C.H. Robinson Worldwide on Tuesday, April 22, reported financial results for the quarter ended March 31:
Total transportation gross profits increased 13.8 percent to $298.7 million from $262.4 million. Transportation gross profit margin decreased to 18.2 percent from 20.2 percent due to gross profit margin declines in several of the Minneapolis-based company’s transportation modes.
Truck gross profits, consisting of truckload and less-than-truckload services, grew 13.2 percent due to volume growth, offset by declines in truckload gross profit margins. Truckload volumes increased about 15 percent: Including fuel, truckload rates increased about 8 percent; excluding estimated impacts of fuel, underlying linehaul rates decreased about 2 percent. Truckload gross profit margins declined due to higher fuel prices and declining truckload rates. LTL shipments increased about 30 percent; LTL gross profit margins were consistent with the first quarter of 2007.
