Expeditors Q4 Earnings To Be Below Consensus Estimates; Shares Plunges

(RTTNews) - Expeditors International of Washington, Inc. (EXPD) said its preliminary fourth quarter operating income is expected to be in a range of $177 million to $183 million. Earnings per share to shareholders is projected to range between $0.78 and $0.81. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.94. Analysts' estimates typically exclude special items.

"We recognize that our revenue and earnings will be below prior-year results and analyst consensus estimates," said Jeffrey Musser, CEO.

Expeditors expects to report fourth quarter results on February 18, 2020.

Shares of Expeditors International were down 7% in pre-market trade on Friday.