C.H. Robinson Worldwide's second-quarter profit declined 2.4 percent and was short of outside expectations, amounting to 70 cents a share compared to 74 cents analysts had forecast.
The results were released after the market closed Tuesday. In after-hours trading, the company's shares traded down $1.58, or nearly 3 percent, to $58.
The Eden Prairie-based company earned $111.9 million. Revenue was $3.29 billion, up 11.3 percent but below analysts' forecast of $3.34 billion.
Robinson, a third-party logistics firm that matches shippers with available transportation, said that full-truckload net revenues -- the difference between what it charges shippers to haul their freight and what it pays transportation companies to carry the goods -- rose 3.2 percent. Truckload volumes increased 9 percent. The company said North American truckload profit margins were flat and European profit margins declined.
Steve Alexander • 612-673-4553
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