C.H. Robinson(US:CHRW)2024-01-31 23:57Financial Performance - Total Revenues decreased by 16.7% year-over-year to $42 billion in Q4 2023[11] - Adjusted Gross Profits decreased by 19.5% year-over-year to $619 million in Q4 2023[11] - Income from Operations decreased by 34.5% year-over-year to $107 million in Q4 2023[11] - Net Income per Share decreased by 67.5% year-over-year to $026, with adjusted net income per share at $050[11] Segment Results - NAST (North American Surface Transportation) Adjusted Gross Profits decreased by 24.3% year-over-year to $3802 million in Q4 2023[25,70] - Truckload Adjusted Gross Profit decreased by 30.8% year-over-year to $2231 million in Q4 2023[25] - LTL (Less than Truckload) Adjusted Gross Profit decreased by 90% year-over-year to $1348 million in Q4 2023[25] - Global Forwarding Adjusted Gross Profits decreased by 140% year-over-year to $1623 million in Q4 2023[34,49] - Ocean Adjusted Gross Profit decreased by 172% year-over-year to $995 million, while shipments increased by 40%[33,34] - Air Adjusted Gross Profit decreased by 115% year-over-year to $279 million[34] Truckload Market Dynamics - Truckload volume decreased by 15% year-over-year in Q4[14,25] - Truckload price per mile decreased by 135% year-over-year in Q4[14] - Truckload cost per mile decreased by 105% year-over-year in Q4[14] Strategic Focus - The company aims to drive focus on profitable growth in core modes: North American truckload and LTL, and global ocean and air[3] - The company is focused on continuing to remove waste and manual touches from processes and ensuring readiness for the eventual freight market rebound[10] - The company is streamlining and automating processes to drive profitable growth[61]