Expeditors Q3 2026: revenue up 42.0%, EPS $2.65 tops consensus
Expeditors beat the street by a wide margin: diluted EPS of $2.65 against a $2.27 consensus, on revenue of $4.11 billion, up 42.0%. The beat came from volume and pricing rather than cost cuts, with headcount up only 1%. Read the quarter as a demand story with real operating leverage, then check the working capital and rate assumptions underneath it.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $2.65 beat the $2.27 consensus by 16.5% and rose 61.6% year over year. Operating income of $445.4 million was up 55.0%, and a lower tax rate (23.1% versus 25.2%) plus a smaller diluted share count (130.1 million versus 135.3 million) added to the per-share gain. Net income was $344.5 million, or 8.4% of revenue.
Revenue of $4.11 billion rose 42.0% from $2.89 billion a year ago, a pace no logistics company would call normal. Airfreight was the fastest-growing line at $1.54 billion, up 51.4%, while ocean added 47.8% to $1.10 billion and customs grew 29.4% to $1.46 billion. Management tied the air volume to hyperscaler and AI-infrastructure shipments, not only to disruption-driven rate spikes.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-04
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