C.H. Robinson Worldwide Down 7% on Lower Than Expected Earnings
C.H. Robinson Worldwide (NASDAQ: CHRW) is down on the session following its Q4 earnings announcement yesterday. The company reported EPS of $0.67 vs $0.68 estimate and revenues of $2.57 billion vs $2.63 billion estimate.
The company said that: "Our truck net revenues, which consist of truckload and less-than-truckload services, increased 5.5 percent in the fourth quarter of 2011. Our truckload volumes increased approximately seven percent in the fourth quarter of 2011 compared to the fourth quarter of 2010. Our truckload net revenue margin decreased in the fourth quarter of 2011 compared to the fourth quarter of 2010, due to the higher cost of fuel and our cost per mile rising faster than our price per mile."
C.H. Robinson Worldwide is currently trading at $64.07, a loss of $4.77 or 6.93%.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.