C.H. Robinson reports higher 3Q profit

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Third-party logistics company C.H. Robinson Worldwide Inc. on Tuesday, Oct. 25, announced total revenue for the third quarter ended Sept. 30 of $2.695 billion, an increase of 11.3 percent from $2.42 billion during the same 2010 timeframe. Net income was $114.35 million, an 11.4 percent increase from $102.63 million.

For the nine months ended Sept. 30, total revenue was $7.768 billion, up 11.8 percent from $6.949 billion during the same 2010 timeframe. Net income was $322.4 million, up 13.6 percent from $283.9 million.

Truck net revenues, which consist of truckload and less-than-truckload services, increased 13.1 percent in the third quarter. The Minneapolis-based company said truckload volumes increased about 4 percent, while truckload net revenue margin decreased slightly.

Truckload pricing increased about 4 percent, and truckload transportation costs increased about 3 percent, excluding the estimated impacts of the change in fuel. LTL net revenues increased about 28 percent driven by an increase in total shipments of about 15 percent and pricing increases. Intermodal net revenue increased 14.7 percent due to increased volumes and price increases.