Expeditors has announced its financial results for the full year and fourth quarter of 2014. For the fourth quarter it reported revenue of $1.77bn, a year-on-year increase of 9%. The company also recorded Q4 operating income of $157.87m, which represented an increase of 18% over the prior comparable period of 2013. Accordingly Expeditors’ Q4 margin stood at 8.93%.
For the full year 2014 Expeditors reported revenue of $6.56bn, an 8% increase year-on-year. The company also recorded an increase of 8% in its operating income, which rose to $594.65m for the year. Accordingly Expeditors’ full year margin stood at 9.06%.
Bradley Powell, Expeditors’ Senior Vice President and Chief Financial Officer said, “During the 2014 fourth quarter saw strong year-over-year increases in both air and ocean freight volumes. Despite the basis point reduction in overall net revenue margin, air freight and ocean freight net revenues both managed double digit increases, up 10% and 11% respectively, as overall net revenue increased by 9%.”
“These fourth quarter results are a great affirmation of our efforts to date. We’ve worked steadily to improve our performance throughout 2014, being able to see the effects of our focus and concentration reflected this quarter in double digit operating income growth, as well as double digit growth in both air and ocean freight net revenue has provided us with some important positive reinforcement,” said Jeffrey Musser, President and Chief Executive Officer.
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