Expeditors revenue jumps 42% as ocean volumes grow

Expeditors International reported strong third-quarter results, supported by higher ocean and airfreight volumes and continued demand for customs and logistics services.

Revenue increased by 42% year on year to US$4.1 billion. Operating income rose by 55% to US$445 million, while net earnings attributable to shareholders climbed by 55% to US$345 million.

Diluted earnings per share reached US$2.65, representing an increase of 62% from the third quarter of 2025.

Expeditors returned US$197 million to shareholders through share repurchases during the quarter. Dividends and repurchases totalled US$946 million during the first nine months of 2026.

Ocean container volumes rise 7%

Ocean container volumes increased by 7% year on year during the quarter. The company recorded particularly strong growth in September and across Asian export markets.

Expeditors said container demand remained healthy despite congestion at major Asian ports and transshipment hubs. Three consecutive typhoons disrupted port operations, idled capacity and affected vessel schedules.

The logistics company used its carrier relationships to secure capacity and maintain services during the disruptions. It expects port congestion and wider supply chain challenges to continue through the remainder of 2026.

Airfreight tonnage increased by 13%, reaching a quarterly record. Growth was led by South Asian exports and demand from hyperscalers and suppliers supporting artificial intelligence infrastructure.

Air cargo capacity remained constrained by limited fleet growth and delays in new aircraft deliveries. Expeditors said demand continued to outpace available capacity, keeping freight rates elevated.

Customs and logistics services expand

Customs brokerage, Transcon road freight, distribution and order management each achieved double-digit revenue growth for a third consecutive quarter.

The company attributed the improvement to new customer wins, higher customs declaration volumes and demand from technology companies.

“We continue to gain share, particularly in markets that we have made a strategic focus,” said Daniel Wall, President and Chief Executive Officer of Expeditors.

Wall added that the company’s focus on expanding its customer base and diversifying revenue was supporting more durable performance across different operating conditions.

Chief Financial Officer David Hackett said revenue grew by 42% while headcount increased by only 1%. Expeditors’ operating efficiency reached 36.7%, above its historical target of 30%.

The company continues to invest in temperature-controlled facilities, critical logistics services, artificial intelligence and other technology solutions.

Expeditors will hold an Investor Day for shareholders and analysts in New York on 18 November 2026.

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