C.H. Robinson announces higher 1Q income, revenue

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C.H. Robinson Worldwide on Tuesday, April 22, reported financial results for the quarter ended March 31:

  • Gross revenues, $1.985 billion, up 22.6 percent from $1.619 billion during the year-ago period;
  • Gross profits, $338 million, up 13.8 percent from $297 million;
  • Operating income, $136 million, up 18.1 percent from $115 million; and
  • Net income, $86.3 million, up 18.3 percent from $73 million.
  • 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.