Expeditors International of Washington Inc. (EXPD) on Tuesday said its board has authorized a new share repurchase program of up to $3 billion of the company's common stock.
The authorization will take effect after the expiration of the company's current buyback program, which allows repurchases down to 130 million outstanding shares and was approved in February 2024.
The logistics company said its capital deployment strategy prioritizes investment in organic growth initiatives, but strong operating cash flow and a capital-efficient business model are expected to generate significant excess cash.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.