Freight-forwarder Expeditors International reported a 13% growth in revenues for the second quarter vs. a year earlier, which was 4% better than expected. Ocean freight handling staged a comeback in June, with a 4% rise for the quarter overall while airfreight climbed 9%. However, average charges per unit (excluding purchased services) fell 3% for ocean freight and 13% for airfreight. That may explain the 5% drop in the company’s stock price. Management nonetheless have an upbeat outlook, and the company’s quarter was the best of the five forwarders Panjiva tracks. Average forwarder reve...
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