Expeditors International sees strong Q2 results

The global logistics and freight forwarding company reported net earnings attributable to common stockholders increased 29 percent year-over-year in the second quarter to $117.8 million.    Expeditors International’s net earnings attributable to shareholders for the second quarter of 2015 stood at $117.8 million, a 29 percent year-over-year increase, according to the global logistics and freight forwarding company’s most recent unaudited financial statements.
   Diluted net earnings attributable to shareholders increased to $0.61 per share, an increase of 33 percent from last year’s second quarter.
   Net revenues increased 14 percent year-over-year to $552.1 million.
   The company is on track with its internal targets, Expeditors International President and CEO Jeffrey S. Musser said in a statement. “As an example, this quarter represents the fourth consecutive quarter where we have achieved our target of double digit growth in operating income and EPS,” said Musser.
   In addition, airfreight tonnage volumes and ocean container volumes increased 9 percent and 5 percent year-over-year, respectively.
   “We believe the unquantifiable benefit to airfreight volumes attributable to the West Coast labor dispute carried over to the early part of the second quarter as port operations improved,” Expeditors International CFO Bradley S. Powell said of the increase.
   Expeditors International is based out of Seattle, Wash., with regional headquarters in London, Dubai, Shanghai and Singapore and a network that encompasses over 250 locations worldwide.