Expeditors International (EXPD) Q3 2025 10-Q Quarterly Report
Filed: Nov 6, 2025Period ending Sep 30, 2025
Industrials
Arrangement of Transportation of Freight & CargoSEC EDGAR Expeditors International (EXPD) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 6, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Expeditors International Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $2.89B Q3 2025, down 4% YoY from $3.01B in Q3 2024; ocean freight revenue fell 27% to $746M, customs brokerage up 13% to $1.13B
- • Operating income $288M Q3 2025, down 4% YoY from $302M; operating margin approx. 10.0% vs 10.0% YoY (calculated from revenues and operating income)
- • Best segment: Customs brokerage revenue up 13% to $1.13B, expenses up 11%; worst segment: Ocean freight revenue down 27% to $746M, expenses down 31%
- • Operating cash flow $201M Q3 2025, increased $111M YoY; cash used in financing $150M including $212M for share repurchases YTD
- • Management notes near-term headwinds from tariff-related demand shifts, ocean capacity increases, and geopolitical risks; expects continued pricing volatility and uncertain trade environment
Risk Factors
- • New risk: increased tariffs and trade disputes from U.S. tariff rebalancing, impacting volumes, with China exports revenue 22% in 2024, declining in 2025
- • Updated regulatory risk: U.S. 2025 Tax Act and OECD Pillar Two tax rules causing uncertainty in effective tax rate and liabilities
- • Most impactful legal risk: Indian tax authority transfer pricing claims, potential significant penalties and interest if resolved adversely
- • Operational risk: volatile international trade causing freight carrier capacity and rate fluctuations affecting near-term operations and results
- • Financial risk: multiple global tax jurisdictions with unpredictable audits and resolutions could materially alter tax provisions and financial outcomes
Expeditors International Q3 2025 Quarterly FinancialsXBRL
Revenue
$2.9B
▼ -3.5% YoY▲ +9.2% QoQ
Net Income
$222M
▼ -3.2% YoY▲ +21.1% QoQ
Operating Margin
10.0%
▼ -10bp YoY▲ +61bp QoQ
Net Margin
7.7%
▲ +3bp YoY▲ +76bp QoQ
ROE
9.7%
Total Assets
$4.8B
EPS (Diluted)
$1.64
▲ +0.6% YoY▲ +21.5% QoQ
Operating Cash Flow
$201M
▲ +123.8% YoY▲ +12.4% QoQ
Source: XBRL data from Expeditors International Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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