US freight forwarder C.H. Robinson has reported that full-year revenues surged 11.8 per cent in 2018 to $16.6 billion and net revenues 14.2 per cent to $2.7 billion.
Income from operations increased 17.7 per cent to $912.1 million in the fiscal year ending 31 December 2018.
In the fourth quarter last year, total revenues increased 4.5 per cent to $4.1 billion, net revenues increased 13 per cent to $713.8 million and income from operations increased 21.2 per cent to $255.5 million.
Fourth quarter net revenues for the Global Forwarding segment increased 11.6 per cent in the quarter to $142.7 million. Net revenues in air increased 9.3 per cent, as the air service line benefited from a decreasing cost environment.
C.H. Robinson chairman and chief executive officer, John Wiehoff said: “We are pleased with our financial results in 2018. We achieved record levels of net revenues and operating income and a 100 basis point increase in operating income margin.
“Led by our strong operating performance, we more than doubled our cash flow from operations and returned nearly $600 million to shareholders in 2018,”
“Our strong 2018 financial results reflect the strength and hard work of our global network.”