If you sift through Expeditors’ mesmerising unaudited financials for Q1 21, two factors immediately catch your eye given the latest M&A events in logistics.

Neither indicates that M&A-hungry DSV Panalpina (DSV PAN) went for the wrong target, Agility GIL, although the two firms, respectively from Seattle (EXPD) and Sulaibiya (AGY GIL), belong to two different leagues entirely.


The 77% growth rate year-on-year was helped by “relatively soft first quarter a year ago”, as CFO Brad Powell argued in his prepared remarks, which is ...

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