Exhibit 99.1 EARNINGS RELEASE
Expeditors By: International of Washington, Inc. 3545 Factoria Blvd. SESterling Plaza 2, 3rd Floor Bellevue, Washington 98006 CONTACTS: Daniel R. Wall David A. Hackett Geoffrey Buscher President and Chief Senior Vice President Director - Investor Executive Officer and Chief Financial Relations Officer (206) 674-3455 (206) 674-3400 (206) 892-4510
FOR IMMEDIATE RELEASE EXPEDITORS REPORTS THIRD QUARTER 2026 EPS OF $2.65 BELLEVUE, WASHINGTON - November 3, 2026, Expeditors International of Washington, Inc. (NYSE:EXPD) today announced third quarter 2026 financial results including the following comparisons to the same quarter of 2025: • Diluted Net Earnings Attributable to Shareholders per share (EPS) increased 62% to $2.65 • Net Earnings Attributable to Shareholders increased 55% to $345 million • Operating Income increased 55% to $445 million • Revenues increased 42% to $4.1 billion • Airfreight tonnage increased 13% and ocean container volume increased 7% • Customs, Transcon, Distribution, and Order Management each achieved double-digit revenue growth for a third consecutive quarter • Cash returned to shareholders in the form of share repurchases and dividends was $197 million and $946 million for the third quarter and year-to-date period of 2026, respectively Daniel R. Wall, President and Chief Executive Officer, commented: “We continue to gain share, particularly in markets that we have made a strategic focus. By continuing to streamline our processes and prioritize companywide growth across every region, product, and district, we once again generated double-digit growth across most of our businesses. While we have thrived during periods of significant disruption throughout our history, the strength of demand for our products and services is what really drove Q3 performance. Demand from certain customers, such as the hyperscalers, has been outpacing the market overall, but we have been very deliberate to expand our customer base across our global network and further diversify our revenues. I sincerely thank our global operations, transition & implementation, sales, and account management teams for their continued focus and dedication to our customers. Through those efforts, we are now charting a course for durable performance no matter what the operating environment.” Q3 2026 Operational Highlights Airfreight services : “Airfreight demand remained strong during the quarter, with record global air tonnage increasing approximately 13% year-over-year, driven primarily by continued growth in South Asia, where export tonnage increased most notably. Hyperscaler demand, which also includes shipments from Tier 1 and Tier 2 suppliers supporting AI infrastructure, was a significant driver of volume growth, while air capacity remains constrained by limited fleet expansion and ongoing new aircraft delivery delays. Capacity was also impacted by aircraft redeployments that affected Asia-Europe e-commerce, stemming from European Union regulations meant to curb the flow of de minimis imports. At the same time, China-U.S. e-commerce tonnage has nearly recovered to what it was prior to the U.S. termination of de minimis shipments in May 2025. Adding geopolitical events to this mix, airfreight rates remained elevated during the quarter, with demand outpacing available capacity.” NOTE: See Disclaimer on Forward-Looking Statements in this release. Ocean freight and ocean services: “After the flattening we saw in Q2’26, ocean volumes increased 7% year-over-year in Q3, with particularly strong comparative growth in September and across Asia export markets. Significant congestion at major Asian ports and transshipment hubs impacted the ocean markets, as capacity was idled and port operations were halted as a result of three back-to-back typhoons. Nevertheless, demand was consistently healthy and we were able to lean into our longstanding carrier relationships to secure the capacity we needed to support both existing and new customers amidst these service disruptions. The strength of our global network and world class operating teams enabled us to maintain service continuity and respond effectively as conditions deteriorated. We expect congestion and supply chain challenges to persist through the remainder of 2026.”
Customs brokerage and other services: “All of the products in our customs brokerage and other services continued to generate double-digit growth during the quarter, supported by strong customer demand across transportation management, distribution, and supply chain solutions. Much of the strength in our customs brokerage business was from tariff-related additional-line fees and post-entry activity that began in Q3 2025. However, growth during the most recent quarter was driven by significant new business wins, higher declaration volumes, and broad-based customs services across all regions, from both new and existing customers. Demand from AI hyperscalers and other high-value technology customers continued to drive growth across a diverse range of geographies and business sectors. Growth during the quarter was particularly strong in our Transcon road freight and warehousing and distribution businesses, with robust demand from large technology customers.”
“We had another exceptional quarter and our pipeline of new business remains strong, showing the durability of our earnings growth. Our revenue grew 42%, while headcount increased only 1% from prior year, demonstrating the scalability of our operating model and driving significant operating leverage. Our operating efficiency increased to 36.7%, well above our historical target of 30%. The growth in operating income of 55% combined with a lower tax rate and a lower share count drove the 62% increase in diluted EPS.
“We have made and are continuing to make investments in temperature-controlled facilities, critical logistics services, and productivity initiatives, including investments in artificial intelligence and other technology solutions. These high-return investments, coupled with our strong operational performance, are driving revenue growth and improvements in productivity as we seek to decouple headcount growth from revenue growth over the long term. We will continue making high-return investments, including additional investments in artificial intelligence and other technology solutions to further increase our net operating margins over the long term.”
Mr. Hackett noted that the Company returned $197 million to shareholders through share repurchases during the quarter and $946 million in dividends and share repurchases for the first nine months of 2026.
2026 Investor Day As previously announced, Expeditors plans to hold an Investor Day for its shareholders and analysts on the morning of Wednesday, November 18, 2026, in New York City. Investor Questions
Investors may submit written questions via email to: investor@expeditors.com. Questions received by the end of business on November 6, 2026 will be considered in management's 8-K “Responses to Selected Questions.” About Expeditors International of Washington, Inc.: Expeditors International of Washington, Inc. (NYSE: EXPD) is a leading S&P 500 global logistics company headquartered in Bellevue, Washington. Through a worldwide network of knowledgeable professionals across six continents and a globally connected technology platform, Expeditors tailors solutions to manage increasingly complex supply chains and international trade requirements. The asset-light company offers air, customs, ocean, order management, road, warehousing and distribution, and cargo insurance services to key industries worldwide. Guided by a culture of exceptional customer service, Expeditors aspires to be the most trusted and valued logistics company in the world. For more information, visit expeditors.com. NOTE: See Disclaimer on Forward-Looking Statements in this release.
Disclaimer on Forward-Looking Statements: Certain statements contained in this news release are “forward-looking statements,” based on management’s views with respect to future events and underlying assumptions that involve risks and uncertainties. These forward- looking statements include statements regarding our ability to take market share; expand our customer base and diversify our revenues; to thrive during period of disruption; to generate durable earnings growth and other operating performance regardless of the operating environment; our ability to increase financial performance by investing in AI and other technology solutions; the resilience of our non-asset-based model; strategies and solutions to keep customer freight moving out of and around impacted areas; our disciplined cost control; a strong pipeline of new business and diverse areas of growth; continued robust demand for all of our products by a diverse set of customers, including hyperscalers; our ability to work closely with our customers and carrier partners to find solutions, secure capacity, and deliver value, while aligning our resources to maximize profitability. Future financial performance could differ materially because of factors such as: congestion and supply chain challenges; geopolitical uncertainty and ongoing conflicts in the Middle East and Ukraine; national policy changes on tariffs and other similar measures; new capacity in the marketplace; changes in ocean transit times; e-commerce demand in the air market; volatile rates; and the price of fuel or fuel shortages. In addition, port actions, other labor disruptions, tariffs, geopolitical tensions, and the current uncertainty in the global economy could have the effect of heightening many of the other risks described in Item 1A of our Annual Report on Form 10-K. These and other factors are discussed in the Company’s regulatory filings with the Securities and Exchange Commission, including those in “Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and the Company’s most recent Form 10-Q. The forward-looking statements contained in this news release speak only as of this date and the Company does not assume any obligation to update them except as required by law. NOTE: See Disclaimer on Forward-Looking Statements in this release. Expeditors International of Washington, Inc. Third Quarter 2026 Earnings Release, November 3, 2026 Financial Summary for three and nine months ended September 30, 2026 and 2025 (Unaudited) (in 000's of US dollars except share data)
1 Directly related cost of transportation and other expenses totals Operating Expenses from Airfreight services, Ocean freight and ocean services and Customs brokerage and other services as shown in the condensed consolidated statements of earnings. 2 Salaries and other operating expenses totals Salaries and related, Rent and occupancy, Depreciation and amortization, Selling and promotion and Other as shown in the condensed consolidated statements of earnings. During the three and nine months ended September 30, 2026, we repurchased 1.1 million and 5.4 million shares of common stock at an average price of $178.36 and $154.87. During the three and nine months ended September 30, 2025, we repurchased 1.8 million and 5.3 million shares of common stock at an average price of $119.65 and $116.10 per share.
Employee Full-time Equivalents as of September 30, 2026 2025 North America 7,738 7,404 Europe 4,231 4,193 North Asia 2,323 2,306 South Asia 2,189 1,996 Middle East, Africa and 1,524 1,478 India Latin America 911 891 Global Technology 1,151 1,483 Corporate 396 419 Total 20,463 20,170
Third quarter year-over-year percentage increase in: 2026 Airfreight Ocean freight kilos FEU July 8% 5% August 13% 5% September 19% 12% Quarter 13% 7%
NOTE: See Disclaimer on Forward-Looking Statements in this release. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In thousands, except per share data) (Unaudited)
September 30, 2026 December 31, 2025 ────────────────────────────────────────────────────────────────────────────── Assets: Current Assets: Cash and cash $ 1,092,464 $ 1,314,285 equivalents Accounts receivable, less allowance for credit loss of 3,086,192 2,021,889 $7,740 at September 30, 2026 and $7,241 at December 31, 2025 Deferred contract 337,095 283,281 costs Other 125,082 136,167 Total current assets 4,640,833 3,755,622 Property and equipment, less accumulated depreciation and 455,607 462,122 amortization of $659,590 at September 30, 2026 and $651,087 at December 31, 2025 Operating lease 555,204 550,162 right-of-use assets Goodwill 7,927 7,927 Deferred income tax 106,733 101,671 asset, net Other assets, net 19,740 16,134 Total assets $ 5,786,044 $ 4,893,638 Liabilities: Current Liabilities: Accounts payable $ 1,741,797 $ 1,123,429 Accrued expenses 622,207 448,055 Contract liabilities 449,710 358,386 Current portion of operating lease 115,553 110,891 liabilities Federal, state and foreign income taxes 49,384 32,046 payable Total current 2,978,651 2,072,807 liabilities Noncurrent portion of operating lease 460,282 459,698 liabilities Deferred income tax 3,376 3,040 liability, net Shareholders’ Equity: Common stock, par value $0.01 per share. Issued and outstanding: 1,296 1,339 129,551 shares at September 30, 2026 and 133,884 shares at December 31, 2025 Additional paid-in — — capital Retained earnings 2,533,724 2,538,455 Accumulated other (193,591 ) (184,161 ) comprehensive loss Total shareholders’ 2,341,429 2,355,633 equity Noncontrolling 2,306 2,460 interest Total equity 2,343,735 2,358,093 Total liabilities and $ 5,786,044 $ 4,893,638 equity
3-November-2026 Expeditors International of Washington, Inc. Page5of 8 EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Earnings (In thousands, except per share data) (Unaudited)
3-November-2026 Expeditors International of Washington, Inc. Page6of 8 EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited)
3-November-2026 Expeditors International of Washington, Inc. Page7of 8 EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Business Segment Information (In thousands) (Unaudited)
1 Directly related cost of transportation and other expenses totals Operating Expenses from Airfreight services, Ocean freight and ocean services and Customs brokerage and other services as shown in the Condensed Consolidated Statements of Earnings. 2 Other operating expenses totals rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the consolidated statements of earnings. 3-November-2026 Expeditors International of Washington, Inc. Page8of 8
Full text with the tables
Exhibit 99.1 EARNINGS RELEASE
Expeditors
By: International of
Washington, Inc.
3545 Factoria Blvd.
SESterling Plaza 2,
3rd Floor
Bellevue, Washington
98006
CONTACTS:
Daniel R. Wall David A. Hackett Geoffrey Buscher
President and Chief Senior Vice President Director - Investor
Executive Officer and Chief Financial Relations
Officer
(206) 674-3455 (206) 674-3400 (206) 892-4510
FOR IMMEDIATE RELEASE EXPEDITORS REPORTS THIRD QUARTER 2026 EPS OF $2.65
BELLEVUE, WASHINGTON - November 3, 2026, Expeditors International of Washington,
Inc. (NYSE:EXPD) today announced third quarter 2026 financial results including
the following comparisons to the same quarter of 2025: • Diluted Net Earnings
Attributable to Shareholders per share (EPS) increased 62% to $2.65 • Net
Earnings Attributable to Shareholders increased 55% to $345 million • Operating
Income increased 55% to $445 million • Revenues increased 42% to $4.1 billion •
Airfreight tonnage increased 13% and ocean container volume increased 7% •
Customs, Transcon, Distribution, and Order Management each achieved double-digit
revenue growth for a third consecutive quarter • Cash returned to shareholders
in the form of share repurchases and dividends was $197 million and $946 million
for the third quarter and year-to-date period of 2026, respectively Daniel R.
Wall, President and Chief Executive Officer, commented: “We continue to gain
share, particularly in markets that we have made a strategic focus. By
continuing to streamline our processes and prioritize companywide growth across
every region, product, and district, we once again generated double-digit growth
across most of our businesses. While we have thrived during periods of
significant disruption throughout our history, the strength of demand for our
products and services is what really drove Q3 performance. Demand from certain
customers, such as the hyperscalers, has been outpacing the market overall, but
we have been very deliberate to expand our customer base across our global
network and further diversify our revenues. I sincerely thank our global
operations, transition & implementation, sales, and account management teams for
their continued focus and dedication to our customers. Through those efforts, we
are now charting a course for durable performance no matter what the operating
environment.” Q3 2026 Operational Highlights Airfreight services : “Airfreight
demand remained strong during the quarter, with record global air tonnage
increasing approximately 13% year-over-year, driven primarily by continued
growth in South Asia, where export tonnage increased most notably. Hyperscaler
demand, which also includes shipments from Tier 1 and Tier 2 suppliers
supporting AI infrastructure, was a significant driver of volume growth, while
air capacity remains constrained by limited fleet expansion and ongoing new
aircraft delivery delays. Capacity was also impacted by aircraft redeployments
that affected Asia-Europe e-commerce, stemming from European Union regulations
meant to curb the flow of de minimis imports. At the same time, China-U.S.
e-commerce tonnage has nearly recovered to what it was prior to the U.S.
termination of de minimis shipments in May 2025. Adding geopolitical events to
this mix, airfreight rates remained elevated during the quarter, with demand
outpacing available capacity.”
NOTE: See Disclaimer on Forward-Looking Statements in this release.
Ocean freight and ocean services: “After the flattening we saw in Q2’26, ocean
volumes increased 7% year-over-year in Q3, with particularly strong comparative
growth in September and across Asia export markets. Significant congestion at
major Asian ports and transshipment hubs impacted the ocean markets, as capacity
was idled and port operations were halted as a result of three back-to-back
typhoons. Nevertheless, demand was consistently healthy and we were able to lean
into our longstanding carrier relationships to secure the capacity we needed to
support both existing and new customers amidst these service disruptions. The
strength of our global network and world class operating teams enabled us to
maintain service continuity and respond effectively as conditions deteriorated.
We expect congestion and supply chain challenges to persist through the
remainder of 2026.”
Customs brokerage and other services: “All of the products in our customs
brokerage and other services continued to generate double-digit growth during
the quarter, supported by strong customer demand across transportation
management, distribution, and supply chain solutions. Much of the strength in
our customs brokerage business was from tariff-related additional-line fees and
post-entry activity that began in Q3 2025. However, growth during the most
recent quarter was driven by significant new business wins, higher declaration
volumes, and broad-based customs services across all regions, from both new and
existing customers. Demand from AI hyperscalers and other high-value technology
customers continued to drive growth across a diverse range of geographies and
business sectors. Growth during the quarter was particularly strong in our
Transcon road freight and warehousing and distribution businesses, with robust
demand from large technology customers.”
David A. Hackett, Senior Vice President and Chief Financial Officer, added:
“We had another exceptional quarter and our pipeline of new business remains
strong, showing the durability of our earnings growth. Our revenue grew 42%,
while headcount increased only 1% from prior year, demonstrating the scalability
of our operating model and driving significant operating leverage. Our operating
efficiency increased to 36.7%, well above our historical target of 30%. The
growth in operating income of 55% combined with a lower tax rate and a lower
share count drove the 62% increase in diluted EPS.
“We have made and are continuing to make investments in temperature-controlled
facilities, critical logistics services, and productivity initiatives, including
investments in artificial intelligence and other technology solutions. These
high-return investments, coupled with our strong operational performance, are
driving revenue growth and improvements in productivity as we seek to decouple
headcount growth from revenue growth over the long term. We will continue making
high-return investments, including additional investments in artificial
intelligence and other technology solutions to further increase our net
operating margins over the long term.”
Mr. Hackett noted that the Company returned $197 million to shareholders through
share repurchases during the quarter and $946 million in dividends and share
repurchases for the first nine months of 2026.
2026 Investor Day
As previously announced, Expeditors plans to hold an Investor Day for its
shareholders and analysts on the morning of Wednesday, November 18, 2026, in New
York City.
Investor Questions
Investors may submit written questions via email to: investor@expeditors.com.
Questions received by the end of business on November 6, 2026 will be considered
in management's 8-K “Responses to Selected Questions.”
About Expeditors International of Washington, Inc.:
Expeditors International of Washington, Inc. (NYSE: EXPD) is a leading S&P 500
global logistics company headquartered in Bellevue, Washington. Through a
worldwide network of knowledgeable professionals across six continents and a
globally connected technology platform, Expeditors tailors solutions to manage
increasingly complex supply chains and international trade requirements. The
asset-light company offers air, customs, ocean, order management, road,
warehousing and distribution, and cargo insurance services to key industries
worldwide. Guided by a culture of exceptional customer service, Expeditors
aspires to be the most trusted and valued logistics company in the world. For
more information, visit expeditors.com.
NOTE: See Disclaimer on Forward-Looking Statements in this release.
Disclaimer on Forward-Looking Statements:
Certain statements contained in this news release are “forward-looking
statements,” based on management’s views with respect to future events and
underlying assumptions that involve risks and uncertainties. These forward-
looking statements include statements regarding our ability to take market
share; expand our customer base and diversify our revenues; to thrive during
period of disruption; to generate durable earnings growth and other operating
performance regardless of the operating environment; our ability to increase
financial performance by investing in AI and other technology solutions; the
resilience of our non-asset-based model; strategies and solutions to keep
customer freight moving out of and around impacted areas; our disciplined cost
control; a strong pipeline of new business and diverse areas of growth;
continued robust demand for all of our products by a diverse set of customers,
including hyperscalers; our ability to work closely with our customers and
carrier partners to find solutions, secure capacity, and deliver value, while
aligning our resources to maximize profitability. Future financial performance
could differ materially because of factors such as: congestion and supply chain
challenges; geopolitical uncertainty and ongoing conflicts in the Middle East
and Ukraine; national policy changes on tariffs and other similar measures; new
capacity in the marketplace; changes in ocean transit times; e-commerce demand
in the air market; volatile rates; and the price of fuel or fuel shortages. In
addition, port actions, other labor disruptions, tariffs, geopolitical tensions,
and the current uncertainty in the global economy could have the effect of
heightening many of the other risks described in Item 1A of our Annual Report on
Form 10-K. These and other factors are discussed in the Company’s regulatory
filings with the Securities and Exchange Commission, including those in “Item
1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2025, and the Company’s most recent Form 10-Q. The
forward-looking statements contained in this news release speak only as of this
date and the Company does not assume any obligation to update them except as
required by law.
NOTE: See Disclaimer on Forward-Looking Statements in this release.
Expeditors International of Washington, Inc. Third Quarter 2026 Earnings
Release, November 3, 2026 Financial Summary for three and nine months ended
September 30, 2026 and 2025 (Unaudited) (in 000's of US dollars except share
data)
Thr… Nine
mon… mon…
end… end…
Sep… % Sep… %
2026 30, 2025 Cha… 2026 30, 2025 Chan…
──────────────────────────────────────────────────────────────────────────────
Re… $ 4,1… $ 2,8… 42% $ 10,… $ 8,2… 27%
Di…
re…
co…
of
tr… $ 2,8… $ 1,9… 49% $ 7,1… $ 5,4… 30%
and
ot…
ex…
1
Sa…
and
ot… $ 768… $ 667… 15% $ 2,1… $ 1,9… 12%
op…
ex…
2
Op… $ 445… $ 288… 55% $ 1,0… $ 801… 36%
in…
Net
ea…
at… $ 344… $ 222… 55% $ 840… $ 609… 38%
to
sh…
Ba…
ea…
at…
to $ 2.65 $ 1.65 61% $ 6.39 $ 4.47 43%
sh…
per
sh…
Di…
ea…
at…
to $ 2.65 $ 1.64 62% $ 6.38 $ 4.46 43%
sh…
per
sh…
Ba…
we…
av… 129… 134… 131… 136…
sh…
ou…
Di…
we…
av… 130… 135… 131… 136…
sh…
ou…
1 Directly related cost of transportation and other expenses totals Operating
Expenses from Airfreight services, Ocean freight and ocean services and Customs
brokerage and other services as shown in the condensed consolidated statements
of earnings. 2 Salaries and other operating expenses totals Salaries and
related, Rent and occupancy, Depreciation and amortization, Selling and
promotion and Other as shown in the condensed consolidated statements of
earnings. During the three and nine months ended September 30, 2026, we
repurchased 1.1 million and 5.4 million shares of common stock at an average
price of $178.36 and $154.87. During the three and nine months ended September
30, 2025, we repurchased 1.8 million and 5.3 million shares of common stock at
an average price of $119.65 and $116.10 per share.
Employee Full-time
Equivalents as of
September 30,
2026 2025
North America 7,738 7,404
Europe 4,231 4,193
North Asia 2,323 2,306
South Asia 2,189 1,996
Middle East, Africa and 1,524 1,478
India
Latin America 911 891
Global Technology 1,151 1,483
Corporate 396 419
Total 20,463 20,170
Third quarter year-over-year percentage
increase in:
2026 Airfreight Ocean freight
kilos FEU
July 8% 5%
August 13% 5%
September 19% 12%
Quarter 13% 7%
NOTE: See Disclaimer on Forward-Looking Statements in this release.
EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Condensed
Consolidated Balance Sheets (In thousands, except per share data) (Unaudited)
September 30, 2026 December 31, 2025
──────────────────────────────────────────────────────────────────────────────
Assets:
Current Assets:
Cash and cash $ 1,092,464 $ 1,314,285
equivalents
Accounts receivable,
less allowance for
credit loss of 3,086,192 2,021,889
$7,740 at September
30, 2026 and $7,241
at December 31, 2025
Deferred contract 337,095 283,281
costs
Other 125,082 136,167
Total current assets 4,640,833 3,755,622
Property and
equipment, less
accumulated
depreciation and 455,607 462,122
amortization of
$659,590 at September
30, 2026 and $651,087
at December 31, 2025
Operating lease 555,204 550,162
right-of-use assets
Goodwill 7,927 7,927
Deferred income tax 106,733 101,671
asset, net
Other assets, net 19,740 16,134
Total assets $ 5,786,044 $ 4,893,638
Liabilities:
Current Liabilities:
Accounts payable $ 1,741,797 $ 1,123,429
Accrued expenses 622,207 448,055
Contract liabilities 449,710 358,386
Current portion of
operating lease 115,553 110,891
liabilities
Federal, state and
foreign income taxes 49,384 32,046
payable
Total current 2,978,651 2,072,807
liabilities
Noncurrent portion of
operating lease 460,282 459,698
liabilities
Deferred income tax 3,376 3,040
liability, net
Shareholders’ Equity:
Common stock, par
value $0.01 per
share. Issued and
outstanding: 1,296 1,339
129,551 shares at
September 30, 2026
and 133,884 shares at
December 31, 2025
Additional paid-in — —
capital
Retained earnings 2,533,724 2,538,455
Accumulated other (193,591 ) (184,161 )
comprehensive loss
Total shareholders’ 2,341,429 2,355,633
equity
Noncontrolling 2,306 2,460
interest
Total equity 2,343,735 2,358,093
Total liabilities and $ 5,786,044 $ 4,893,638
equity
3-November-2026 Expeditors International of Washington, Inc. Page5of 8
EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Condensed
Consolidated Statements of Earnings (In thousands, except per share data)
(Unaudited)
Three Nine
months months
ended ended
Septe… Septe…
30, 30,
Reve… 2026 2025 2026 2025
──────────────────────────────────────────────────────────────────────────────
Airf… $ 1,544… $ 1,020… $ 4,070… $ 2,873…
serv…
Ocean
frei…
and 1,102… 746,1… 2,412… 2,203…
ocean
serv…
Cust…
brok…
and 1,460… 1,128… 3,909… 3,135…
other
serv…
Total 4,107… 2,894… 10,39… 8,213…
reve…
Oper…
Expe…
Airf… 1,169… 766,7… 3,073… 2,113…
serv…
Ocean
frei…
and 861,4… 542,3… 1,809… 1,599…
ocean
serv…
Cust…
brok…
and 862,9… 630,5… 2,238… 1,756…
other
serv…
Sala…
and 588,2… 490,4… 1,661… 1,419…
rela…
Rent
and 70,619 68,308 207,5… 198,3…
occu…
Depr…
and 14,180 14,248 40,750 42,699
amor…
Sell…
and 10,384 9,657 30,649 28,159
prom…
Other 84,823 84,402 240,6… 252,7…
Total
oper… 3,662… 2,606… 9,303… 7,411…
expe…
Oper… 445,4… 288,0… 1,089… 801,6…
inco…
Other
Inco…
(Exp…
Inte… 5,504 8,491 20,965 26,858
inco…
Othe… (2,575 ) 1,640 2,465 3,529
net
Other
inco… 2,929 10,131 23,430 30,387
net
Earn…
befo… 448,3… 298,1… 1,113… 832,0…
inco…
taxes
Inco…
tax 103,7… 75,095 271,4… 220,9…
expe…
Net 344,5… 223,0… 841,8… 611,0…
earn…
Less
net
earn…
attr… 60 822 1,526 1,471
to
the
nonc…
inte…
Net
earn…
attr… $ 344,5… $ 222,2… $ 840,3… $ 609,6…
to
shar…
Basic
earn…
attr…
to $ 2.65 $ 1.65 $ 6.39 $ 4.47
shar…
per
share
Dilu…
earn…
attr…
to $ 2.65 $ 1.64 $ 6.38 $ 4.46
shar…
per
share
Weig…
aver…
basic 129,9… 134,9… 131,4… 136,3…
shar…
outs…
Weig…
aver…
dilu… 130,1… 135,2… 131,7… 136,7…
shar…
outs…
3-November-2026 Expeditors International of Washington, Inc. Page6of 8
EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Condensed
Consolidated Statements of Cash Flows (In thousands) (Unaudited)
Three Nine
mont… mon…
ended end…
Sept… Sep…
Ope… 30, 30,
Act… 2026 2025 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net $ 344,… $ 223,… $ 841,… $ 611…
ear…
Adj…
to
rec…
net
ear…
to
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3-November-2026 Expeditors International of Washington, Inc. Page7of 8
EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Business Segment
Information (In thousands) (Unaudited)
For
the
th…
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30, OTH… AFR…
20… UNI… NOR… LAT… NORTH SOU… AND ELIM… CON…
STA… AME… AME… ASIA ASIA EURO… IND… NATI… DAT…
──────────────────────────────────────────────────────────────────────────────
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For
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MID…
UNI… OTH… LAT… NORTH SOU… EAS… ELIM… CON…
STA… NOR… AME… ASIA ASIA EURO… AFR… NATI… DAT…
AME… AND
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For
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For
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1 Directly related cost of transportation and other expenses totals Operating
Expenses from Airfreight services, Ocean freight and ocean services and Customs
brokerage and other services as shown in the Condensed Consolidated Statements
of Earnings. 2 Other operating expenses totals rent and occupancy, depreciation
and amortization, selling and promotion and other as shown in the consolidated
statements of earnings.
3-November-2026 Expeditors International of Washington, Inc. Page8of 8