Expeditors International of Washington (EXPD) Revenue — Quarter Ended Mar 31, 2023
Revenue declined in the quarter compared to both the prior quarter and the same quarter a year earlier. The decrease was broad-based across the company's major service lines.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue declined in the quarter compared to both the prior quarter and the same quarter a year earlier. The decrease was broad-based across the company's major service lines.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.6B
Revenue reported for this quarter.
Quarter-over-quarter
-24.7%
Change from the immediately preceding quarter.
Year-over-year
-44.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$15B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $4.6B | +27.5% |
| Sep 30, 2022 | $4.4B | +1.0% |
| Dec 31, 2022 | $3.4B | -36.2% |
| Mar 31, 2023 | $2.6B | -44.4% |
Revenue performance
The company reported a lower revenue figure, continuing the downward trajectory observed in recent quarters.
Quarterly comparison
Sequentially, revenue fell from the immediately preceding quarter, and on a year-over-year basis, it was also below the same period in the prior year.
What to watch
The filing includes forward-looking statements that reference signs of a slowing economy and a drop in demand.