Revenue and Profit Decline - Total revenues decreased 32.3% to $4.6 billion, driven primarily by lower ocean and truckload pricing[113] - Adjusted gross profits decreased 24.3% to $685.6 million, primarily driven by lower adjusted gross profits per transaction in ocean and truckload[113] - Income from operations decreased 53.4% to $161.0 million, driven by decreased adjusted gross profits, partially offset by the decline in operating expenses[118] - Adjusted operating margin of 23.5% declined 1,460 basis points[118] - Net income totaled $114.9 million, down 57.5% from a year ago[120] - Diluted earnings per share (EPS) decreased 53.2% to $0.96[120] - NAST total revenues decreased by 19.7% to $3,304,187 in Q1 2023 compared to $4,114,889 in Q1 2022[129] - NAST adjusted gross profits decreased by 15.7% to $426,655 in Q1 2023, with Truckload adjusted gross profits down 21.9% and LTL down 9.1%[129] - Global Forwarding total revenues decreased by 64.0% to $789,978 in Q1 2023, with Ocean adjusted gross profits down 50.3% and Air down 49.0%[139] Cost and Expense Management - Personnel expenses decreased 7.3% to $383.1 million, primarily due to cost optimization efforts, including lower average employee headcount, which decreased 2.1%[114] - Average employee headcount decreased by 6.5% to 6,870 in Q1 2023 compared to 7,348 in Q1 2022[129] - Global Forwarding average employee headcount decreased by 2.5% to 5,471 in Q1 2023 compared to 5,610 in Q1 2022[139] Transportation and Logistics Performance - Ocean volumes decreased 14.5% while air freight tonnage decreased 18.5%[112] - The average truckload linehaul cost per mile, excluding fuel surcharges, decreased approximately 28.5% during the first quarter of 2023[111] - NAST truckload linehaul rate per mile decreased by 27.5% in Q1 2023 compared to Q1 2022, while truckload linehaul cost per mile decreased by 28.5%[136] Cash Flow and Financial Position - Cash flow from operations improved $268.5 million in the three months ended March 31, 2023 driven by changes in operating working capital[120] - Cash provided by operating activities in Q1 2023 was $254.544 million, compared to a net use of $13.928 million in Q1 2022, representing a significant improvement[147] - Cash used for investing activities in Q1 2023 was $26.95 million, a 12.4% increase from $23.979 million in Q1 2022[147] - Cash used for financing activities in Q1 2023 was $205.992 million, compared to $21.77 million provided in Q1 2022[147] - Net change in cash and cash equivalents in Q1 2023 was $21.678 million, compared to a net decrease of $14.604 million in Q1 2022[147] - The company expects available cash, future cash from operations, and credit facilities to be sufficient for working capital, capital expenditures, and cash dividends for at least the next 12 months[150] Debt and Capital Management - Total debt as of March 31, 2023, was $1,873,031, with a borrowing capacity of $3,100,000 across various debt facilities[144] - Net payments on debt in Q1 2023 were used to reduce the current portion of outstanding debt, with potential impacts on future share repurchases[149] Tax and Accounting - Effective income tax rate for Q1 2023 was 13.5%, down from 18.4% in Q1 2022, primarily due to tax benefits from share-based payment awards and U.S. tax credits[127] - No material changes to critical accounting policies and estimates as of March 31, 2023[154] - No material changes in market risk as of March 31, 2023 compared to the 2022 Annual Report[155] Segment Performance - Robinson Fresh adjusted gross profits increased due to integrated supply chain solutions for foodservice and retail customers[143]

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Q1 2023 Earnings Conference Call April 26, 2023 5:00 PM ET Company Participants Chuck Ives - Director, IR Scott Anderson - Interim CEO Mike Zechmeister - CFO Arun Rajan - COO Conference Call Participants Jack Atkins - Stephens Stephanie Moore - Jefferies Jason Seidl - TD Cowen David Zazula - Barclays Chris Wetherbee - Citigroup Bruce Chan - Stifel Jordan Alliger - Goldman Sachs David Vernon - Bernstein Ken Hoexter - Bank of America Operator Good afternoon, ladies ...

| --- | --- | --- | --- | --- | --- | --- | |----------|-------|-----------------------|-------|-------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Scott Anderson, Interim CEO Arun Rajan, Chief Operating Officer Mike Zechmeister, Chief Financial Officer Chuck Ives, Director of Investor Relations | | Q1 2023 | | | | | | | | 26, 2023 ...

Table of contents Operating expenses. Personnel expenses increased primarily due to an increase in salaries and incentive compensation driven by an increase in average employee headcount. These increases were partially offset by a reduction in stock-based compensation expense as the prior year included significant stock-based compensation expense on performance-based equity awards granted prior to 2021. Other SG&A expenses increased primarily due to increases in purchased and contracted services, legal sett ...

■ As the cost and price of purchased transportation (inclusive of fuel surcharges) comes down, we expect a commensurate benefit to net operating working capital and operating cash flow. $68 $154 $507 million of cash returned to shareholders in Q4 2022, up 128% 14 Q4 2022 Transportation Results(1) 1. Includes results across all segments. Three Months Ended December 31 Twelve Months Ended December 31, Three Months Ended December 31 Twelve Months Ended December 31 Three Months Ended December 31 Twelve Months E ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number: 000-23189 C.H. ROBINSON WORLDWIDE, INC. (Exact name of registrant as specified in its charter) Delaware 41-1883630 (State o ...

Financial Data and Key Metrics Changes - The company's Q3 total adjusted gross profit (AGP) increased by $43 million or 5% year-over-year, with growth in North American Surface Transportation (NAST) partially offset by a decline in Global Forwarding [30] - Q3 net income was $225.8 million, down 8.6% compared to Q3 last year, and diluted earnings per share were $1.78, down 4% year-over-year [36] - Q3 cash flow generated by operations reached a record $625.5 million, a significant improvement from a cash outflow of $73.5 million in Q3 of 2021 [37] Business Line Data and Key Metrics Changes - In the NAST Truckload business, year-over-year volume growth was 0.5%, with a mix of 65% contractual volume and 35% transactional volume [9][11] - The adjusted gross profit per shipment in NAST Truckload increased by 20.5% year-over-year, although it declined 15% sequentially from the previous quarter [10] - The NAST LTL business generated quarterly AGP of $161 million, up 23% year-over-year, driven by a 24.5% increase in AGP per order despite a 1.5% decline in volume [15] - Global Forwarding AGP decreased by 20% year-over-year to $248.4 million, with ocean forwarding AGP declining by 26% [16][17] Market Data and Key Metrics Changes - The routing guide depth of tender in managed services declined from 1.4 in Q2 to 1.3 in Q3, indicating a softening freight environment [12] - The national drive-in load-to-truck ratio declined throughout October, with the latest reading at approximately 2.6:1 [12] - The average truckload linehaul costs paid to carriers, excluding fuel, declined by approximately 17% year-over-year [13] Company Strategy and Development Direction - The company is focusing on digital transformation and cost reduction, expecting to generate $175 million in gross cost savings by Q4 2023, with net annualized cost reductions of $150 million anticipated [7][43] - The strategy includes expanding capabilities in key industry verticals and diversifying trade lanes to reduce reliance on specific markets [21][22] - The company aims to maintain a competitive edge through a non-asset-based business model and a focus on customer and carrier needs [45][46] Management's Comments on Operating Environment and Future Outlook - Management noted a deceleration in demand and a cooling freight market, with expectations for more normalized rates and fewer disruptions [5][6] - The company anticipates that inflation and other headwinds will result in net cost headwinds of $25 million in 2023, which will be partially offset by gross savings [7] - Management expressed confidence in the company's ability to deliver strong financial results despite economic pressures, emphasizing the importance of evolving the organization to focus on strategic priorities [45][46] Other Important Information - The company ended Q3 with approximately $1.1 billion in liquidity and a debt balance of $2.2 billion, reflecting an increase due to share repurchases [42] - Capital expenditures in Q3 were $31.3 million, with expectations to be at the high end of previous guidance for the year [39] Q&A Session Summary Question: Cost savings expectations for 2023 - Management indicated that cost reductions will primarily come from personnel and SG&A, with a focus on digitization efforts to drive efficiency [50][51][52] Question: Spot pricing in the Truckload sector - Management noted that the spot market is currently seeing a deceleration in pricing, with expectations for a cost floor around April-May 2023 [56] Question: Contract market conditions - Management explained that the AGP per truckload shipment in the contract business remains strong, but spot market volume has been pursued aggressively, impacting overall margins [61] Question: Legal settlements impact on SG&A - Management clarified that legal settlements represented about one-third of the increase in SG&A expenses for Q3, impacting the NAST business [62] Question: Forwarding business headcount increase - Management acknowledged that headcount in the forwarding segment was increased in anticipation of opportunities, despite a cautious market outlook [64] Question: Strategic portfolio review - Management emphasized the importance of continually reviewing the business portfolio to create long-term shareholder value, with no specific updates on monetizing non-core assets [65]

August 2022 Investor Presentation ©2022 C.H. ©2022 C.H. Robinson Robinson Worldwide, Worldwide, Inc. All rights reserved. reserved. | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

| --- | --- | --- | --- | --- | |----------|-------|-----------------------|-------|---------------------------------------------------------------------------------------| | | | | | | | | | | | | | Q2 2022 | | | | Bob Biesterfeld, CEO Arun Rajan, CPO Mike Zechmeister, CFO Chuck Ives, Director of IR | | 27, 2022 | | Earnings Presentation | | | 1 Safe Harbor Statement Except for the historical information contained herein, the matters set forth in this presentation and the accompanying earnings release are f ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number: 000-23189 C.H. ROBINSON WORLDWIDE, INC. (Exact name of registrant as specified in its charter) Delaware 41-1883630 (State or oth ...