Form 8-K

8-K — EXPEDITORS INTERNATIONAL OF WASHINGTON INC

Accession: 0001193125-26-332198

Filed: 2026-08-04

Period: 2026-08-04

CIK: 0000746515

SIC: 4731 (ARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — expd-20260804.htm (Primary)

EX-99.1 (expd-ex99_1.htm)

GRAPHIC (img147555614_0.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: expd-20260804.htm · Sequence: 1

8-K

false000074651500007465152026-08-042026-08-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2026

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

(Exact name of Registrant as Specified in Its Charter)

Washington

001-41871

91-1069248

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

3545 Factoria Blvd SE

Sterling Plaza 2

3rd Floor

Bellevue, Washington

98006

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 206 674-3400

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

EXPD

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 4, 2026, Expeditors International of Washington, Inc., a Washington corporation, issued a press release announcing second quarter 2026 financial results. A copy of the press release is furnished as Exhibit 99.1 to this report.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

99.1

Press release, dated August 4, 2026 issued by Expeditors International of Washington, Inc.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

Date:

August 4, 2026

By:

/s/ David A. Hackett

David A. Hackett, Senior Vice President and Chief Financial Officer

EX-99.1

Filename: expd-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

EARNINGS RELEASE

By:

Expeditors International of Washington, Inc.

3545 Factoria Blvd. SE

Sterling Plaza 2, 3rd Floor

Bellevue, Washington 98006

CONTACTS:

Daniel R. Wall

David A. Hackett

Geoffrey Buscher

President and Chief Executive Officer

Senior Vice President and Chief Financial Officer

Director - Investor Relations

(206) 674-3455

(206) 674-3400

(206) 892-4510

FOR IMMEDIATE RELEASE

EXPEDITORS REPORTS SECOND QUARTER 2026 EPS OF $2.03

BELLEVUE, WASHINGTON - August 4, 2026, Expeditors International of Washington, Inc. (NYSE:EXPD) today announced second quarter 2026 financial results including the following comparisons to the same quarter of 2025:

•

Diluted Net Earnings Attributable to Shareholders per share (EPS1) increased 51% to $2.03

•

Net Earnings Attributable to Shareholders increased 45% to $266 million

•

Operating Income increased 41% to $350 million

•

Revenues increased 32% to $3.5 billion

•

Airfreight tonnage increased 14% and ocean container volume remained flat

•

Customs, Transcon, Distribution, and Order Management each achieved double-digit revenue growth for a second consecutive quarter

•

Cash returned to shareholders in the form of share repurchases and dividends was $461 million and $748 million, respectively, for the second quarter and year-to-date period of 2026

Daniel R. Wall, President and Chief Executive Officer, commented:

“Our excellent performance this quarter, with double-digit growth across most of our products, is demonstrating that our strategy around operational excellence is working and allowing us to take market share. By focusing on increasing growth in each region, product, and district, we generated tremendous growth and diversification. Our sales, account management, and operations teams all executed extremely well globally this quarter to drive and support this momentum.

“In July we announced the expansion of our Critical Logistics Services (CLS) to include expanded global Aircraft on Ground (AOG) capabilities, further strengthening our presence in time-critical aviation and aerospace logistics. We also continue to invest in our facilities to expand our capacity to meet growing demand for temperature-controlled solutions. By focusing on high-growth markets, we will be able to better serve an even more diverse range of customer needs.”

Q2 2026 Operational Highlights

Airfreight services: “Air buy and sell rates were highly elevated during the quarter, as demand for air capacity continued to outweigh available space, particularly late in the quarter and driven largely by a reduction in passenger flights and constrained belly capacity due to the conflict in the Middle East, home to some of the world's largest commercial air cargo operators. Tonnage increased 14% compared to a year ago and was up 16% compared to Q1 2026, primarily from trade lanes that have been relatively unaffected by the conflict, particularly Asia-U.S. and Asia-Europe. The ongoing heavy demand from AI hyperscalers shows no sign of slowing down, and we have seen increased demand for freighter space, as some hyperscalers are requiring upper-deck access for their servers. In addition, e-commerce out of North Asia has been climbing closer to where it was before the U.S. government began restricting de minimis entries in Q2 2025, putting further

1Diluted earnings attributable to shareholders per share.

NOTE: See Disclaimer on Forward-Looking Statements in this release.

pressure on capacity and rates. Given the current geopolitical state of the world and rising fuel costs along with tight capacity and routing challenges, air carriers are under enormous strain and may continue to be for some time.”

Ocean freight and ocean services: “Despite all of the complications impacting the ocean markets, the carriers have adapted well and managed capacity very carefully, driving an increase in rates particularly late in the quarter as demand also increased. As a result, we may be starting to see a flattening of the long downturn in the ocean market. Volumes increased 7% compared to Q1 2026, the first sequential increase since the third quarter of 2025. Strengthening demand combined with heightened pricing late in the quarter led to an increase in profitability per-container in Q2 2026.”

Customs brokerage and other services: “For a second consecutive quarter, customs and our other products within Customs brokerage and other services all generated double-digit growth from a diverse range of geographies and business sectors, led by demand from AI hyperscalers and other high-value technology customers. Our customs business benefited from tariff-related complexity, along with solid growth from new customers and increased declarations from existing customers. A temporary surge in IEEPA-related filings drove higher pricing, while cost discipline and productivity investments also helped improve our results.”

David A. Hackett, Senior Vice President and Chief Financial Officer, added:

“Our business performed exceptionally this quarter, and our pipeline of new business is very strong. Included in our results is a $25 million pretax restructuring charge related to our Global Technology team. This restructuring was done to modernize and reshape our Global Technology function for the future. While this was a strategic restructuring not driven by cost reduction, we expect it will lower our cost structure going forward by approximately $50 million annually, which equates to nearly 10% of our total corporate overhead expenses. We will continue making high-return investments, including additional investments in artificial intelligence and in our technology talent, capabilities, and solutions, consistent with our modernization strategy, to further increase our operating margins over the long term. The restructuring charge was partially offset by a $16 million gain on the sale of an underutilized property during the quarter.

“As shown above, our strategic investments continue to enhance productivity as our operating efficiency increased to 32.2% in Q2, inclusive of the restructuring charge and before the lower operating costs noted above take effect. In addition, our second quarter headcount remained essentially flat vs. the first quarter of 2026; these measures do not yet fully include the reduction in headcount from the restructuring activities, which will primarily be realized in the third quarter.”

Mr. Hackett noted that the Company returned $461 million in dividends and share repurchases during the quarter and $748 million in dividends and share repurchases for the first half of 2026.

2026 Investor Day

Expeditors plans to hold an Investor Day for its shareholders and analysts on the morning of Wednesday, November 18, 2026, in New York City.

About Expeditors International of Washington, Inc.:

Expeditors is a global logistics company headquartered in Bellevue, Washington. The Company employs trained professionals in 171 district offices and numerous branch locations located on six continents linked into a seamless worldwide network through an integrated information management system. Services include the consolidation or forwarding of air and ocean freight, customs brokerage, vendor consolidation, cargo insurance, time-definite transportation, order management, warehousing and distribution and customized logistics solutions.

NOTE: See Disclaimer on Forward-Looking Statements in this release.

Disclaimer on Forward-Looking Statements:

Certain statements contained in this news release are “forward-looking statements,” based on management’s views with respect to future events and underlying assumptions that involve risks and uncertainties. These forward-looking statements include statements regarding our ability to take market share, to strengthen our presence in time-critical aviation and aerospace logistics, to expand our capacity to meet growing demand for temperature-controlled solutions, and to better serve an even more diverse range of customer needs; the resilience of our non-asset-based model; strategies and solutions to keep customer freight moving out of and around impacted areas; our disciplined cost control; a strong pipeline of new business and diverse areas of growth; robust demand for our customs brokerage services; our ability to work closely with our customers and carrier partners to find solutions and deliver value, while aligning our resources to maximize profitability; and our ability to achieve benefits from restructuring our Global Technology team and from making investments in technology, including artificial intelligence to help drive productivity gains. Future financial performance could differ materially because of factors such as: geopolitical uncertainty; national policy changes on tariffs and other similar measures; new capacity in the marketplace; longer ocean transit times; e-commerce demand in the air market; volatile rates; the price of fuel or fuel shortages; our ability to deliver differentiated performance because of our customer service culture and compensation model; our ability to continue to process an increasing number of more complex customs clearances; and our ability to remain a strong, healthy, unified and resilient organization. Port actions, other labor disruptions, tariffs, and the current uncertainty in the global economy could have the effect of heightening many of the other risks described in Item 1A of our Annual Report on Form 10-K, including, without limitation, those related to the success of our strategy and desire to maintain historical unitary profitability, our ability to attract and retain customers, our ability to manage costs, interruptions to our information technology systems, the ability of third-party providers to perform, and potential litigation and contingencies, including risks associated with tax audits, as updated by our reports on Form 10-Q, filed with the Securities and Exchange Commission. These and other factors are discussed in the Company’s regulatory filings with the Securities and Exchange Commission, including those in “Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and the Company’s most recent Form 10-Q. The forward-looking statements contained in this news release speak only as of this date and the Company does not assume any obligation to update them except as required by law.

NOTE: See Disclaimer on Forward-Looking Statements in this release.

Expeditors International of Washington, Inc.

Second Quarter 2026 Earnings Release, August 4, 2026

Financial Summary for three and six months ended June 30, 2026 and 2025 (Unaudited)

(in 000's of US dollars except share data)

Three months ended June 30,

Six months ended June 30,

2026

2025

% Change

2026

2025

% Change

Revenues

3,502,335

2,651,885

32%

6,285,297

5,318,304

18%

Directly related cost of transportation and other expenses 1

2,416,840

1,753,357

38%

4,227,991

3,530,032

20%

Salaries and other operating expenses 2

735,877

650,792

13%

1,412,860

1,274,678

11%

Operating income

349,618

247,736

41%

644,446

513,594

25%

Net earnings attributable to shareholders

266,226

183,574

45%

495,836

387,369

28%

Basic earnings attributable to shareholders per share

2.03

1.35

50%

3.75

2.83

33%

Diluted earnings attributable to shareholders per share

2.03

1.34

51%

3.74

2.82

33%

Basic weighted average shares outstanding

130,953

136,266

132,241

137,045

Diluted weighted average shares outstanding

131,372

136,631

132,724

137,537

1Directly related cost of transportation and other expenses totals Operating Expenses from Airfreight services, Ocean freight and ocean services and Customs brokerage and other services as shown in the Condensed Consolidated Statements of Earnings.

2Salaries and other operating expenses totals Salaries and related, Rent and occupancy, Depreciation and amortization, Selling and promotion and Other as shown in the Condensed Consolidated Statements of Earnings.

During the three and six months ended June 30, 2026, we repurchased 2.3 million and 4.3 million shares of common stock at an average price of $151.50 and $148.87. During the three and six months ended June 30, 2025, we repurchased 2.0 million and 3.5 million shares of common stock at an average price of $112.05 and $114.31 per share.

Employee Full-time Equivalents as of June 30,

2026

2025

North America

7,530

7,214

Europe

4,204

4,040

North Asia

2,302

2,306

South Asia

2,111

1,934

Middle East, Africa and India

1,534

1,463

Latin America

900

877

Global Technology

1,406

1,419

Corporate

402

413

Total

20,389

19,666

Second quarter year-over-year percentage increase (decrease) in:

2026

Airfreight

kilos

Ocean freight

FEU

April

13%

(9)%

May

14%

(1)%

June

15%

Quarter

14%

—

Investors may submit written questions via email to: investor@expeditors.com. Questions received by the end of business on August 7, 2026 will be considered in management's 8-K “Responses to Selected Questions.”

NOTE: See Disclaimer on Forward-Looking Statements in this release.

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)

June 30, 2026

December 31, 2025

Assets:

Current Assets:

Cash and cash equivalents

1,031,448

1,314,285

Accounts receivable, less allowance for credit loss of

$7,299 at June 30, 2026 and $7,241 at December 31, 2025

2,631,118

2,021,889

Deferred contract costs

259,486

283,281

Other

84,969

136,167

Total current assets

4,007,021

3,755,622

Property and equipment, less accumulated depreciation and

amortization of $665,264 at June 30, 2026 and $651,087 at December 31, 2025

451,086

462,122

Operating lease right-of-use assets

546,607

550,162

Goodwill

7,927

Deferred income tax asset, net

103,092

101,671

Other assets, net

19,177

16,134

Total assets

5,134,910

4,893,638

Liabilities:

Current Liabilities:

Accounts payable

1,468,305

1,123,429

Accrued expenses

607,664

448,055

Contract liabilities

348,857

358,386

Current portion of operating lease liabilities

116,234

110,891

Federal, state and foreign income taxes payable

18,378

32,046

Total current liabilities

2,559,438

2,072,807

Noncurrent portion of operating lease liabilities

451,051

459,698

Deferred income tax liability, net

3,348

3,040

Shareholders’ Equity:

Common stock, par value $0.01 per share. Issued and outstanding:

130,021 shares at June 30, 2026 and 133,884 shares at December 31, 2025

1,300

1,339

Additional paid-in capital

—

Retained earnings

2,309,720

2,538,455

Accumulated other comprehensive loss

(192,318

)

(184,161

)

Total shareholders’ equity

2,118,702

2,355,633

Noncontrolling interest

2,371

2,460

Total equity

2,121,073

2,358,093

Total liabilities and equity

5,134,910

4,893,638

4-August-2026 Expeditors International of Washington, Inc. Page 5 of 8

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

Condensed Consolidated Statements of Earnings

(In thousands, except per share data)

(Unaudited)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Revenues:

Airfreight services

1,494,842

951,787

2,525,705

1,853,547

Ocean freight and ocean services

710,922

675,782

1,309,806

1,457,447

Customs brokerage and other services

1,296,571

1,024,316

2,449,786

2,007,310

Total revenues

3,502,335

2,651,885

6,285,297

5,318,304

Operating Expenses:

Airfreight services

1,134,773

698,402

1,904,256

1,346,896

Ocean freight and ocean services

531,886

483,475

947,907

1,057,376

Customs brokerage and other services

750,181

571,480

1,375,828

1,125,760

Salaries and related

573,698

471,336

1,073,269

929,273

Rent and occupancy

68,428

65,741

136,884

130,084

Depreciation and amortization

12,695

13,847

26,570

28,451

Selling and promotion

9,894

9,928

20,265

18,502

Other

71,162

89,940

155,872

168,368

Total operating expenses

3,152,717

2,404,149

5,640,851

4,804,710

Operating income

349,618

247,736

644,446

513,594

Other Income:

Interest income

6,821

9,183

15,461

18,367

Other, net

2,022

1,050

5,040

1,889

Other income, net

8,843

10,233

20,501

20,256

Earnings before income taxes

358,461

257,969

664,947

533,850

Income tax expense

91,203

74,050

167,645

145,832

Net earnings

267,258

183,919

497,302

388,018

Less net earnings attributable to the noncontrolling

interest

1,032

345

1,466

649

Net earnings attributable to shareholders

266,226

183,574

495,836

387,369

Basic earnings attributable to shareholders per share

2.03

1.35

3.75

2.83

Diluted earnings attributable to shareholders per share

2.03

1.34

3.74

2.82

Weighted average basic shares outstanding

130,953

136,266

132,241

137,045

Weighted average diluted shares outstanding

131,372

136,631

132,724

137,537

4-August-2026 Expeditors International of Washington, Inc. Page 6 of 8

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Operating Activities:

Net earnings

267,258

183,919

497,302

388,018

Adjustments to reconcile net earnings to net cash from operating activities:

Provisions for losses on accounts receivable

2,381

1,051

3,181

1,812

Deferred income tax benefit

794

(7,523

)

(968

)

(7,447

)

Stock compensation expense

32,200

27,267

45,023

38,816

Depreciation and amortization

12,695

13,847

26,570

28,451

Other, net

(14,261

)

4,474

(16,144

)

6,765

Changes in operating assets and liabilities:

(Increase) decrease in accounts receivable

(575,863

)

(57,984

)

(625,376

)

50,165

Increase in accounts payable and accrued liabilities

441,269

61,885

509,620

43,466

(Increase) decrease in deferred contract costs

(84,703

)

(21,617

)

16,433

54,356

Increase (decrease) in contract liabilities

96,590

16,961

(1,999

)

(72,327

)

(Decrease) increase in income taxes payable, net

(1,124

)

(44,668

)

37,459

(14,328

)

Decrease (increase) in other, net

1,404

1,600

(3,227

)

4,087

Net cash from operating activities

178,640

179,212

487,874

521,834

Investing Activities:

Purchase of property and equipment

(11,991

)

(15,875

)

(24,603

)

(29,027

)

Other, net

21,356

21,486

180

Net cash from investing activities

9,365

(15,851

)

(3,117

)

(28,847

)

Financing Activities:

Proceeds on borrowings on lines of credit, net

(15

)

2,849

287

Proceeds from issuance of common stock

1,236

5,132

4,362

18,175

Repurchases of common stock

(354,907

)

(231,116

)

(642,531

)

(408,470

)

Dividends paid

(105,770

)

(104,139

)

(105,770

)

(104,139

)

Payments for taxes related to net share settlement of equity awards

(13,999

)

(9,844

)

(21,543

)

(10,353

)

Distribution to noncontrolling interest

(869

)

—

(1,519

)

(1,346

)

Net cash from financing activities

(474,324

)

(339,875

)

(764,152

)

(505,846

)

Effect of exchange rate changes on cash and cash equivalents

1,270

14,156

(3,442

)

20,701

Change in cash and cash equivalents

(285,049

)

(162,358

)

(282,837

)

7,842

Cash and cash equivalents at beginning of period

1,316,497

1,318,520

1,314,285

1,148,320

Cash and cash equivalents at end of period

1,031,448

1,156,162

1,031,448

1,156,162

Taxes Paid:

Income taxes

93,513

125,277

129,030

165,901

4-August-2026 Expeditors International of Washington, Inc. Page 7 of 8

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

Business Segment Information

(In thousands)

(Unaudited)

UNITED

STATES

OTHER

NORTH

AMERICA

LATIN

AMERICA

NORTH

ASIA

SOUTH

ASIA

EUROPE

MIDDLE

EAST,

AFRICA

AND

INDIA

ELIMI-

NATIONS

CONSOLI-

DATED

For the three months ended June 30, 2026:

Revenues

$1,164,252

141,860

68,181

817,046

568,779

519,885

225,216

(2,884)

3,502,335

Directly related cost of transportation

and other expenses1

$666,578

89,325

39,879

670,698

449,872

336,532

166,068

(2,112)

2,416,840

Salaries and related costs

$328,706

24,597

12,690

45,558

37,556

99,696

24,895

573,698

Other operating expenses2

$(504)

16,705

10,276

40,834

32,091

49,880

13,670

(773)

162,179

Operating income

$169,472

11,233

5,336

59,956

49,260

33,777

20,583

349,618

Identifiable assets at period end

$2,499,046

199,633

136,582

580,755

518,374

858,781

350,672

(8,933)

5,134,910

Capital expenditures

$6,240

796

186

282

775

2,563

1,149

11,991

Depreciation and amortization

$7,133

515

248

1,184

737

2,095

783

12,695

Equity

$1,270,494

58,576

61,342

175,652

205,374

320,189

190,235

(160,789)

2,121,073

For the three months ended June 30, 2025:

Revenues

$877,325

108,128

66,904

636,785

359,531

449,712

155,458

(1,958)

2,651,885

Directly related cost of transportation

and other expenses1

$454,354

67,428

40,945

507,413

277,355

293,878

113,243

(1,259)

1,753,357

Salaries and related costs

$266,018

20,205

11,030

36,686

28,567

88,913

19,917

471,336

Other operating expenses2

$31,859

16,726

9,745

36,820

28,117

41,878

15,015

(704)

179,456

Operating income

$125,094

3,769

5,184

55,866

25,492

25,043

7,283

247,736

Identifiable assets at period end

$2,554,090

186,248

105,069

523,858

354,318

789,514

286,466

(13,082)

4,786,481

Capital expenditures

$6,146

257

274

4,545

1,189

1,928

1,536

15,875

Depreciation and amortization

$7,896

499

253

1,176

622

2,791

610

13,847

Equity

$1,475,449

57,602

37,810

192,012

119,338

191,551

162,159

(38,638)

2,197,283

UNITED

STATES

OTHER

NORTH

AMERICA

LATIN

AMERICA

NORTH

ASIA

SOUTH

ASIA

EUROPE

MIDDLE

EAST,

AFRICA

AND

INDIA

ELIMI-

NATIONS

CONSOLI-

DATED

For the six months ended June 30, 2026:

Revenues

$2,118,829

271,494

127,176

1,419,962

991,955

968,759

392,374

(5,252)

6,285,297

Directly related cost of transportation

and other expenses1

$1,157,712

170,618

73,421

1,152,422

774,117

618,601

284,840

(3,740)

4,227,991

Salaries and related costs

$610,875

47,589

24,082

82,546

69,233

193,350

45,594

1,073,269

Other operating expenses2

$36,023

31,439

18,829

75,959

59,697

92,649

26,493

(1,498)

339,591

Operating income

$314,219

21,848

10,844

109,035

88,908

64,159

35,447

(14)

644,446

Identifiable assets at period end

$2,499,046

199,633

136,582

580,755

518,374

858,781

350,672

(8,933)

5,134,910

Capital expenditures

$13,808

1,047

335

1,082

1,813

4,662

1,856

24,603

Depreciation and amortization

$14,386

1,015

494

2,526

1,565

5,010

1,574

26,570

Equity

$1,270,494

58,576

61,342

175,652

205,374

320,189

190,235

(160,789)

2,121,073

For the six months ended June 30, 2025:

Revenues

$1,731,774

224,613

129,293

1,331,793

724,108

872,507

308,330

(4,114)

5,318,304

Directly related cost of transportation

and other expenses1

$906,271

140,621

77,380

1,061,907

558,850

565,594

222,091

(2,682)

3,530,032

Salaries and related costs

$524,107

39,797

21,468

77,047

56,639

170,462

39,753

929,273

Other operating expenses2

$54,407

31,554

19,659

74,566

51,402

85,237

30,043

(1,463)

345,405

Operating income

$246,989

12,641

10,786

118,273

57,217

51,214

16,443

513,594

Identifiable assets at period end

$2,554,090

186,248

105,069

523,858

354,318

789,514

286,466

(13,082)

4,786,481

Capital expenditures

$14,553

483

499

5,050

2,063

3,084

3,295

29,027

Depreciation and amortization

$16,834

996

504

2,232

1,192

5,437

1,256

28,451

Equity

$1,475,449

57,602

37,810

192,012

119,338

191,551

162,159

(38,638)

2,197,283

1 Directly related cost of transportation and other expenses totals Operating Expenses from Airfreight services, Ocean freight and ocean services and Customs brokerage and other services as shown in the Condensed Consolidated Statements of Earnings.

2Other operating expenses totals rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the consolidated statements of earnings.

4-August-2026 Expeditors International of Washington, Inc. Page 8 of 8

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