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US: C.H. Robinson report profits rise

Logistics company C.H. Robinson Worldwide announced earlier this week that its first-quarter profit rose 10 percent as demand rose for its services. The gains would have been larger but the company said it wasn't able to raise prices fast enough to keep up with rising fuel prices.

C.H. Robinson Worldwide earned $106.5 million, or 65 cents per share, for the quarter that ended March 31. That was up from $97 million, or 59 cents per share, during the same period last year.

Revenue rose 8 percent to $2.55 billion, from $2.37 billion a year earlier.

Trucking revenue rose 7 percent. Volumes for truckload shipments rose 8 percent. Volumes for less-than-truckload hauling, where a single truck carries goods for multiple customers, rose 13 percent.

Revenue from ocean shipping rose 1 percent to almost $15.8 million. Revenue from other logistics services jumped 24 percent to $17.5 million.

Source: www.businessweek.com

Publication date: 4/26/2012


 


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