Q4 2025 Quarterly Earnings Release

Expeditors International

Not a standard earnings call · Earnings release only

Expeditors International publishes quarterly earnings releases as SEC 8-K filings instead of holding traditional earnings calls with analyst Q&A. Tellvest's coverage comes from these EX-99.1 exhibits containing CEO and CFO commentary.

EX99.1

expd-ex99_1.htm

EX99.1

Exhibit 99.1

EARNINGS RELEASE

Expeditors International of Washington, Inc.

3545 Factoria Blvd. SE

Sterling Plaza 2, 3rd Floor

Bellevue, Washington 98006

CONTACTS

Daniel R. Wall

David A. Hackett

Geoffrey Buscher

President and Chief Executive Officer

Senior Vice President and Chief Financial Officer

DirectorInvestor Relations

(206) 674-3455

(206) 288-8794

(206) 892-4510

FOR IMMEDIATE RELEASE

EXPEDITORS REPORTS FOURTH QUARTER 2025 EPS OF $1.49

BELLEVUE, WASHINGTON - February 24, 2026, Expeditors International of Washington, Inc. (NYSE: EXPD) today announced fourth quarter 2025 financial results, including the following comparisons to the same quarter of 2024:

- Diluted Net Earnings Attributable to Shareholders per share (EPS1) decreased 11% to $1.49

- Net Earnings Attributable to Shareholders decreased 15% to $201 million

- Operating Income decreased 17% to $251 million

- Revenues decreased 3% to $2.9 billion

- Airfreight tonnage increased 6% and ocean container volume decreased 6%

- Returned $150 million and $875 million to shareholders in dividends and share repurchases during the fourth quarter and full year of 2025, respectively

- Our Board of Directors approved a new $3 billion share repurchase program

Daniel R. Wall, President and Chief Executive Officer, commented:

"While we knew comparisons to 2024 were going to be tough given the current ocean environment, I am quite pleased with the increased business we are taking on, including customs, Transcon, warehousing & distribution, and order management. This shows that our strategy to diversify the breadth of our portfolio is making a difference. We are focused on growing in every region, product, and customer segment to achieve a healthy balance of revenue, which ultimately creates unlimited opportunities for our employees. In 2026, we will continue to focus on growth diversification, pricing optimization, and further alignment of our cost structure with current market conditions. Finally, we will also make strategic investments in high-return opportunities, such as artificial intelligence (AI) and other customer vertical solutions where we see the most growth potential."

Comparing Q4 2025 to Q4 2024

Airfreight services

"Air freight gross margins declined modestly on lower per-kilo profitability despite an increase in tonnage. That increase, both year-over-year and compared to Q3 2025, was driven by export volumes from North and South Asia, primarily by customers continuing to invest in technology. During the quarter, a surge in e‑commerce and tech demand pushed buy rates higher, further pressuring margins."

Ocean freight and ocean services

"Ocean sell rates began declining in the latter part of 2024 and fell more sharply in the third and fourth quarters of 2025, particularly out of North and South Asia. Average revenue-per-container fell 41% compared to the fourth quarter of 2024, and fell 17% compared to the third quarter of 2025, as capacity continued to increase and lower volumes added further pressure. These impacts were partially offset by higher order management volumes from customers seeking greater control over their supply chains, as well as increased demand for freight forwarding and ancillary ocean services. Ocean rates may remain soft in 2026, as capacity is likely to

1Diluted earnings attributable to shareholders per share.

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