C.H. Robinson Worldwide Misses Q1 Views

reported downbeat results for the first quarter on Monday. The Eden Prairie, Minnesota-based company reported a quarterly profit of $106.5 million, or $0.73 per share, compared to $93.2 million, or $0.63 per share, in the year-ago period. Its revenue gained 5 percent year-over-year to $3.3 billion. However, analysts were expecting earnings of $0.74 per share on revenue of $3.45 billion. Truckload net revenue rose 9.6 percent year-over-year in the first quarter, while less-than-truckload revenue jumped 42.0 percent. Intermodal net revenue climbed 17.6 percent, while ocean transportation net revenue gained15.1 percent in the quarter. Air transportation net revenue surged 18.2 percent, while customs net revenue rose 10.0 percent in the first quarter. Sourcing net revenue jumped 11.6 percent year-over-year in the first quarter. Its operating expenses gained 14.3 percent to $343.2 million, while personnel expenses rose 15.8 percent to $255.1 million in the first quarter. The average estimate among 11 Estimize users was for earnings of $0.76 per share and revenue of $3.43 billion. C.H. Robinson shares declined 0.28 percent to $68.75 in the after-hours trading session.