C.H. Robinson Fourth-Quarter Earnings Drop
C.H. Robinson Worldwide Inc. reported fourth-quarter earnings fell 63.7% to $93 million, or 62 cents per share, from $256.4 million, or $1.58 per share a year ago.
Revenue increased 6.1% to $3.15 billion, the Eden Prairie, Minn.-based brokerage and logistics company reported.
Overall transportation revenue increased 1.7% to $416 million, but truckload net revenue declined 5.6% to $256 million due in part to increased transportation costs. Less-than-truckload revenue increased 3.2% to $58.8 million.
Full-year net income declined to $416 million, or $2.65 per share, from $593 million, or $3.67 per share, the prior year. Revenue increased 12.3% to $12.7 billion.
C.H. Robinson ranks No. 5 on the Transport Topics Top 50 listing of North American logistics firms.
