Filing Flows › Expeditors International of Washington (EXPD) › Q3 2025
Expeditors International of Washington (EXPD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Expeditors International of Washington (EXPD) reported revenue of $2.9B for the third quarter 2025 (Q3 2025), -4% from a year earlier and +9% from the quarter before. Operating margin was 10.0%, net earnings $223M (7.7% of revenue).
Expeditors International of Washington, Q3 2025: revenue $2.9B (-4% year over year), operating margin 10.0%, net earnings $223M, operating cash flow $201M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +9% | -4% |
| Operating profit | $288M | +16% | -4% |
| Net earnings | $223M | +21% | -3% |
| Operating cash flow | $201M | +12% | +124% |
| Free cash flow | $190M | +16% | +145% |
What changed
Revenue was $2.9B in Q3 2025, down 4% year over year and up 9% from the previous quarter. Customs Brokerage and Other Services was the largest line at 39% of revenue. Ocean Freight and Ocean Services lost $0.27B year over year (down 27%), 258% of the total change.
Operating profit was $0.29B, a 10.0% margin (down 0.1 points year over year). Total costs fell 3% while revenue fell 4%. The fastest-growing cost line was Sales & marketing (+27%). Net earnings were $0.22B, down 3% year over year. The effective tax rate was 25.2%.
Operating cash flow was $0.20B (up 124% year over year), 90% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.05B. Capital expenditures of $0.01B left free cash flow of $0.19B.
Questions
What was Expeditors International of Washington's revenue in the third quarter 2025?
Expeditors International of Washington (EXPD) reported revenue of $2.9B for the third quarter 2025 (Q3 2025), -4% from a year earlier and +9% from the quarter before.
Was Expeditors International of Washington profitable in the third quarter 2025?
Operating profit was $288M (10.0% of revenue) and net earnings $223M.
Source: Expeditors International of Washington 10-Q on SEC EDGAR.