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On Tuesday, BofA Securities analyst Ken Hoexter adjusted the price target for Expeditors International (NYSE:EXPD) shares, reducing it to $117.00 from the previous $124.00 while maintaining a Neutral rating for the stock. This change follows the company’s first quarter earnings report for 2025, which revealed a 26% year-over-year increase in earnings per share (EPS) to $1.47. This figure surpassed both BofA’s forecast of $1.23 and the consensus estimate of $1.37. According to InvestingPro data, five analysts have recently revised their earnings estimates upward for the upcoming period, with price targets ranging from $86 to $129.
Expeditors International, a leading global logistics and freight forwarding company with a market capitalization of $14.63 billion, experienced a notable performance in its Ocean Forwarding segment. Ocean volumes grew by 8% year-over-year, exceeding BofA’s expectation of a 7% increase, with monthly gains in the first quarter ranging from 5% to 10%. Additionally, Ocean yields, measured as Gross Revenue per Forty-foot Equivalent Unit (FEU), surged by 27%, significantly outpacing the forecasted 6% rise. The company’s strong performance has contributed to its impressive revenue growth of 14% over the last twelve months, though InvestingPro analysis suggests the stock is currently trading slightly below its Fair Value.
The newly appointed CEO, Dan Wall, who succeeded Jeff Musser following his retirement on March 31, highlighted that the Ocean business benefitted from both volume increases due to customers pulling forward shipments and extended transit times caused by conflicts in the Red Sea. Despite these positive trends, the company signaled caution regarding the Ocean segment’s future, citing a substantial decline in China to US volumes beginning after March 31. The potential for further tariffs has raised concerns that customers might reduce or even cancel shipments, prompting BofA to lower its second-quarter Ocean volume growth projection to 1% from the previously expected 8%. InvestingPro data shows the company maintains strong financial health with a GOOD overall score, supported by robust liquidity ratios and more cash than debt on its balance sheet.
In the Air Freight Forwarding division, results also exceeded expectations, with airfreight kilos up 9% year-over-year against the anticipated 3% increase. The growth in this segment was particularly strong in March, with a 15% rise in volumes. Air freight yields also saw a 9% increase, surpassing the 7% target. Wall noted that the higher volumes and rates were driven by shippers advancing their freight movements, especially in the technology sector, in anticipation of higher tariffs. However, the company is preparing for continued volatility in air capacity and rates, particularly due to the expiration of the de-minimis exemption, which could significantly impact the airfreight market. For deeper insights into Expeditors International’s performance and future prospects, including 12 additional ProTips and comprehensive valuation metrics, visit InvestingPro to access the full Pro Research Report.
In other recent news, Expeditors International of Washington, Inc. reported impressive fourth-quarter earnings, with revenue exceeding analyst expectations by 11% and earnings per share (EPS) reaching $1.68, a 54% increase year-over-year. This performance surpassed both Benchmark’s estimate of $1.35 and FactSet’s consensus of $1.43, highlighting the company’s effective cost control measures. Following these results, TD Cowen raised its price target for Expeditors International to $117, although the firm maintained a Sell rating due to ongoing market uncertainties. Similarly, Stifel increased its price target to $118.12 while keeping a Hold rating, citing Expeditors’ ability to navigate geopolitical challenges. In leadership changes, Expeditors announced the appointment of Robert A. Martinez as President - Global Products, effective June 1, 2025, and Kelly K. Blacker as President - Global Geographies, effective April 1, 2025. Both appointments reflect the company’s strategy to strengthen its leadership team amid complex global logistics dynamics. These developments come as Expeditors continues to adapt to market conditions with no debt on its balance sheet, positioning itself for potential future upturns.
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