Expeditors flies high!

US-based forwarder and logistics services provider Expeditors International reported fourth-quarter net income up 51.2% y-o-y to $168 million, as net revenue increased 14.6% to $629 million. Operating income for the quarter was up 15.6% to $199 million.

At first glance, the more than 50% increase in profit looks odd, but the quarter’s net income included a $39 million net income tax benefit from the effect of the 2017 Tax Cut and Jobs Act – absent this one-time benefit, net income would have been up 16.2%.

All three of the company’s business units performed well.

Overall, despite difficult conditions, Expeditors reported a fourth-quarter operating margin of 31.6%, and a net margin of 26.7% — flying high, indeed.

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