EXPEDITORS INTERNATIONAL OF WASHINGTON Business Summary

Expeditors International of Washington Inc. (EXPD) operates as a premier non-asset-based third-party logistics (3PL) provider, generating revenue through transaction-based fees for global freight forwarding and supply chain management. The company maintains a capital-efficient business model by leveraging a global network of third-party carriers rather than owning aircraft or vessels. Its operations are categorized into three primary segments: Airfreight Services (36% of 2025 revenue), which focuses on time-sensitive cargo consolidation; Customs Brokerage and Other Services (39%), providing regulatory compliance and value-added warehousing; and Ocean Freight and Ocean Services (25%), managing large-scale maritime shipments. Within the competitive landscape, Expeditors competes directly with global giants such as Kuehne + Nagel, DHL Global Forwarding, DSV, and C.H. Robinson, distinguishing itself through a debt-free balance sheet, a decentralized entrepreneurial culture, and a highly integrated proprietary IT infrastructure. Founded in 1979 by a team including Peter Rose, James Wang, and Glenn Alger, the company is currently led by President and CEO Daniel R. Wall, a veteran executive who assumed the role in April 2025 after serving as President of Global Geographies and Operations. The leadership team includes Senior VP and CFO David A. Hackett, who oversees the firm’s disciplined capital deployment and dividend aristocrat status, and Senior VP and CIO Courtney Hawkins, who directs the company's strategic investments in artificial intelligence and digital supply chain visibility. The Board of Directors is chaired by Robert P. Carlile, a former KPMG partner, and includes co-founder Glenn M. Alger and Lead Independent Director Liane J. Pelletier. As a publicly traded S&P 500 company, Expeditors is characterized by its high internal promotion rate and a leadership pedigree deeply rooted in organic growth and operational efficiency.