US freight forwarder Expeditors reported improvements in both airfreight volumes and revenues in the first quarter of 2025 despite an unpredictable marketplace.
The company saw airfreight revenues increase by 18.7% year on year in the first quarter to $901.8m, while airfreight tonnage improved by 9% compared with a year earlier.
Expeditors said its performance was boosted by companies front-loading shipments ahead of the introduction of tariffs by Washington, while buy and sell rates also increased.
The technology sector was one of the standout performers during the quarter, it added. Air capacity during the period remained tight due to e‑commerce export demand from North Asia and ongoing re-sourcing to South Asia and India.
President and chief executive Daniel Wall said the outlook for the market was unpredictable.
”While we currently expect air capacity and rates to remain volatile, it is too early to predict what impact an end to the de minimis exemption may have on air capacity and rates going forward, as there are other economic and geopolitical unknowns to consider.”
He added: ”We believe that uncertainty is likely to continue for some time, with possibly significant impacts to our industry. We also remain optimistic that trade will continue to flow, and we will work closely with our customers to find solutions to keep their cargo moving."
Wall also paid tribute to his staff for their efforts during a chaotic first quarter of the year.
"I especially want to thank our brokerage teams for maximising their efforts and all of their additional work to address the frenzied landscape of tariffs, threats of tariffs, shifting geopolitics, and other disruptions that have had shippers around the world rapidly re-evaluating the risks to their supply chains.
"While we often have performed well when the marketplace is most unpredictable, I am not sure any of us have ever seen anything like the non-stop, rapidly shifting rules and regulations that have impacted our industry in recent days."
The overall company saw revenues increase 21% year on year to $2.7bn, while operating income was up 24% to $265.9m and net earnings attributable to shareholders increased by 20% to $203.8m.
