Expeditors International

Expeditors faced its toughest quarter as Q4 2025 revenue fell 3% to $2.9 billion and operating income dropped 17% to $251 million, driven by a sharp 41% decline in average revenue-per-container as ocean overcapacity pressured pricing. EPS fell 11% to $1.49 with significant margin compression across both air and ocean segments. Management highlighted progress in portfolio diversification, with customs, Transcon, warehousing, and order management businesses all growing, and the board approved a new $3 billion share repurchase program. Looking ahead, ocean rates may remain soft in 2026 as capacity continues to outstrip demand.