C.H. Robinson Worldwide Inc. on Tuesday, July 27, reported financial results for the second quarter ended June 30. Net income was $97.2 million compared with $92.3 million a year ago. Revenue rose 27 percent to $2.45 billion.
Transportation revenue increased 32 percent, transportation net revenues increased 1.2 percent to $309.9 from $306.2 million, and transportation net revenue margin decreased to 15.8 percent from 20.6 percent.
Truck net revenues, which consist of truckload and less-than-truckload services, decreased 2.4 percent, while truckload volumes increased about 18 percent. Truckload net revenue margins decreased due to higher transportation costs and higher fuel prices, partially offset by increased pricing to customers. Excluding the estimated impacts of the change in fuel, truckload pricing to customers increased about 5 percent.
Truckload transportation costs increased about 11 percent, excluding the estimated impacts of fuel. LTL net revenues increased about 20 percent, driven by an increase in total shipments of about 25 percent, partially offset by decreased net revenue margin.
The Minneapolis-based company said that through Monday, July 26, total net revenues per business day in July were up about 7 percent over the same period in July 2009.
