C.H. Robinson reports mixed Q1 results

posted on 3rd May 2019 by Justin Burns
C.H. Robinson reports mixed Q1 results

C.H. Robinson has reported that its revenues fell 4.4 per cent to $3.8 billion in the first quarter (Q1) ending 31 March.

Howeverm, net revenues increased 8.4 per cent to $678.8 million and income from operations rose 17.2 per cent to $224.6 million.

Q1 total revenues for the global forwarding segment decreased 2.9 per cent to $537.6 million, primarily driven by lower pricing in ocean and air. Net revenues increased 3.4 percent in the quarter to $127.2 million. Net revenues in air increased 0.4 percent, as margin expansion was largely offset by a decline in shipments

C.H. Robinson chairman and chief executive officer, John Wiehoff said: “During the first quarter, we achieved high single-digit net revenue growth and double-digit growth in both operating income and earnings per share.

“Operating margin improved 250 basis points in the quarter. Our North American Surface Transportation business generated double-digit net revenue growth in the quarter, and we delivered significant operating margin expansion in both our NAST and Global Forwarding businesses.”

He added: “We continued to make improvements in working capital, which combined with increased earnings, allowed us to generate over $250 million in cash flow from operations and increase cash returns to our shareholders. These strong first quarter results reflect the strength and hard work of our global network.”