C.H. Robinson beats first-quarter earnings estimate

  • Updated: April 29, 2014 - 8:38 PM

C.H. Robinson Worldwide Inc. beat investors’ first-quarter earnings expectations Tuesday.

The Eden Prairie-based logistics company, which matches shippers with transportation companies, earned $93.2 million, down 9.8 percent from a year ago. That amounted to 63 cents a share, which was higher than the 61 cents analysts had expected.

Revenue of $3.14 billion, up 5 percent, came in just under the $3.18 billion Wall Street had expected.

The company’s stock, which fell nearly 1 percent during market hours, rose almost 4 percent during after-hours trading following the results announcement.

Truckload net revenue increased 0.5 percent compared with a year ago, while truckload cargo volume increased about 4 percent. In North America, truckload cargo volume increased about 3 percent because of difficult weather conditions, the company said.

In another category of trucking, called “less-than-truckload,” revenue increased 2.8 percent compared with a year earlier. But the growth rate slowed partly because of weather conditions, the company said.

Steve Alexander

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