

The declines came despite a 2% growth in air freight tonnage. Ocean freight volumes declines by 1%.

However, there was a slight fillip towards the end of the quarter, in terms of volumes: ...