FX.co ★ Expeditors International of Washington Inc. Bottom Line Drops In Q1, but beats estimates

Expeditors International of Washington Inc. (EXPD) has reported a decrease in profit for first quarter compared to the same period last year. However, it still managed to exceed the Street's predictions.

The firm's earnings amounted to $169.152 million, or $1.17 per share, a drop from the $226.011 million, or $1.45 per share, reported in the first quarter of the previous year. Despite the decrease, the company was able to outperform the average analyst prediction of $1.08 per share according to data gathered by Thomson Reuters. It should be noted that these analyst estimates usually disregard extraordinary items.

The company's revenue for the quarter also decreased by 14.9%, falling to $2.206 billion from $2.592 billion the year before.

To provide a quick overview of Expeditors International of Washington Inc's earnings as per GAAP:

- Earnings for Q1: Dropped to $169.152 million from the previous year's $226.011 million.

- Earnings Per Share for Q1: Decreased to $1.17 from last year's $1.45.

- Revenue for Q1: Reduced to $2.206 billion from the previous year's $2.592 billion.