CH Robinson Worldwide Stock Plunges After Q4 EPS Miss

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  • CH Robinson Worldwide Inc CHRW reported fourth-quarter revenue growth of 42.9% year-over-year to $6.5 billion, beating the consensus of $6.22 billion.
  • Revenue increase was driven primarily by higher pricing and higher volume across most of the company’s services.
  • NAST segment revenues grew by 26.1% Y/Y to $3.9 billion, driven by the higher truckload and less-than truckload (LTL) pricing and increased truckload shipments.
  • Global Forwarding segment revenue grew 108.1% Y/Y to $2.1 billion, driven by higher pricing and volume in its ocean and air services, reflecting the strong demand environment, market share gains, and strained capacity.
  • Adjusted gross profits increased 33.7% Y/Y to $856.3 million, and margin contracted by 90 bps to 13.2%.
  • EPS improved 61.1% Y/Y to $1.74, missing the consensus of $1.85.
  • Income from operations increased by 39% Y/Y to $287.4 million, and the adjusted operating margin expanded by 130 bps to 33.6%.
  • Q4 cash from operations was $75.9 million, compared to $162.1 million in 4Q20. Cash flow from operations decreased 81% to $95 million.
  • The company held $257.4 million in cash and equivalents as of December 31, 2021.
  • Price Action: CHRW shares traded lower by 9.22% at $94.97 on the last check Wednesday.
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