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Expeditors International of Washington Q2 profit climbs 27.4% YOY

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Expeditors International of Washington Q2 profit climbs 27.4% YOY

Expeditors International of Washington Inc. said its normalized net income for the second quarter amounted to 61 cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS rose 30.9% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $117.7 million, an increase of 27.4% from $92.3 million in the year-earlier period.

The normalized profit margin rose to 7.0% from 5.8% in the year-earlier period.

Total revenue rose 5.8% on an annual basis to $1.69 billion from $1.60 billion, and total operating expenses grew on an annual basis to $1.51 billion from $1.46 billion.

Reported net income rose 29.1% on an annual basis to $117.1 million, or 61 cents per share, from $90.7 million, or 46 cents per share.