The company faces market risks from fluctuating foreign exchange rates, particularly the Chinese Yuan, Indian Rupee, Euro, Mexican Peso, Canadian Dollar, and British Pound. Increased inflation globally impacts labor costs, service provider rates, and other expenses, potentially eroding margins. Uninsured losses from events like floods, earthquakes, or pandemics, or losses exceeding insurance limits, could significantly impact operations. Material weaknesses in internal controls over financial reporting, specifically IT general controls, pose a risk of inaccurate financial reporting and investor confidence.

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Strong demand for ocean transportation, driven by importers anticipating port disruptions, resulted in higher volumes and increased rates. High demand for airfreight from Asia, due to capacity constraints and e-commerce, also led to revenue growth. Increased volumes and rates in all services contributed to a 40% increase in operating income year-over-year in Q3 2024. The company repurchased $140 million in common stock.

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