C.H. Robinson Reports Higher 3Q Earnings

C.H. Robinson Worldwide Inc. said its third-quarter net income climbed 16% from a year ago, supported by higher truckload rates and increased less-than-truckload shipments.

The third-party logistics provider said net income increased to $125 million, or 85 cents per share, from $107.7 million, or 69 cents, a year earlier.

Revenue rose 4.5% to $3.47 billion, while net revenue grew 13.9% to $527.6 million.

Truckload net revenue climbed 15.8% to $307.4 million as truckload volumes edged up about 1%.

The company said its average truckload rate per mile charged to customers increased about 10% year-over-year, while costs rose about 8%, excluding fuel.

LTL net revenue increased 10.6% to $68 million, driven by a 7% increase in shipments and higher customer pricing, partially offset by higher costs.

The company also posted net revenue growth in its smaller ocean, air, customs and intermodal businesses.

C.H. Robinson ranks No. 6 on the Transport Topics Top 50 list of the largest logistics companies in North America, based on net revenue.