Expeditors International of Washington saw its stock plummet 5.03% in intraday trading, despite reporting better-than-expected first-quarter results. The company's shares took a hit as investors focused on warnings from CEO Daniel Wall about declining trade volumes and ongoing uncertainty in the logistics industry.
Expeditors reported first-quarter earnings of $1.47 per share, surpassing analysts' expectations of $1.37 per share. Revenue also beat estimates, coming in at $2.67 billion compared to the expected $2.56 billion. However, the positive financial results were overshadowed by concerns about the future of global trade.
CEO Wall cautioned that China-to-U.S. ocean volumes are showing signs of significant decline, and the company is facing a "frenzied landscape of tariffs, threats of tariffs, shifting geopolitics, and other disruptions." The uncertainty surrounding trade policies and potential economic slowdown has led to a cautious outlook for the logistics industry, prompting investors to reassess their positions in Expeditors stock.
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