Expeditors International reported a 14% year-on-year increase in airfreight volume for the second quarter, helping drive a 32% rise in revenue to $3.5 billion. Operating income climbed 41% to $349.6 million, and net earnings per share reached $2.03, up from $1.34 a year earlier. CEO Daniel Wall attributed the strong air performance to highly elevated buy and sell rates, constrained belly capacity from Middle East conflict disruptions, and robust demand from hyperscalers requiring freighter space for servers. Ocean freight volume was flat overall, with a weak start followed by a 9% June surge, while customs forwarding benefited from tariff-related complexity. Expeditors shares were up about 2.8% in morning trading Tuesday, extending a 49.9% gain over the past 52 weeks.
Expeditors International of Washington, Inc.Airfreight volume up 14% on robust hyperscaler demand and constrained belly capacity, driving revenue and earnings growth.