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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Expeditors
Expeditors (EXPD) investor relations material
Expeditors Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Q3 revenue rose 42% YoY to $4.108B, operating income rose 55% to $445.4M, and diluted EPS increased 62% to $2.65.
Airfreight tonnage increased 13% and ocean containers shipped increased 7%; Customs, Transcon, Distribution, and Order Management each posted double-digit revenue growth for a third consecutive quarter.
Strong demand, market-share gains, and a robust new-business pipeline supported performance; AI infrastructure investment drove demand across airfreight, road freight, and warehousing.
Financial highlights
Q3 net earnings attributable to shareholders rose 55% YoY to $344.5M; nine-month net earnings increased 38% to $840.3M.
Nine-month revenue increased 27% to $10.393B and operating income rose 36% to $1.090B.
Q3 directly related transportation costs rose 49% to $2.894B; salaries and other operating expenses increased 15% to $768M.
Q3 operating cash flow was $212.6M versus $201.4M; nine-month operating cash flow was $700.4M versus $723.2M, reflecting working-capital changes.
Outlook and guidance
Ocean congestion and supply-chain challenges were expected to persist through the remainder of 2026.
Investments in temperature-controlled facilities, critical logistics services, AI, and other technology aim to support productivity and long-term net operating margins; high-return investments and new-business opportunities remain priorities.
2026 capital expenditures were estimated at ~$60M; cash and operating cash flows were expected to cover liquidity needs for at least 12 months and the foreseeable future.
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Latest events from Expeditors
- CAPE refunds advance as tariff litigation, policy changes and enforcement reshape customs.EXPD
Status update - Q4 results weakened amid freight-market uncertainty as cost cuts and shareholder returns continued.EXPDQ4 2023
- Q4 2025 earnings fell on lower ocean margins, but airfreight and tech investments drove growth.EXPDQ4 2025
- FCA, precise contracts and insurance planning are central to managing Incoterm risk.EXPDStatus update
- BIS Affiliates Rule expands export controls to affiliates, requiring ownership-based screening.EXPDStatus update
- Persistent backlogs and aging fleets drive urgent need for resilient, proactive supply chains.EXPDStatus update
- EEI compliance and denied party screening are critical for export risk management and regulatory adherence.EXPDStatus update
- Section 338 and enforcement shifts demand urgent compliance, supply chain mapping, and regulatory engagement.EXPDStatus update
- New Canadian counter-tariffs on U.S. goods take effect September 8, with surtaxes up to 50%.EXPDStatus update
Next Expeditors earnings date
Investor Day 202618 Nov, 2026
Expeditors
Next Expeditors earnings date
Investor Day 202618 Nov, 2026
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Frequently asked questions
International Expeditors
Expeditors International of Washington (oftentimes referred to simply as Expeditors International) is an American global logistics and freight forwarding company. It provides comprehensive logistics solutions, including air and ocean freight forwarding, customs brokerage, warehousing, and distribution. Expeditors operates a network of over 300 locations across six continents, and its client base spans a wide array of industries. It is headquartered in Seattle, Washington, and its shares are listed on the Nasdaq.
From a Single Office to Worldwide Operations
Expeditors was founded in Seattle, Washington, and initially operated as a single-office ocean freight forwarder. In 1981, a couple of logistics professionals set out to lay the groundwork for the company’s growth and development. Expeditors started with a focus on air freight, and during the 1980s the company experienced rapid growth and went public in 1984. Post-IPO, Expeditors started expanding globally, opening offices in Europe, the Middle East, Asia, and Africa, and today it operates a robust global network of logistics services. Some other logistics companies with similar operations listed on public exchanges are C.H. Robinson, XPO, and Old Dominion Freight Line.
The Logistics Services
Air Freight: Expeditors offers a number of air freight services, providing expedited and consolidated air shipping. The company handles everything from time-sensitive shipments to cost-effective solutions for less urgent cargo.
Ocean Freight: The company manages full container load (FCL) and less-than-container load (LCL) shipments. It works with a vast network of carriers, ensuring flexible and reliable ocean transport options.
Customs Brokerage: A crucial part of its services is facilitating the customs clearance process. Expeditors' expertise in local regulations and international trade laws helps clients navigate complex customs procedures, reducing potential delays and compliance risks.
Multimodal Transport: The company also offers multimodal transport solutions, combining air, ocean, rail, and road transport to optimize cost and transit time.
Supply Chain Services
Expeditors International's supply chain solutions are designed to meet the complex needs of global logistics management. These services encompass a wide range of functions including inventory management, order fulfillment, and the development of customized logistics strategies. This includes tools for tracking inventory levels, managing transportation, and coordinating warehousing operations.