Expeditors International of Washington (EXPD) FY2018 results: revenue $8.1 billion, up 17.6% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $8.1 billion for fiscal 2018, the year ended 31 December 2018, up 17.6% on the year before. Net income was $618 million, up 26.3%, and diluted earnings per share $3.48. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$8.1 billion
+17.6% on the year
FY2011FY2018
Operating margin
9.8%
10.1% a year earlier
FY2011FY2018
Net income
$618 million
+26.3% on the year
FY2011FY2018
Diluted EPS
$3.48
+29.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
8,138
6,921
6,098
+17.6%
Operating income
797
700
670
+13.8%
Operating margin
9.8%
10.1%
11.0%
Pre-tax income
818
719
687
+13.9%
Income tax
199
228
254
-13.0%
Effective tax rate
24.3%
31.8%
37.0%
Net income
618
489
431
+26.3%
Net margin
7.6%
7.1%
7.1%
Diluted EPS
$3.48
$2.69
$2.36
+29.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
573
489
529
+17.2%
Capital expenditure
47.5
95.0
59.3
-50.0%
Free cash flow
525
394
470
+33.5%
Free cash flow margin
6.5%
5.7%
7.7%
Cash from investing
-48.4
-11.7
-53.2
Cash from financing
-628
-425
-298
Depreciation and amortisation
54.0
49.3
46.8
+9.5%
Share-based compensation
56.1
50.9
45.2
+10.3%
Buybacks
648
478
338
+35.5%
Dividends paid
157
150
145
+4.2%
Dividend per share
$0.90
$0.84
$0.80
+7.1%
Diluted shares, weighted
178m
182m
183m
-2.1%
Shares outstanding at period end
172m
176m
180m
-2.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,987
1,992
1,845
-0.3%
Non-controlling interest
0.9
2.5
2.6
-64.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,327
1,123
944
+18.2%
Total liabilities and equity
3,315
3,117
2,791
+6.3%
Fixed assets
504
525
537
-4.0%
Goodwill
7.9
7.9
7.9
0.0%
Cash and equivalents
924
1,051
974
-12.1%
Receivables
1,582
1,415
1,190
+11.8%
Other assets
297
118
81.8
+151.8%
Total assets
3,315
3,117
2,791
+6.3%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.