C.H. Robinson says 1Q net income up 9.8%

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C.H. Robinson Worldwide Inc. on Tuesday, April 24, said total revenue for the quarter ended March 31, the first quarter of the Minneapolis-based company’s fiscal year, was $2.55 billion, an increase of 7.9 percent from $2.37 billion during the same period a year ago. Truck transportation revenue was $315.4 million, a 7.1 percent increase from $294.5 million. Net income was $106.5 million, an increase of 9.8 percent from $97 million.

The third-party logistics provider said its truckload net revenue margin decreased due to its cost per mile rising faster than price per mile, and due to the higher cost of fuel. Truckload pricing to customers increased about 1 percent, while truckload transportation costs increased about 2 percent, excluding the estimated impacts of the change in fuel. Less-than-truckload net revenues increased about 13 percent driven by an increase in total shipments of about 13 percent and pricing increases.