C.H. Robinson Worldwide (CHRW) reported $4.41 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.3%. EPS of $0.86 for the same period compares to $0.98 a year ago.The reported revenue represents a surprise of +4.83% over the Zacks Consensus Estimate of $4.21 billion. With the consensus EPS estimate being $0.60, the EPS surprise was +43.33%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...

C.H. Robinson Worldwide (CHRW) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 43.33%. A quarter ago, it was expected that this trucking company would post earnings of $0.80 per share when it actually produced earnings of $0.50, delivering a surprise of -37.50%.Over the last four quar ...

Financial Performance - Adjusted gross profits decreased 4.1% to $657.7 million, primarily driven by lower adjusted gross profit per transaction in truckload[14]. - Total revenues decreased 4.3% to $4.4 billion, primarily due to lower pricing in truckload services[25]. - Income from operations decreased 21.1% year-over-year to $127.1 million[11]. - Diluted earnings per share (EPS) decreased 18.8% to $0.78, while adjusted EPS decreased 14.0% to $0.86[16][22]. - Net income for the quarter was $92,904, representing a 19.1% decrease from $114,891 in the same quarter of 2023[42]. - Adjusted income from operations was $140,076, down 15.0% from $164,755 in the prior year[42]. - Adjusted operating margin was 19.3%, a decline of 420 basis points from 23.5% in the previous year[42]. Revenue Breakdown - NAST segment total revenues for the first quarter were $3.0 billion, a decrease of 9.2% year-over-year[18]. - Transportation revenues decreased by 5.7% to $4,082,588, while sourcing revenues increased by 16.2% to $329,723[42]. - Total revenues for the three months ended March 31, 2024, were $4,412,311, a decrease of 4.3% compared to $4,611,670 in the same period of 2023[42]. - Total revenues for the Global Forwarding segment were $3,000,313 for the three months ended March 31, 2024[67]. - Total revenues for the three months ended March 31, 2024, were $4,412,311, an increase of 8.7% compared to $4,061,670 for the same period in 2023[54]. Operating Expenses and Cash Flow - Operating expenses increased 1.1% to $530.6 million, with personnel expenses decreasing 1.0%[26]. - Cash used by operations totaled $33.3 million, a significant decline from $254.5 million generated in the first quarter of 2023[49]. - The company reported a net cash used for operating activities of $(33,323) for the three months ended March 31, 2024, compared to $254,544 in the same period last year[65]. Shareholder Returns - Cash returned to shareholders totaled $90.7 million, including $74.6 million in cash dividends and $16.1 million in stock repurchases[5]. Tax and Liabilities - The effective tax rate increased to 15.8%, up from 13.5% in the prior year[27]. - Current liabilities increased to $2,274,286 as of March 31, 2024, from $2,051,993 at the end of the previous year[58]. Capital Expenditures and Assets - Capital expenditures for the quarter were $22.5 million, with expectations for 2024 to be between $85 million and $95 million[50]. - Total assets as of March 31, 2024, amounted to $5,472,088, an increase from $5,225,280 as of December 31, 2023[58]. Employee Metrics - Average employee headcount for the three months ended March 31, 2024, was 14,990, compared to 16,902 in the same period last year[67]. Strategic Initiatives - The company is implementing a new Lean-based operating model to improve execution and accountability[12][13]. Market Risks - The company continues to face risks related to economic conditions, competition, and regulatory changes that could impact future performance[52].

C.H. Robinson Worldwide (CHRW) is scheduled to report first-quarter 2024 results on May 1, after market close.C.H. Robinson lagged the Zacks Consensus Estimate in two of the preceding four quarters, the average miss being 9.51%. CHRW has outpaced the Zacks Consensus Estimate in one of the remaining quarters and met the mark in another quarter.Let’s see how things have shaped up for C.H. Robinson this earnings season.Q1 ExpectationsThe Zacks Consensus Estimate for C.H. Robinson’s first-quarter 2024 revenues ...

C.H. Robinson Worldwide’s (CHRW) top line suffers from lower pricing in ocean and truckload services amid ongoing challenges in a soft freight market. Increased competition, driven by weak demand, high inventories and excess capacity, further affects transportation rates.Let’s delve deeper.Southward Earnings Estimate Revision: The Zacks Consensus Estimate for current-quarter earnings has been revised 4.71% downward over the past 60 days. For the current year, the consensus mark for earnings has moved 0.89% ...

C.H. Robinson (CHRW) is currently grappling with a host of intricate challenges, a scenario that we believe has significantly diminished its attractiveness as an investment opportunity.Let’s delve deeper.Southward Earnings Estimate Revision: The Zacks Consensus Estimate for current-quarter earnings has been revised 22.6% downward over the past 60 days. For the current year, the consensus mark for earnings has moved 13.4% south in the same time frame. The unfavorable estimate revisions indicate brokers’ lack ...

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW), a leading global logistics provider, today announced that the Board of Directors, upon recommendation of the Governance Committee, has nominated new directors, Michael McGarry and Paige Robbins, to stand for election to the Board at the company’s 2024 annual meeting of stockholders. The company also announced that Scott Anderson and James Stake have each decided not to stand for re-election to the Board of ...

It has been about a month since the last earnings report for C.H. Robinson Worldwide (CHRW) . Shares have added about 0.8% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is C.H. Robinson due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. C.H. Robinson Q4 Earnings Lag E ...

Financial Performance - Total revenue for 2023 was $2,486,636, a decrease of 28.6% from $3,480,669 in 2022[34] - Truckload revenue was $1,039,079 in 2023, down 33.4% from $1,561,310 in 2022[34] - LTL revenue decreased to $550,373 in 2023 from $632,116 in 2022, a decline of 12.9%[34] - Ocean transportation revenue fell to $420,883 in 2023, down 42.3% from $729,839 in 2022[34] - Air transportation revenue decreased to $123,470 in 2023, a drop of 37.6% from $198,166 in 2022[34] - C.H. Robinson reported consolidated total revenues of $17.6 billion for the fiscal year 2023[114] - Total revenues for the twelve months ended December 31, 2023, were $2,997,704, a decrease of 56.0% compared to $6,812,008 in 2022[163] - Total costs and expenses for the same period were $2,911,874, down 54.2% from $6,362,644 in 2022[163] - Income from operations decreased by 80.9% to $85,830 in 2023 from $449,364 in 2022[163] Operational Metrics - The company processed approximately 19 million shipments in 2023, managing $22 billion of freight[96] - C.H. Robinson executed approximately 19 million shipments for over 90,000 customers using more than 450,000 contracted carriers[105] - In 2023, the largest truck transportation provider accounted for less than 1% of the total transportation costs, with contracted motor carriers having fewer than 100 trucks transporting approximately 74% of truckload shipments[125] Sustainability and Social Responsibility - The company is committed to sustainability, offering tools like Emissions IQ™ to help customers reduce carbon emissions[53] - The company has a commitment to reducing its environmental footprint and supports sustainability efforts in the logistics industry[76] - The company reduced its Scope 1 and 2 carbon intensity by 47% by 2023, exceeding its goal of a 40% reduction by 2025[158] - C.H. Robinson's sustainability efforts include collaborations with non-profit and academic institutions to advance innovation in the transportation industry[138] - The company contributed $3.6 million to approximately 1,000 charities in 2023[75] Technology and Innovation - The company emphasizes integrated logistics solutions, managing a greater portion of customer supply chains[33] - Navisphere, the company's multimodal transportation management system, enhances supply chain performance through data-driven tools[39] - C.H. Robinson's technology platform, Navisphere, is essential for managing logistics and supply chain operations[105] - The company offers Managed TMS services, combining logistics expertise with its global technology platform[116] - C.H. Robinson has approximately 900 data scientists, engineers, and developers focused on technology and analytics to enhance supply chain solutions[121] Workforce and Diversity - The employee turnover ratio for the year ended December 31, 2023, was 24%, with a voluntary turnover rate of 13%, a decline of 2 percentage points from 2022[152] - Women represent 48% of the workforce, with 31% in leadership positions as of December 31, 2023[146] - C.H. Robinson's leadership development programs target high-potential employees, including women and employees of color[72] - The company aims to increase compensation transparency to align pay with performance and support career path visibility for employees[156] - The engagement survey in 2023 yielded a score of 77%, indicating a slight decline from previous years, with strengths in manager capabilities and understanding of customer needs[153] Financial Position - Cash and cash equivalents totaled $145.5 million as of December 31, 2023, down from $217.5 million in 2022[167] - Working capital increased significantly from $266.4 million at December 31, 2022, to $828.7 million at December 31, 2023[167] - Total assets decreased from $5,954,564 in 2022 to $5,225,280 in 2023, a decline of approximately 12.3%[1] - Current liabilities decreased from $3,322,852 in 2022 to $2,051,993 in 2023, a reduction of about 38.3%[1] - Total liabilities decreased from $4,601,142 in 2022 to $3,806,583 in 2023, a reduction of about 17.3%[1] - Long-term debt increased from $920,049 in 2022 to $1,420,487 in 2023, an increase of approximately 54.5%[1] - The fair value of the company's Senior Notes was approximately $315.7 million as of December 31, 2023[181] Management and Governance - Michael P. Zechmeister, the Chief Financial Officer, plans to retire by May 31, 2024[80] - C.H. Robinson Worldwide, Inc. maintained effective internal control over financial reporting as of December 31, 2023[218] Services Offered - The company operates a global network providing transportation services and logistics solutions across multiple regions including North America, Europe, Asia, Oceania, South America, and the Middle East[224] - The company offers value-added logistics services such as customs brokerage, managed services, warehousing, and supply chain consulting, with pricing based on customer contracts[225] - Accrued transportation expenses represent amounts owed to vendors for services provided while shipments are in transit as of the reporting date[227] - Revenue recognized for services provided while shipments were still in transit amounted to $189.9 million as of December 31, 2023[215] - The allowance for expected credit losses is determined based on past credit loss experience, customer credit risk ratings, and macroeconomic factors[227]

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW) announced that its Board of Directors today declared a regular quarterly cash dividend of 61 cents ($0.61) per share, payable on April 1, 2024, to shareholders of record on March 1, 2024. C.H. Robinson has distributed uninterrupted dividends that have increased annually on a per share basis for twenty-five years. As of February 6, 2024, there were approximately 116,865,085 shares outstanding. About C.H. Ro ...