Filing Flows › Expeditors International of Washington (EXPD) › Q2 2026 › vs Q1 2026
Expeditors International of Washington (EXPD) Q2 2026 vs Q1 2026 (quarter over quarter)
Expeditors International of Washington's revenue rose $719M (+26%) from $2.8B in Q1 2026 to $3.5B in Q2 2026. The biggest changes: Airfreight Services +$464M (+45%); Customs Brokerage and Other Services +$143M (+12%); Ocean Freight and Ocean Services +$112M (+19%). Operating margin 10.0% against 10.6% (-0.6 pts).
Expeditors International of Washington, Q2 2026: revenue $3.5B (+32% year over year), operating margin 10.0%, net earnings $267M, operating cash flow $179M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 10.0% | 10.6% | -0.6 pts |
| Net margin | 7.6% | 8.3% | -0.6 pts |
| Free cash flow margin | 4.8% | 10.7% | -5.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Airfreight Services | $1.5B | $1.0B | $464M | +45% |
| Customs Brokerage and Other Services | $1.3B | $1.2B | $143M | +12% |
| Ocean Freight and Ocean Services | $711M | $599M | $112M | +19% |
| Revenue | $3.5B | $2.8B | $719M | +26% |
| Operating profit | $350M | $295M | $54.8M | +19% |
| Costs & expenses | $3.2B | $2.5B | $665M | +27% |
| Pre-tax earnings | $358M | $306M | $52.0M | +17% |
| Sales & marketing | $9.9M | $10.4M | −$477K | -5% |
| Other operating costs | $3.1B | $2.5B | $665M | +27% |
| Net earnings | $267M | $230M | $37.2M | +16% |
| Income tax | $91.2M | $76.4M | $14.8M | +19% |
| Depreciation & amortization | $12.7M | $13.9M | −$1.2M | -9% |
| Share-based compensation | $32.2M | $12.8M | $19.4M | +151% |
| Working capital & other | $134M | −$52.5M | $186M | — |
| Operating cash flow | $179M | $309M | −$131M | -42% |
| Free cash flow (OCF − capex) | $167M | $297M | −$130M | -44% |
| Capital expenditures | $12.0M | $12.6M | −$621K | -5% |
Questions
How much did Expeditors International of Washington's revenue grow quarter over quarter in Q2 2026?
Expeditors International of Washington's revenue rose $719M (+26%) from $2.8B in Q1 2026 to $3.5B in Q2 2026.
What drove Expeditors International of Washington's revenue change in Q2 2026?
Airfreight Services +$464M (+45%); Customs Brokerage and Other Services +$143M (+12%); Ocean Freight and Ocean Services +$112M (+19%).