Comment / Expeditors – where history rhymes

ID 19093968 © Angelo Gilardelli | Dreamstime.com

Rewind to the pre/early-Covid waves.

The sad days of Q1 20: Expeditors reported $1.9bn in quarterly sales and Ebit of $159m.

Back then, air freight sales were little changed against Q1 19, while ocean freight was under a bit of pressure just like customs house brokerage (CHB) operations.

For the quarter, it recorded only a -5% drop in group revenues, but Q1 19 and Q1 20 were indeed pretty similar, with diluted earnings per share (EPS) respectively at $0.8 and $0.71 – $0.09 ...