Expeditors International of Washington, Inc. is an American multinational logistics and freight forwarding company.
The company is based in Seattle, Washington, and has regional headquarters in London, Sao Paulo, Beirut, and Shanghai.
It is publicly listed on the NASDAQ Stock Market under the stock ticker symbol ‘EXPD’.
The company focuses on facilitating international trade via customized solutions and integrated information systems, including time-definite transportation, consolidation and forwarding of air or ocean freight, vendor consolidation, warehousing, cargo insurance, order management, distribution solution, customs brokerage, and logistics solutions.
The company’s core services are: Transportation, Customs & Compliance, Distribution, Order Management, and Risk Management.
Expeditor’s mission statement is “to set the standard for excellence in global logistics through total commitment to quality in people and customer service, with superior financial results.”
The company was founded in 1979 in Seattle, Washington and its primary business focus was on airfreight shipments from Asia to the United States and related customs brokerage and other services. By 1981 it was one of the largest U.S.-based air freight forwarders of goods from the Far East. Expeditor International went public on the NASDAQ Stock Market in 1984.
Expeditors International of Washington, Inc. – Overview
- Chairman and CEO: Peter J. Rose
- President: R. Jordan Gates
- CFO: Nicholas C. Bradley S. Powell
- Type: Public
- Industry: Logistics
- Publicly listed on the NASDAQ Stock Market
- NASDAQ stock ticker symbol: EXPD
- S&P 500 Component
- Revenue: $6.080 billion USD (2013)
- Net income: $350 million USD (2013)
- Diluted earnings per share: $1.68 USD (2013)
- Founded: 1979
- Employees: 13,910 (2013)
- Corporate headquarters: 1015 Third Avenue, 12thFloor, Seattle, Washington, USA
- Corporate contact number: (206) 674-3400
- Website: http://www.expeditors.com/
Expeditors International of Washington, Inc. – Financial Results
| Operating data (in $ thousands) | 2013 | 2012 |
| Total revenues | $6,080,257 | $5,992,215 |
| Total operating expenses | $5,528,184 | $5,461,417 |
| Operating income | $552,073 | $530,798 |
| Other income, net | $20,523 | $19,595 |
| Earnings before income taxes | $572,596 | $550,393 |
| Income tax expense | $222,585 | $217,424 |
| Net earnings | $350,011 | $332,969 |
| Net earnings attributable to shareholders | $348,526 | $333,360 |
| Balance sheet data (in $ thousands) | ||
| Total assets | $3,014,812 | $2,954,125 |
| Total current liabilities | $870,200 | $842,558 |
| Total stockholders’ equity | $2,084,783 | $2,027,699 |
| Cash flow data (in $ thousands) | ||
| Net cash provided by operating activities | $407,536 | $370,126 |
| Net cash used in investing activities | $(76,806) | $(46,994) |
| Net cash used in financing activities | $(332,028) | $(363,047) |
| Cash and cash equivalents at end of period | $1,247,652 | $1,260,842 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $1.69 | $1.58 |
| Diluted earnings (loss) per common share | $1.68 | $1.57 |
Source: “Expeditors International of Washington, Inc. 2013 Annual Report”