Expeditors International of Washington Inc. said its fourth-quarter normalized net income amounted to 61 cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.
EPS decreased year over year from 61 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $110.1 million, a decline from $114.6 million in the year-earlier period.
The normalized profit margin dropped to 6.7% from 7.2% in the year-earlier period.
Total revenue increased on an annual basis to $1.64 billion from $1.60 billion, and total operating expenses grew on an annual basis to $1.47 billion from $1.42 billion.
Reported net income declined from the prior-year period to $111.0 million, or 61 cents per share, from $113.8 million, or 61 cents per share.
For the year, the company's normalized net income totaled $2.34 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.35.
EPS declined from $2.41 in the prior year.
Normalized net income was $427.6 million, a fall from $458.2 million in the prior year.
Full-year total revenue declined year over year to $6.10 billion from $6.62 billion, and total operating expenses fell year over year to $5.43 billion from $5.90 billion.
The company said reported net income decreased on an annual basis to $431.2 million, or $2.36 per share, in the full year, from $456.5 million, or $2.40 per share.
