C.H. Robinson reports flat 1Q profit

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Shipping logistics company C.H. Robinson Worldwide Inc. on Tuesday, April 21, said it earned $85.4 million during the first quarter that ended March 31, down 1 percent from $86.3 million during the same period last year. Revenue fell 15 percent to $1.69 billion from about $2 billion.

The Minneapolis-based company said transportation revenue fell 20 percent because of falling rates linked to lower fuel prices. C.H. Robinson said volume declined in most of the company’s modes of transportation — which include trucking, rail, ships and air — as customers sent fewer goods, but that its less-than-truckload shipping volume increased 5 percent.