Stock Story -
Logistics and freight forwarding company Expeditors (NYSE:EXPD) will be announcing earnings results tomorrow morning. Here's what to expect.
Expeditors met analysts' revenue expectations last quarter, reporting revenues of $2.21 billion, down 14.9% year on year. It was a mixed quarter for the company, with a miss of analysts' EPS estimates.
Is Expeditors a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Expeditors's revenue to grow 2% year on year to $2.28 billion, a reversal from the 51.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.26 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Expeditors's peers in the air freight and logistics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. C.H. Robinson Worldwide delivered year-on-year revenue growth of 1.4%, meeting analysts' expectations, and FedEx (NYSE:FDX) reported flat revenue, in line with consensus estimates. C.H. Robinson Worldwide traded up 14.8% following the results while FedEx was also up 15.5%.
Read the full analysis of C.H. Robinson Worldwide's and FedEx's results on StockStory.
There has been positive sentiment among investors in the air freight and logistics segment, with share prices up 2.8% on average over the last month. Expeditors is up 2.7% during the same time and is heading into earnings with an average analyst price target of $114.9 (compared to the current share price of $123.13).
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