C.H. Robinson’s 3Q Earnings Decline
C.H. Robinson Worldwide Inc. reported third-quarter earnings fell 7.4% to $107.7 million, or 69 cents per share, from $116.3 million, or 72 cents per share a year ago, in the truckload segment.
Revenue increased 15% to $3.32 billion, a reflection of two acquisitions since last year’s third quarter, the Eden Prairie, Minn.-based brokerage and logistics company reported. Truckload is the company's largest business.
Net revenue fell 1.3% to $265.5 million in the truckload business as expenses to arrange truckload shipments rose 4% on average and revenue increased at only 2%. That total represented almost 60% of profits before operating expenses and taxes.
Profitability improved in the ocean, air and customs brokerage businesses as a result of the acquisitions.
C.H. Robinson is ranked No. 5 on the Transport Topics Logistics Top 50 listing of North American logistics firms.
