Filing Flows › Expeditors International of Washington (EXPD) › Q3 2026 › vs Q2 2026
Expeditors International of Washington (EXPD) Q3 2026 vs Q2 2026 (quarter over quarter)
Expeditors International of Washington's revenue rose $605M (+17%) from $3.5B in Q2 2026 to $4.1B in Q3 2026. The biggest changes: Ocean Freight and Ocean Services +$392M (+55%); Customs Brokerage and Other Services +$164M (+13%); Airfreight Services +$49.8M (+3%). Operating margin 10.8% against 10.0% (+0.9 pts).
Expeditors International of Washington, Q3 2026: revenue $4.1B (+42% year over year), operating margin 10.8%, net earnings $345M, operating cash flow $213M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 10.8% | 10.0% | +0.9 pts |
| Net margin | 8.4% | 7.6% | +0.8 pts |
| Free cash flow margin | 4.7% | 4.8% | -0.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Airfreight Services | $1.5B | $1.5B | $49.8M | +3% |
| Customs Brokerage and Other Services | $1.5B | $1.3B | $164M | +13% |
| Ocean Freight and Ocean Services | $1.1B | $711M | $392M | +55% |
| Revenue | $4.1B | $3.5B | $605M | +17% |
| Operating profit | $445M | $350M | $95.8M | +27% |
| Costs & expenses | $3.7B | $3.2B | $510M | +16% |
| Pre-tax earnings | $448M | $358M | $89.9M | +25% |
| Sales & marketing | $10.4M | $9.9M | $490K | +5% |
| Other operating costs | $3.7B | $3.1B | $509M | +16% |
| Net earnings | $345M | $267M | $77.3M | +29% |
| Income tax | $104M | $91.2M | $12.6M | +14% |
| Depreciation & amortization | $14.2M | $12.7M | $1.5M | +12% |
| Share-based compensation | $16.0M | $32.2M | −$16.2M | -50% |
| Working capital & other | $162M | $134M | $28.7M | +21% |
| Operating cash flow | $213M | $179M | $33.9M | +19% |
| Free cash flow (OCF − capex) | $194M | $167M | $27.6M | +17% |
| Capital expenditures | $18.3M | $12.0M | $6.3M | +52% |
Questions
How much did Expeditors International of Washington's revenue grow quarter over quarter in Q3 2026?
Expeditors International of Washington's revenue rose $605M (+17%) from $3.5B in Q2 2026 to $4.1B in Q3 2026.
What drove Expeditors International of Washington's revenue change in Q3 2026?
Ocean Freight and Ocean Services +$392M (+55%); Customs Brokerage and Other Services +$164M (+13%); Airfreight Services +$49.8M (+3%).