Expeditors International of Washington, Inc. reported third-quarter net earnings attributable to shareholders of $344.5 million, up 55% from a year earlier, as revenue climbed 42% year over year to $4.11 billion.
In a Nov. 3 filing with the U.S. Securities and Exchange Commission, the company reported diluted earnings per share of $2.65, up 62%, and operating income of $445.4 million, a 55% gain. Expeditors handled 13% more airfreight tonnage year over year. Ocean volume rose 7% year over year in Q3 after being flat in Q2.
Expeditors cited hyperscaler demand and shipments by Tier 1 and Tier 2 suppliers supporting AI infrastructure as significant drivers of air-volume growth. CEO Daniel R. Wall said hyperscaler demand was outpacing the broader market. The company also pointed to limited fleet growth and late aircraft deliveries as constraints on air capacity.
Ocean operations faced disruption at major Asian ports and transfer hubs after three back-to-back typhoons. Management expects congestion and related supply-chain problems to continue into year-end 2026. Expeditors said it had dealt with significant disruptions before.
Chief Financial Officer David A. Hackett said a lower tax rate and reduced share count joined higher operating income in lifting diluted EPS. Expeditors spent $197 million on share repurchases in Q3; across the first nine months of 2026, dividends and buybacks amounted to $946 million. Expeditors said its customs, Transcon, distribution and order management units all delivered double-digit revenue gains for the third quarter running. Expeditors will hold an Investor Day in New York City on Nov. 18. Investors may submit written questions by Nov. 6 for possible management responses on Form 8-K.
