Expeditors International’s Earnings

Here’s a nice break from Dell’s news. Expeditors (EXPD) had another great quarter. This is one of those companies that always seems to come through. The company earned 50 cents a share for the third quarter versus 39 cents last year. Expectations were for 46 cents a share.
For the first three quarters, EXPD has made $1.24 a share compared with $1.02 last year. They just grow and grow and grow. Here’s CEO Peter Rose on the third quarter:

“Execution and efficiency were the tale of this record quarter,” said Peter J. Rose, Chairman and Chief Executive Officer. “While we continued to experience significant volume increases in air and ocean freight during the third quarter of 2005, our real profitability increases came from our ongoing efforts to increase productivity in the delivery of our services,” Rose continued.
“This has not been a one year story. If you go back to the third quarter of 2001, you would see that Expeditors has basically doubled in size in the last four years. That is a real accomplishment, particularly when you look at the magnitude of the numbers. And, we didn’t really purchase this growth–we did it ourselves, organically. A stable environment fosters consistent, reliable and focused customer service by eliminating the distractions that employees in merged companies feel. As always, we’d like to formally acknowledge the contribution of each employee to these third quarter results. Once again, you really made it happen,” Rose concluded.

This is the only stock on Wall Street whose 8-K reports are actually fun to read. For more, here’s a good article on Rose and EXPD.

Posted by on November 1st, 2005 at 10:18 am


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