US-based Expeditors, considered a bellwether for forwarders in terms of financial performance, performed “relatively well” in a first quarter that saw volumes decline across all its business lines.
The company last night reported a 6% year-on-year decline in first-quarter revenue to a shade over $1.9bn, while operating income – the company does not report ebitda – dropped 15%, year on year, to $159m.
But president and chief executive Jeffrey Musser remained bullish, amid the decreases and the continuing economic uncertainty.
“Our first-quarter performance ...
Comment on this article
Matt
May 06, 2020 at 2:35 pmOnce again, Expeditors shows its class by protecting its workforce whilst others take advantage of Furlough schemes or make redundancies. History shows that Expeditors take care of their workforce which helps them to continue to deliver a first class service to its customers. Onwards and upwards!!
Vincent
May 07, 2020 at 3:38 pmPretty impressive (again) from Expeditors… When it comes to forwarding they are best-in-class and should be the blue print for many freight forwarders.
Srinikesh
May 22, 2020 at 10:23 amCommitment to customer service in these difficult times will always be remembered by customers and support given by the management to its employees will always have the commitment by each employee to go an extra mile for its customers
Steve Roger
May 27, 2020 at 9:55 pmExpeditors has always been strong in this regard.
The real thing that concerns me as a stockholder in this company is their reluctance to move with the flow of the modern workforce. Meaning, will Expeditors do the smart thing after this downturn and continue to let a certain set of their support staff work remotely? Will they follow suit on four day work weeks? Etc.
This company claims to look to the welfare of their employees first, but they historically have not. I would like to see these truths of the modern and future workforce become a part of the Expeditors business model. I love the way they work but more awareness of their “greatest asset” would only serve to make this company more productive and efficient, thereby more profitable (which serves all shareholders).
The ball is in your court Mr. Musser, we would all love to see you make the correct choice for the future of this company.
Jenifer Del Busto
May 28, 2020 at 3:53 amThe commitment that Expeditors shows to its customers and employees is a true portrayal of our culture. Proud to work for the best and continue to do the best for our customers day in and day out!
Steve
May 28, 2020 at 12:21 pmExpeditors has always been strong in this regard.
The real thing that concerns me as a stockholder in this company is their reluctance to move with the flow of the modern workforce. Meaning, will Expeditors do the smart thing after this downturn and continue to let a certain set of their support staff work remotely? Will they follow suit on four day work weeks? Etc.
This company claims to look to the welfare of their employees first, but they historically have not. I would like to see these truths of the modern and future workforce become a part of the Expeditors business model. I love the way they work but more awareness of their “greatest asset” would only serve to make this company more productive and efficient, thereby more profitable (which serves all shareholders).
The ball is in your court Mr. Musser, we would all love to see you make the correct choice for the future of this company.