C.H. Robinson says 1Q profit up 16%

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Updated Apr 27, 2011

Logistics provider C.H. Robinson Worldwide Inc. on Tuesday, April 26, recorded a first-quarter profit of $97.0 million, a 16 percent increase from $84.0 million during the same period a year ago. Revenue increased 14 percent to $2.37 billion. Transportation revenue improved 16 percent to $341.7 million.

Truck net revenues, which consist of truckload and less-than-truckload services, increased 21.9 percent. Truckload volumes increased about 7.5 percent, while truckload net revenue margin was level. Truckload pricing increased 8 percent, and truckload transportation costs increased 6 percent, excluding the estimated impacts of fluctuating fuel prices.

Less-than-truckload net revenues increased 31 percent, which the Minneapolis-based company attributed to an increase in total shipments of 18 percent, pricing increases and higher net revenue margin.