Expeditors International of Washington (EXPD) FY2023 results: revenue $9.3 billion, down 45.5% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $9.3 billion for fiscal 2023, the year ended 31 December 2023, down 45.5% on the year before. Net income was $753 million, down 44.5%, and diluted earnings per share $5.01. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$9.3 billion
-45.5% on the year
FY2016FY2023
Operating margin
10.1%
10.7% a year earlier
FY2016FY2023
Net income
$753 million
-44.5% on the year
FY2016FY2023
Diluted EPS
$5.01
-39.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,053
2,130
868
-50.5%
Capital expenditure
39.3
86.8
36.2
-54.7%
Free cash flow
1,014
2,043
832
-50.4%
Free cash flow margin
10.9%
12.0%
5.0%
Cash from investing
-39.4
-87.7
-36.6
Cash from financing
-1,537
-1,685
-614
Depreciation and amortisation
67.8
57.3
51.3
+18.2%
Share-based compensation
58.4
64.4
69.4
-9.3%
Buybacks
1,393
1,582
515
-11.9%
Dividends paid
202
214
196
-5.5%
Dividend per share
$1.38
$1.34
$1.16
+3.0%
Diluted shares, weighted
150m
164m
171m
-8.7%
Shares outstanding at period end
144m
154m
167m
-6.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,390
3,110
3,494
-23.1%
Non-controlling interest
1.1
3.5
3.6
-69.7%
Debt
n/a
0.0
0.0
Operating lease liabilities
428
423
386
+1.2%
Other liabilities
1,704
2,054
3,726
-17.0%
Total liabilities and equity
4,524
5,590
7,610
-19.1%
Fixed assets
479
502
488
-4.5%
Goodwill
7.9
7.9
7.9
0.0%
Cash and equivalents
1,513
2,034
1,729
-25.6%
Receivables
1,533
2,108
3,810
-27.3%
Other assets
991
939
1,575
+5.6%
Total assets
4,524
5,590
7,610
-19.1%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.