Total Revenue

+21% (from $2.207B in Q1 2024 to $2.666B in Q1 2025)

The 21% growth in Total Revenue is driven by higher volumes and improved rate structures across key segments compared to Q1 2024. This improvement builds on last year’s performance by leveraging increased demand and higher average sell rates, particularly in segments like Airfreight, which saw robust increases in previous periods. " "

Operating Income

+24% (from $214.78M in Q1 2024 to $265.86M in Q1 2025)

The 24% increase in Operating Income reflects enhanced operational efficiency and a more favorable revenue mix. Cost management and higher-margin revenue segments contributed to better earnings performance over the previous period, building on the improvements seen in Q1 2024. " "

Net Earnings

+20% (from $170.40M in Q1 2024 to $204.10M in Q1 2025)

The nearly 20% rise in Net Earnings is a consequence of the combined effect of higher overall revenues and operating leverage benefits. The continuity of strong revenue growth and margin improvements from Q1 2024 carried forward, reflecting a positive trend in profitability. " "

South Asia Revenue

+60% (from $227.72M in Q1 2024 to $364.58M in Q1 2025)

A surge of 60% in South Asia revenues showcases significant regional growth driven by increased tonnage and stronger sell/buy rate dynamics. This improvement builds on prior period gains where elevated airfreight demand and market shifts—possibly due to geopolitical factors and manufacturing relocations—began to take effect. " "

Latin America Revenue

+40%

The 40% increase in Latin America revenues indicates robust regional demand and operational improvements. While specific catalysts are not detailed, this gain appears to continue the upward trend observed previously, benefiting from market revitalization and successful regional initiatives. " "

Airfreight Services Revenue

+19% (from $759.37M in Q1 2024 to $901.76M in Q1 2025)

The 19% rise in Airfreight Services revenue is primarily due to increased tonnage and higher average sell rates, reinforcing the strong demand seen in Q1 2024. This segment benefited from capacity constraints and proactive rate adjustments, which were also the key drivers in previous periods, making the improvement a continuation of established trends. " "