C.H. Robinson’s 1Q Profit Decreases

Transportation and third-party logistics firm C.H. Robinson Worldwide reported a first-quarter profit of $84 million, or 50 cents a share, down slightly from $85.4 million, or 50 cents a share, a year ago.

Revenue grew 22.9% to $2.1 billion, the company said Wednesday. Transportation revenue fell 4.3% to $284.9 million.

Truck revenue, including truckload and less-than-truckload services, fell 5.7% to $241.7 million. Truckload volumes increased 22%, while truckload margins decreased due to higher transportation costs, higher fuel prices and lower prices charged to customers. LTL revenues grew 20%, driven by a 40% increase in shipments.

Intermodal net revenue fell 13.3% due to higher transportation costs.

C.H. Robinson is ranked No. 8 on the Transport Topics Logistics 50 listing of North American logistics firms.