In its upcoming report, Expeditors International (EXPD) is predicted by Wall Street analysts to post quarterly earnings of $1.46 per share, reflecting a decline of 13.1% compared to the same period last year. Revenues are forecasted to be $2.8 billion, representing a year-over-year decrease of 5.3%.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Expeditors International metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Revenues- Airfreight services' will reach $1.04 billion. The estimate indicates a year-over-year change of -2.6%.
The average prediction of analysts places 'Revenues- Ocean freight and ocean services' at $687.50 million. The estimate indicates a change of -24.3% from the prior-year quarter.
Analysts forecast 'Revenues- Customs brokerage and other services' to reach $1.07 billion. The estimate points to a change of +8.6% from the year-ago quarter.
Based on the collective assessment of analysts, 'Net revenues- Airfreight services' should arrive at $252.72 million. The estimate points to a change of -0.7% from the year-ago quarter.
Analysts' assessment points toward 'Net revenues- Customs brokerage and other services' reaching $485.71 million. The estimate indicates a year-over-year change of +7.3%.
According to the collective judgment of analysts, 'Net revenues- Ocean freight and ocean services' should come in at $184.94 million. The estimate indicates a year-over-year change of -18.7%.
View all Key Company Metrics for Expeditors International here>>>
Shares of Expeditors International have demonstrated returns of -8% over the past month compared to the Zacks S&P 500 composite's -0.8% change. With a Zacks Rank #3 (Hold), EXPD is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Expeditors International of Washington, Inc. (EXPD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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