●  SYMBOLOGY.ONLINE · Company Overview 

Expeditors International Of Washington Inc.

Arrangement of Transportation of Freight & Cargo

Profitability has increased since the last annual filing, driven by accelerating growth in specialized services like customs brokerage. However, this operational improvement is set against a backdrop of widening structural risks and intensifying headwinds in core logistics; revenue from ocean freight has deepened its decline significantly. Furthermore, quarterly disclosures revealed an unmitigated vulnerability regarding foreign currency exposure due to a historical lack of derivative utilization.

EXPD FY2025 — FY2026 Multi-Level Synthesis
The BriefCurrent Year
$99.2M -43.5% Total Assets
FY2025 — FY2026 Synthesis Period
10-Q Synthesised from Form 10-Q
50K Input Tokens Considered
●  SYMBOLOGY.ONLINE l3 SYNTHESIS 

Expeditors International Of Washington Inc's Fiscal Year So Far

Performance Shifts and Segment Divergence

Profitability has increased significantly since the last annual report, with operating income rising 11% and net earnings growing 13%, reversing the flat performance reported in the previous filing. This operational improvement contrasts sharply with a deepening decline in core logistics areas: revenue from ocean freight and other services has accelerated its decrease, moving from an 11% reduction noted annually to a 23% drop in the most recent quarter.

Specialized Services Growth

The company is demonstrating strong execution within high-value segments. Revenues generated by Customs brokerage and related services increased by 17%, accelerating beyond the 13% growth reported during the annual period, signaling robust demand in specialized areas despite broader freight challenges.

Evolving Risk Profile and Operational Response

Quarterly disclosures introduced critical details regarding structural weaknesses and management's response to global volatility.

Foreign Currency Exposure

A newly acknowledged limitation exists within the company’s risk toolkit: a historical lack of utilization of foreign currency derivatives. This reliance on accelerating international settlements represents an unmitigated structural weakness when facing volatile international markets, a factor not previously detailed in the annual filing.

Geopolitical Mitigation Strategies

In response to specific geopolitical disruptions, such as the closure of the Strait of Hormuz, management has provided operational detail on mitigation. The strategy involves leveraging "our ability to adjust the routing of our customers' shipments" to minimize financial impact from these events.

Open Questions for the Fiscal Year Ahead

The divergence between accelerating growth in specialized services and deepening declines in ocean freight raises questions about whether high-value contracts are sufficient to offset core logistics headwinds. Furthermore, the newly disclosed vulnerability regarding foreign currency exposure suggests that future operational resilience may depend heavily on the company’s ability to successfully adapt routing strategies against escalating global instability.

Click to expand sources
10-Q · FY 2026 Q2
Filed May 6, 2026
10-K · FY 2025
Filed Feb 25, 2026
●  EXPD · FINANCIALS 

A glance at finances.

Total Assets $99.2M -43.5% YoY
Total Equity $2.3B +0.2% YoY
Cash & Equivalents $1.3B +10.6% YoY
Total Liabilities $496.4M +16.2% YoY
●  FILING HISTORY 

View specific filings

FY2021
10-K
FY2022
10-K
FY2023
10-K
FY2024
10-K
FY2025
10-K
FY2026
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
●  SYMBOLOGY.ONLINE L2 Synthesis 

Sections compared over time.

Management Discussion
The latest quarterly disclosures report a marked improvement in operational execution, with net earnings rising by 13% and revenues from Customs brokerage accelerating growth.
L2 Synthesis Open
●  SYMBOLOGY.ONLINE TEXT DIFFS 

What's new in the latest filing.

In the Risk Factors:

escalated

The most material shift is in the remediation status, as management previously concluded that necessary enhancements were implemented and operating effectively as of June 30, 2024, but now reports identifying additional IT controls that were not designed or operated appropriately and cannot estimate when full remediation will be completed.
§1A.3 Open

In the Management Discussion:

reworded

Ocean freight and ocean services revenues increased substantially, rising 82% in the three months ended September 30, 2024, largely due to sharp increases in average sell and buy rates driven by importers front loading shipments. This performance contrasts with the prior period, which noted declining revenues and rates due to excess capacity and market conditions.
§7.10 Open

In the Management Discussion:

reworded

The risk disclosure was updated to include port congestion concerns alongside ocean market disruptions, and the economic uncertainty risk factor shifted from focusing on inflation and interest rates to geopolitical concerns. Furthermore, tonnage increases are now specifically attributed to demand in the healthcare and technology sectors.
§7.9 Open

In the Management Discussion:

reworded

Other overhead expenses decreased 3% for the three months ended September 30, 2024, primarily due to a $14 million decrease in expenses related to indirect tax contingencies. Furthermore, total bonuses for field and executive management decreased only 1% for the nine months ended September 30, 2024, compared to a 15% decrease in the prior period.
§7.12 Open

In the Management Discussion:

reworded

The description of cash used in financing activities was updated to include employee stock purchases, and the company increased its common stock repurchase volume from 3.9 million shares to 5.1 million shares over the nine-month period. Additionally, total anticipated capital expenditures for 2024 were reduced from $60 million to $50 million.
§7.15 Open

In the Management Discussion:

reworded

For the nine months ended September 30, 2024, revenues remained flat while expenses increased by 1%, a significant change from the prior period's 4% revenue decrease. Furthermore, the primary drivers for the three-month period were updated to include increases in import services alongside customs clearances and road freight.
§7.11 Open