C.H. Robinson Worldwide Inc. said Tuesday its second-quarter profit rose 6 percent to $118.6 million amid a sharp jump in revenue for its main trucking business.
Its profit amounted to 80 cents a diluted share, beating analysts' estimates by 3 cents. Revenue was up 6.5 percent to $3.5 billion.
The Eden Prairie-based transportation and logistics provider said its performance was led by a 15.6 percent jump in net revenue for its trucking business. Truckload volumes rose 4 percent.
Its less-than-truckload business, which includes trips in which trucks aren't fully loaded, experienced an 11 percent jump in net revenue.
Its ocean shipping business saw a 2.8 percent jump and airfreight a 7.6 percent increase. Both operations are smaller than the trucking portion of Robinson's operations.
The company reported a 16 percent rise in personnel expenses, which it said was tied to incentives used in reshaping the workforce, which saw a 4 percent jump in head count compared with a year ago.
Evan Ramstad
