Expeditors Declares $0.77 Semi-Annual Dividend

Expeditors International of Washington, Inc. (NASDAQ: EXPD) announced that its Board of Directors has declared a semi-annual cash dividend of $0.77 per share, payable on June 16, 2025, to shareholders of record as of June 2, 2025.

Expeditors International Appoints Kelly Blacker as President of Global Geographies

Bellevue, WA – March 19, 2025 – Expeditors International of Washington, Inc. (NASDAQ: EXPD) has named Kelly K. Blacker as its new President – Global Geographies, effective April 1, 2025. Blacker, currently serving as President – Global Products, has been with the company since 1994 and has held various leadership roles across multiple U.S. regions.

There are no related party arrangements or transactions tied to her appointment.

Expeditors International of Washington, Inc. announced that President and CEO Jeffrey S. Musser will retire on March 31, 2025. Musser will also step down from the Board of Directors and not stand for election at the company’s 2025 Annual Meeting of Shareholders.

The Board of Directors has unanimously elected Daniel R. Wall, currently serving as President – Global Geographies, as the next President and CEO, effective April 1, 2025. Wall, who has been with Expeditors since 1987, will also be appointed to the Board of Directors and stand for election at the upcoming Annual Meeting.

Wall has held multiple leadership positions at Expeditors, including Senior Vice President - Ocean Services and President, Global Products. His appointment follows a long tenure with the company, ensuring continuity in leadership. There are no arrangements or family relationships influencing his appointment, and he has no material interests in related transactions.

Expeditors filed this leadership transition announcement with the SEC on February 19, 2025.

Expeditors International of Washington, Inc. (NYSE: EXPD) has reported strong financial results for the fourth quarter of 2024, with earnings per share (EPS) rising 54% to $1.68. Net earnings attributable to shareholders increased by 49% to $236 million, while operating income grew by 51% to $301 million. Total revenue for the quarter reached $3.0 billion, representing a 30% year-over-year increase.

The company attributed its success to strong demand from Asia, increased airfreight tonnage (up 11%), and ocean container volume growth (up 14%). Geopolitical factors, including supply chain disruptions in the Red Sea and shifts in U.S. trade policy, have contributed to a volatile global shipping environment. Expeditors emphasized its ability to navigate these challenges and capitalize on increased demand for freight transportation and customs services.

Senior Vice President and CFO Bradley S. Powell highlighted the company's efficiency, noting that operating income as a percentage of revenue remained above the 30% target. Expeditors also continued its commitment to shareholder returns, distributing over $1.1 billion through stock repurchases and dividends in 2024 for the third consecutive year.

The company remains cautious about future market conditions, citing uncertainty in trade policies and ongoing geopolitical disruptions. However, leadership remains confident in Expeditors' ability to adapt and provide essential logistics solutions during uncertain times.