EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD)

Expeditors International of Washington, Inc. is a global third-party logistics provider that gives customers access to an international network of people and integrated information systems to support the movement and strategic positioning of goods. It purchases cargo space from carriers such as airlines, ocean shipping lines and trucking lines on a volume basis and resells that space to customers. It is a non-asset-based provider that does not own aircraft or ships and does not compete for overnight courier or small parcel business. The company has approximately 20,000 employees.

Its primary services are airfreight, ocean freight and ocean services, and customs brokerage and other services. Airfreight includes consolidation, where it buys airline capacity and resells it at lower rates than customers could typically negotiate on individual shipments, and forwarding of individual shipments. Ocean services include ocean freight consolidation (full container and less-than-container-load freight), direct ocean forwarding as an agent, and order management, which consolidates cargo from many suppliers and gives customers visibility into their orders. Customs brokerage and other services cover customs clearance and import services, Transcon intra-continental ground transportation (less-than-truck and full-truck), and warehousing and distribution such as inventory management, multi-channel order fulfillment and vendor managed inventory. Other offerings include time-definite and temperature-controlled transportation, cargo insurance, cargo monitoring and tracking, trade compliance consulting, supply chain analysis, and a Project Cargo unit for oversized or specialized shipments. The company is organized functionally in geographic operating segments.

Expeditors serves a diversified group of customers that vary in size, industry and geographic location. The goods it handles come from industries including technology (cloud and data center services, hyperscalers, semiconductors, personal computers and compute hardware), healthcare, automotive, aviation, aerospace, retail and high fashion. Industry vertical teams provide tailored solutions, and sales efforts focus on logistics and supply chain professionals within customer organizations. No single customer accounts for five percent or more of revenues. Strategic initiatives include growing services into and out of Europe and expanding customs brokerage throughout Asia.

Operationally, Expeditors runs 172 district offices across the Americas (70), Europe (45), Middle East, Africa and India (24), North Asia (17) and South Asia (16), plus branch offices and 35 independent agent relationships where it has no offices of its own. Strategy, products, technology and compliance programs are set at the corporate level, while local district offices staffed mainly by regional personnel sell and execute services. The company favors organic growth over acquisitions and runs a single global technology platform developed in-house, while also using third-party solutions for customs brokerage and investing in artificial intelligence, mainly for internal efficiency rather than customer-facing functions.