Results reflect “continued improvement in execution” as group deploys new operating model, according to president and CEO Dave Bozeman
Logistics specialist CH Robinson has reported on an improved set of results for the third quarter (Q3) of the year.
The group saw ”significant” year-over-year increase in profitability, driven by ”strong execution, disciplined volume growth and improvement in gross profit, productivity and operating leverage”.
Total revenues increased 7 per cent to US$4.6bn, primarily driven by higher pricing and volume in the company’s ocean services, partially offset by lower pricing and volume in truckload services.
Gross profits increased 15.5 per cent to US$723.8mn, while adjusted gross profits increased 15.8 per cent to US$735.3mn.
CH Robinson’s income from operations totalled US$180.1mn in Q3, up 58.7 per cent year-on-year due to the increase in adjusted gross profits, partially offset by an increase in operating expenses.
Net income for the quarter totalled US$97.2mn, up 18.6 per cent from a year ago.
“I’m pleased with our third quarter results that reflect continued improvement in our execution, as we continue to deploy our new operating model,” said CH Robinson’s president and CEO Dave Bozeman.
”We are raising the bar, even in a historically prolonged freight recession, with strong execution and disciplined volume growth across divisions while delivering exceptional service for our customers and carriers.”
