C.H. Robinson(US:CHRW)2023-11-02 00:52Financial Performance - Total revenues decreased by 29.6% to $4.03 billion in Q3 2023 compared to $5.72 billion in Q3 2022[62] - Adjusted gross profits decreased by 28.4% year-over-year to $635 million[10] - Net income per share decreased by 61.8% year-over-year to $0.68[10] - North American Surface Transportation (NAST) adjusted gross profits decreased by 31.6% year-over-year[11] - Global Forwarding adjusted gross profits decreased by 31.6% year-over-year to $169.9 million[11, 21] Truckload Market - Truckload volume was down 6.0% year-over-year[8] - Truckload adjusted gross profit per shipment decreased by 36.5%[8] - Truckload contractual volume mix was 70% and transactional volume mix was 30% in Q3[38] - Price per mile decreased 16.5% year-over-year for truckload shipments[38] - Cost per mile decreased 13.5% year-over-year for truckload shipments[38] Global Forwarding - Ocean adjusted gross profit decreased by 35.0% to $103.8 million[21] - Air adjusted gross profit decreased by 36.8% to $29.7 million[21] - Customs adjusted gross profit decreased by 10.7% to $24.9 million due to an 8.0% decline in volume[20, 21] Other Segments - Robinson Fresh adjusted gross profit increased by 12.3% to $31.1 million[47] - Managed Services adjusted gross profit decreased slightly by 0.6% to $29.4 million[47] - Other Surface Transportation adjusted gross profit increased by 1.3% to $17.9 million[11, 47]