Expeditors expects 3Q profit of 28-30 cents

Sep 22, 2003 12:00 PM

Expeditors International of Washington Inc., which manages freight shipments for importers and exporters, said its third-quarter profit would be about 28 cents to 30 cents a share.

Analysts were expecting the company to report earnings of 33 cents per share, Bloomberg reported. Expeditors earned 28 cents a share a year ago.

Results were hurt by a year-over-year decline in airfreight from Asia during August as well as tighter profit margins on that freight, the company said.