-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：EXPD第一季度业绩强劲，每股收益（EPS）为1.71美元，高于去年同期的1.47美元，显著超出我们1.37美元的预期和1.33美元的市场普遍预期。营收增长4%至27亿美元，高于去年同期的26.7亿美元，也超过了我们25.9亿美元的预期，空运和海关业务的强劲表现抵消了海运业务的疲软。各业务板块表现不一，反映了市场分化：空运业务营收在有利定价的推动下飙升14%至10.3亿美元，而海运业务营收则因运力过剩导致价格和货运量双双承压，暴跌23%至5.99亿美元。管理层预计，尽管海运业务盈利能力将保持稳定，但全球运力过剩的局面在短期内仍将持续。海关/其他业务收入增长17%至11.5亿美元，所有产品均实现两位数增长，这主要得益于超大规模数据中心和高价值技术客户的需求以及关税的复杂性。尽管受到中东地区业务中断的影响，但公司营业利润率仍达到30%的目标，这得益于2025年人工智能和技术投资带来的生产力提升开始显现成效。
Related Articles
Asia
RBNZ Press Conference: Unemployment Numbers in Line With What RBNZ Expected From a Financial Stability Perspective
$^NZ50
International
Philippines' Unemployment Rate Eases to 5.0% in March
$^PSEi
Research
Research Alert: CFRA Maintained Buy Rating On Suncor Energy Inc. As Free Funds Flows Grows 53%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our 4-STARS (Buy) rating and boost our target price to CAD103. This reflects a 8.0x EBITDA multiple and 18.0x earnings multiple based on our 2027 projections. We increased the EBITDA multiple in tandem with the industry multiple to reflect superior operational execution. The story is largely unchanged since the 2026 Investor Day, as Q1 proved to be another strong quarter of cash flow generation and value return. Upstream production reached 875.2k bbl/d, up 2.6% Y/Y. Refining throughput reached 497.8k bbl/d at 97% utilization, while refined product sales increased 13% to 680.9k bbl/d. Free funds flow grew 53% to CAD2.91B. The company returned CAD1.54B to shareholders through CAD825M in share repurchases and over CAD700M in dividends. We maintained our 2026 and 2027 EPS forecasts of CAD6.97 and CAD5.39, respectively.
$SU