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July 31, 2019 12:00 PM, EDT

C.H. Robinson’s Net Income Up 6.3% in 2Q

CH Robinson sign TT file photo

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C.H. Robinson Worldwide reported net income for the quarter ended June 30 came in at $169.2 million, up 6.3% from $159 million in the second quarter a year ago.

Earnings per share of $1.22 were up 8%, from $1.13 in the same period a year ago, the company said in a July 30 news release.

Revenues were $3.9 billion, down 8.6% from $4.28 billion in the second quarter of 2018.

CEO Bob Biesterfeld said the Eden Prairie, Minn.-based logistics company performed well in what he called a challenging environment for freight.

Bob Biesterfeld, CEO of C.H. Robinson Worldwide

Biesterfeld

“We expect the soft freight environment to continue through the balance of 2019,” Biesterfeld said. “Despite the current freight environment, our long-term goals remain unchanged. We remain focused on taking market share, automating core processes while delivering industry-leading quality service to our customers and carriers, and improving operating leverage in our businesses.”

Second-quarter revenue for C.H. Robinson’s North American segment totaled $2.9 billion, a decrease of 9.2% over the prior year, primarily driven by decreased pricing, the company reported.

Net revenue in truckload increased 8.6%, less-than-truckload net revenue increased 2.8%, and intermodal net revenues decreased 33.8% versus the year ago period.

Truckload volume declined 2.5% in the quarter. Volume of LTL grew 3.5 %, and intermodal volume declined 30.5% versus the prior year.

Second-quarter total revenue for the global forwarding segment decreased 4.1% to $592.5 million, primarily because of lower pricing in ocean and air and a decline in air volume, the company said.

C.H. Robinson ranks No. 5 on the Transport Topics Top 50 list of the largest logistics companies in North America and No. 1 on the TT list of top freight brokerage firms. The company also ranks No. 9 on the TT list of top ocean freight forwarders and No. 25 on the TT list of top airfreight forwarders.