Gross Margin Pressure Abates on Solid Yield Management in Expeditors' 3Q
In the third quarter, wide-moat global forwarder Expeditors International posted 15% gross revenue growth (year over year), ahead of our forecast, due to impressive airfreight volume growth and a stronger-than-anticipated uptick in sell rates to customers on both air and ocean business. Solid pricing execution aided gross margins, which in turn drove net-revenue above our expected run rate as well. Freight demand has accelerated nicely throughout 2017, with help from healthy global trade, partic...Expeditors International of Washington provides global logistics services. As a third party logistics provider, the company purchases cargo space from carriers (such as airlines, ocean shipping lines, and trucking lines) on a volume basis and resells that space to its customers. The company provides a range of transportation services and customer solutions, such as customs brokerage, order management, transportation, warehousing and distribution, transit, cargo insurance, cargo monitoring and tracking, and other customized logistics and consulting solutions. The company's Project Cargo unit handles special project shipments that move via a single method or combination of air, ocean, and/or ground transportation.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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