EXPD — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Revenues increased 32% due to strong performance and volumes in most services.

• Airfreight services revenues increased 57% and customs brokerage and other services revenues increased 27%.

• Airfreight services, road freight and warehousing and distribution services (included with customs brokerage and other services) all benefited from continued strong demand from our technology customers investing in artificial intelligence (AI) infrastructure.

• Revenue from ocean freight and other services increased 5% as average buy and sell rates and ocean containers shipped started increasing in the latter part of the quarter following three consecutive quarters of declines.

• We announced a restructuring of our Global Technology group and incurred $25 million in related expenses.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• Revenues increased 4% as strong performance in most services was partially offset by a significant drop in ocean freight services.

• Customs brokerage and other services revenues increased 17% and airfreight services revenues increased 14%.

• Revenue from ocean freight and other services decreased 23% due to significant decreases in average ocean sell rates and buy rates and a 4% decline in ocean containers shipped. Demand for ocean services declined after U.S. importers accelerated shipments in anticipation of trade tariffs changes in e…

• Airfreight services, road freight and warehousing and distribution services (included with customs brokerage and other services) all benefited from continued strong demand from our technology customers investing in artificial intelligence infrastructure.

• Operating income increased 11% and net earnings to shareholders increased 13%, as compared to the first quarter of 2025.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• The principal foreign exchange risks to which Expeditors is exposed include Chinese Yuan, Indian Rupee, Euro, Mexican Peso, Canadian Dollar, British Pound and Vietnamese Dong.

Text added vs the prior filing · source: 10-Q · 2026-08-05

• On August 3, 2026, the Board of Directors of the Company approved the Amended and Restated Bylaws of the Company (the “Bylaws”), effective immediately. The amendments to the Bylaws were adopted as part of the Company’s periodic review of its corporate governance documents to update, clarify, and mod…

• The amendments to the Bylaws, among other things, revise certain provisions relating to the conduct of shareholder meetings, including the expansion of authority of the chairperson of such meetings with respect to convening, postponing, recessing, and adjourning shareholder meetings and establishing…

• The amendments to the Bylaws also update the advanced notice provisions governing shareholder proposals and director nominations by clarifying the timing, informational, and procedural requirements applicable to shareholders seeking to nominate directors or bring other business before a meeting of t…

• The amendments to the Bylaws also modify certain procedural requirements applicable to shareholder nominations,

• including provisions relating to the accuracy and verification of information submitted by shareholders, director nominee interview requirements, and director nominee representations.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• Effective May 5, 2026, the Company entered into a new Employment Agreement with each of Daniel Wall, President and Chief Executive Officer; Blake Bell, President, Global Business Development; Kelly Blacker, President, Global Geographies; Roberto Martinez, President, Global Products; and David Hacket…

• termination without cause, (ii) one year of base salary in the event of resignation, and (iii) two (2) times (or 2.99 times for Daniel Wall) total annual cash compensation in the event of a termination without cause or resignation for good reason in the event of a change of control, subject to a rel…

• On May 5, 2026, the Compensation Committee approved a new form of Performance Share Award Agreement to modify the treatment of Performance Share Units (PSUs) in the event of a change in control when replacement awards are not issued. In such instance, the participant shall be entitled to receive a p…

• The foregoing is a summary of the material terms of the Employment Agreements and of the change to the form of Performance Share Award Agreement and does not purport to be complete. The Employment Agreements and the form of Performance Share Award Agreement are attached as Exhibits 10.20, 10.21, 10.…

• During the quarterly period ended March 31, 2026, no director or officer adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement.