Expeditors International (EXPD) reported $2.86 billion in revenue for the quarter ended December 2025, representing a year-over-year decline of 3.3%. EPS of $1.49 for the same period compares to $1.68 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.8 billion, representing a surprise of +2.12%. The company delivered an EPS surprise of +2.06%, with the consensus EPS estimate being $1.46.While investors closely watch year-over-year changes in headline numbers -- revenue and earni ...

13 February 2026 | 6:07PM GMT Equity Research GS EQUITY RADAR Old economy and Chemicals, AI disruption, GOAL positioning plus Week Ahead and key research from the week Old economy and Chemicals. Peter Oppenheimer wrote this week about the return of physical assets including 'old economy' areas. Chemicals are an area Georgina Fraser thinks are interesting, turning pro-cyclical in her ratings and making seven rating changes to reflect her view that the cycle is already turning despite muted company commentary ...

Financial Data and Key Metrics Changes - Full year 2025 revenue grew 24% to $29.5 million, with Q4 revenue at $7.4 million, up 12% year-over-year [10][24] - Gross booking value reached $357 million in Q4, up 27% year-over-year [12] - Non-IFRS gross margin for Q4 was 72.7%, down from 74.3% in Q4 2024, while full year gross margin was 73.7%, up 130 basis points compared to 2024 [25] Business Line Data and Key Metrics Changes - Platform revenue grew 18% for the full year, while solutions revenue was up 27% from 2024 [24] - Q4 saw 445,000 bookings, marking a 27% increase year-over-year, with a record active carrier network of 77 carriers [11][12] - Solutions growth was softer than anticipated, indicating a need for tighter execution in product delivery and go-to-market strategies [15] Market Data and Key Metrics Changes - The company maintained a record of 445,000 bookings in Q4, reflecting strong transaction growth despite a volatile global trade environment [11] - The integration of new carriers and increased utilization of existing carriers contributed to transaction growth [12] Company Strategy and Development Direction - The company is prioritizing profitability and disciplined growth, aiming for break-even by the end of 2026 [4][8] - A solutions-first strategy is being adopted to enhance workflow ownership and drive sustainable revenue growth [18][19] - The focus is on expanding into ocean and tendering markets, which are expected to provide significant long-term upside [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving adjusted EBITDA break-even by Q4 2026, driven by operational discipline and cost efficiency [27] - The board emphasized the importance of digitalizing the global freight ecosystem and enhancing governance and leadership for future success [5][6] Other Important Information - The company closed the quarter with $27.9 million in cash and short-term bank deposits, slightly better than expectations [26] - The transition from a founder-led to a professional CEO-led organization is ongoing, with a new CEO expected to be appointed before the next earnings release [7] Q&A Session Questions and Answers Question: Changes in go-to-market strategy - The go-to-market change is not drastic but focuses on customer-led initiatives and prioritizing projects with better returns [30] Question: Changes in headcount or operational changes - The focus is on targeting higher-value clients and improving overall execution in the go-to-market strategy [31] Question: Take rate trends - The take rate is considered quarterly noise, with no decrease in any revenue lines [32] Question: Deployment of large language models - The company is pursuing an AI strategy to enhance operational efficiencies and leverage its API-driven architecture [34][35] Question: Plans for improving unit economics - The focus is on prioritizing projects that yield better returns and expanding network capabilities [41] Question: Confidence in achieving EBITDA breakeven - The company remains committed to achieving adjusted EBITDA breakeven by Q4 2026 [48] Question: Gap between transaction growth and revenue guidance - The gap is attributed to the volatility in the solutions revenue business and longer sales cycles affecting new bookings [50][51] Question: Governance transition and board changes - The decision for a board member to step down was not planned and reflects a broader leadership change [52] Question: Timeline for GAAP profitability - The company aims to reach adjusted breakeven by the end of the year, with GAAP profitability expected to follow [54]

Core Viewpoint - Expeditors International (EXPD) is expected to report a decline in quarterly earnings and revenues, with earnings per share projected at $1.46, down 13.1% year-over-year, and revenues forecasted at $2.8 billion, reflecting a decrease of 5.3% compared to the same period last year [1]. Earnings Estimates - There has been no revision in the consensus EPS estimate for the quarter over the last 30 days, indicating that analysts have not changed their initial forecasts during this period [2]. - Revisions to earnings estimates are crucial for predicting investor actions regarding the stock, as empirical research shows a strong correlation between earnings estimate trends and short-term stock price performance [3]. Revenue Projections - Analysts project 'Revenues- Airfreight services' to reach $1.04 billion, indicating a year-over-year decline of 2.6% [5]. - The estimate for 'Revenues- Ocean freight and ocean services' is set at $687.50 million, reflecting a significant decrease of 24.3% from the prior-year quarter [5]. - 'Revenues- Customs brokerage and other services' are forecasted to reach $1.07 billion, showing an increase of 8.6% from the year-ago quarter [5]. Net Revenue Estimates - 'Net revenues- Airfreight services' are expected to be $252.72 million, indicating a slight decline of 0.7% from the year-ago quarter [6]. - Analysts estimate 'Net revenues- Customs brokerage and other services' to reach $485.71 million, reflecting a year-over-year increase of 7.3% [6]. - 'Net revenues- Ocean freight and ocean services' are projected at $184.94 million, indicating a year-over-year decline of 18.7% [7]. Stock Performance - Shares of Expeditors International have shown a return of -8% over the past month, compared to a -0.8% change in the Zacks S&P 500 composite [7]. - With a Zacks Rank of 3 (Hold), EXPD is expected to perform in line with the overall market in the near future [7].

The owners of AIT Worldwide Logistics, a top 30 freight forwarder in the United States, have sold a majority stake to Greenbriar Equity Group to help fuel its aggressive expansion. The company’s 2030 strategy calls for accelerated growth on an organic basis and through acquisitions. The deal allows The Jordan Company, L.P., a middle-market financial firm with a background in transportation and logistics investments, to cash in on its 2021 acquisition of AIT Worldwide from another investment firm. The Jord ...

Core Insights - AIT Worldwide Logistics has formed a partnership with Greenbriar Equity Group to support continuity and accelerate the next phase of the company's growth plans [1] Company Summary - The partnership aims to enhance AIT Worldwide Logistics' operational capabilities and strategic initiatives [1] - This collaboration is expected to facilitate the company's expansion and development in the logistics sector [1]

Core Insights - Allstates WorldCargo has acquired Promptus, a freight forwarder, enhancing its customs brokerage capabilities and service offerings [1][2] Group 1: Acquisition Details - The acquisition of Promptus, a 3PL focused on Latin America, Asia, Europe, and Caribbean trade lanes, allows Allstates WorldCargo to provide in-house customs clearance and compliance services [1] - The financial terms of the acquisition remain undisclosed [1] Group 2: Strategic Implications - This acquisition positions Allstates WorldCargo to offer seamless solutions for global customers, improving control over customs brokerage services and enhancing service reliability [2] - The integration of the Promptus team into Allstates WorldCargo's U.S. operations is expected to improve coordination and visibility [2] Group 3: Company Background - Allstates WorldCargo is based in Orlando, Florida, and operates over 25 locations across the U.S., providing air and ocean freight forwarding, warehousing, and ground transportation [3] - The company previously acquired Saturn Freight Systems, indicating a strategy of growth through acquisitions [3]

Core Insights - The company is experiencing short-term headwinds but has a long-term growth trajectory supported by increasing volumes and diverse revenue streams [3][2] - Broker margins may face pressure due to rising spot rates, but seasonal patterns and a shift towards airfreight and parcel services could help maintain margins [1] Company Overview - Expeditors International of Washington, Inc. (NYSE:EXPD) offers a range of global logistics services, including air and ocean freight forwarding, customs brokerage, and warehousing [3] - The company has a history of increasing dividends for 31 consecutive years, indicating a commitment to returning value to shareholders [2] Market Conditions - Management is cautious about market conditions, noting that ocean rates could decline if Red Sea trade routes stabilize, while geopolitical and labor risks persist [2] - Despite potential risks such as recessions and global trade disruptions, the company is focused on expanding its operations and tightening its operational efficiency [2] Industry Trends - Peak season volumes are aligning with normal seasonal patterns, which may support margins in airfreight and parcel sectors [1] - The logistics industry is expected to see a continuation of the trend of increasing volumes, which has historically supported revenue growth [3]

As filed with the U.S. Securities and Exchange Commission on February 2, 2026. Registration No. 333-291040 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 2 To FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 CGL LOGISTICS HOLDINGS LIMITED (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classifi ...

Group 1 - The article discusses expectations for the markets in 2026, emphasizing the importance of analyzing the previous year to make informed predictions [1] - The author highlights their extensive experience in the freight forwarding industry, which provides insights into market behavior and investment psychology [1] - The article suggests a contrarian approach to investing, focusing on thorough due diligence to uncover valuable investment opportunities [1]