C.H. Robinson Worldwide reported third-quarter results after the market closed on Tuesday.
The Eden Prairie-based global logistics firm earned $129 million in the quarter or 90 cents per share, a decrease of 7.5 percent and 6.2 percent over the third-quarter earnings and earnings per share from the third quarter in 2015.
The results failed to meet analysts’ earnings expectations of 96 cents per share.
The company was challenged by a difficult pricing environment and saw its total revenue decrease 1.9 percent to $3.4 billion.
“Despite the decrease in some of our key financial metrics in the third quarter, we feel confident that we are making good progress on our long-term plans,” said C.H. Robinson’s chairman and CEO, John Wiehoff in a release. “We are adapting to the market conditions by achieving profitable volume growth and continuing to focus on improving our customers’ supply chain outcomes.”
Other shipping and logistics companies also have reported disappointing results in the third quarter. Ryder Systems reported results Tuesday morning and while earnings per share of $1.67 came in a penny above analysts’ expectations, it was down from the $1.74 per share it reported in its third quarter last year. Last week J.B. Hunt Transport missed its earnings targets as its net income decreased 5 percent compared to same quarter last year.