C.H. Robinson’s 1Q Profit Slips

C.H. Robinson Worldwide said its first-quarter net income fell slightly from a year ago on slower growth, though revenue improved.

Its net income slipped to $103.3 million, or 64 cents a share, from $106.5 million, or 65 cents, a year ago.

Total revenue jumped 17.3% to $3 billion, the transportation and third-party logistics company said late Tuesday.

Overall transportation revenue increased 14.7% to $421.3 million, led by truckload revenue, which rose 1.9% to $268.6 million. Less-than-truckload revenue jumped 12.9% to $58.5 million.

Ocean services revenue more than tripled to $42.5 million, intermodal revenue slipped 6.3% to $9.1 million and air revenue almost doubled to $16.8 million.

Customs revenue tripled to $8.6 million and other logistics services, including transportation management, rose 22.3% to $17.2 million.

C.H. Robinson is ranked No. 5 on the Transport Topics Logistics 50 listing of North American logistics firms.