C.H. Robinson(US:CHRW)2023-02-01 23:24Financial Performance - Total revenues for Q4 2022 were $5066821 thousand, a decrease of 22.1% year-over-year compared to $6501848 thousand in Q4 2021[39, 10] - Adjusted gross profit for Q4 2022 was $768174 thousand, a decrease of 10.3% year-over-year compared to $856341 thousand in Q4 2021[39, 10] - Net income per share decreased 54% year-over-year to $0.80 in Q4 2022[39] - The company returned $507 million of cash to shareholders in Q4 2022, up 128%[3] Segment Results - North American Surface Transportation (NAST) adjusted gross profit decreased 39% year-over-year in Q4 2022[41] - Global Forwarding adjusted gross profit decreased 39% year-over-year in Q4 2022, with ocean adjusted gross profit down 42.7% and air adjusted gross profit down 51.5%[41, 49] - Truckload volume in NAST decreased by 4% year-over-year, while truckload adjusted gross profit per shipment increased by 2%[20, 44] Strategic Initiatives - The company is focused on reducing net costs by $150 million on an annualized basis by Q4 2023[39] - The company is focused on scaling digitally to drive profitable growth[54] - Loads booked digitally by carriers increased 183% year-over-year in 2022[69]