Expeditors Q1 2026: Air Freight growth drives revenue

Global logistics company Expeditors has reported its financial results for the first quarter of 2026, highlighting a 5% increase in air freight tonnage, alongside an 11% rise in operating income to $295 million and a 4% growth in revenue to $2.8 billion.

The quarterly increase in air freight tonnage reflects month-on-month changes: volumes rose by 7% in January 2026, remained steady at 7% in February, and eased to 3% in March, resulting in an overall 5% increase for the quarter.

In terms of revenue, air freight services generated $1.03 billion in 2026, up from $0.90 billion in 2025, contributing to total revenue growth from $2.7 billion to $2.8 billion. Meanwhile, air freight operating expenses rose to $0.77 billion in 2026, compared with $0.65 billion in the previous year.

These quarterly results reflect consolidated performance across key regions, including the United States, North America, Latin America, North Asia, South Asia, Europe, the Middle East, India, and Africa.

Daniel R. Wall, President and CEO of Expeditors, commented on air freight performance: “Air freight gross margins increased sequentially from the fourth quarter of 2025 on higher per-kilo profitability, driven by higher rates and a more stable balance between sell and buy pricing during the first two months of the quarter, as air capacity remained less constrained until the Middle East conflict began. Airfreight tonnage also increased compared to the first quarter of 2025, supported by strong demand from technology customers. We remained agile and focused on risk management while managing buy and sell rates during this dynamic period.”