Expeditors has announced its Q3 2022 financial results, showing a revenue increase of 1% year-on-year (y-o-y), to $4.4 bn (2021: $4.3bn). Operating income increased by 8% to $527m (2021: $490m).
Airfreight services revenue decreased to $1.49bn, down from $1.6bn in 2021, while ocean freight and ocean services revenue rose to $1.7bn in Q3 2022, up from $1.6bn in 2021. Airfreight tonnage volume and ocean container volume decreased 13% and 10% y-o-y, respectively.
Customer brokerage and other services revenue increased to $1.2bn in Q3 2022, up from $1.1bn in 2021. Operating expenses rose to $746.1m, up from $686.8m in 2021.
Geographically, US revenues went up to $1.2bn, compared to $1.1bn in 2021. Operating income was $187.2m in 2022.
North America revenues increased to $140.6m, compared to $116.4m in 2021. Operating income was $30.3m. Latin America revenues were $68.1m in 2021, up from $54.3m in 2021. Operating income was $11.4m.
North Asia revenues decreased to $1.5bn, falling from $1.7bn in 2021. Operating income was $139.7m. South Asia revenue were $518.8m, down from $538.8m in 2021. Operating income was $38.9m.
Revenues in Europe amounted to $637.4m in 2021, up from $564.8m in 2021. Operating income was $74.9m.
Middle East, Africa and India revenues were $264.5m in 2021, increasing from $221.8m in 2021. Operating income was $19.1m in 2022.