Expeditors International of Washington Inc. said its first-quarter normalized net income amounted to 51 cents per share, compared with the S&P Capital IQ consensus estimate of 56 cents per share.
EPS decreased year over year from 53 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $92.9 million, a decline from $96.7 million in the year-earlier period.
The normalized profit margin dropped to 6.0% from 6.8% in the year-earlier period.
Total revenue rose 8.9% on an annual basis to $1.55 billion from $1.42 billion, and total operating expenses climbed 10.5% from the prior-year period to $1.40 billion from $1.27 billion.
Reported net income fell year over year to $92.9 million, or 51 cents per share, from $97.0 million, or 53 cents per share.