News Column

C.H. Robinson stock drops 6 percent after earnings miss

February 4, 2014

By Steve Alexander, Star Tribune (Minneapolis)

Feb. 04 --Investors drove C.H. Robinson Worldwide stock down 6 percent in after-hours trading Tuesday after the company reported fourth-quarter per-share earnings that fell more than expected. The Eden Prairie logistics firm, which finds transportation companies to match the needs of shippers, earned 62 cents a share on an adjusted basis. That was 6 cents below Wall Street expectations and a decline of 6 percent from a year ago. Fourth-quarter net earnings dropped 63.7 percent to $93 million . Revenue was $3.15 billion , up 6.1 percent from a year ago but below the $3.27 billion analysts' had anticipated. Revenue from truckloads of freight dropped 5.6 percent in the quarter, while truckload shipping volume rose 7 percent, the company said. Net revenue margins on truckload hauling, or the difference between what a shipper pays Robinson and what Robinson pays a freight hauler, declined due to higher costs, the firm said. Robinson reported revenue increases in other areas of its shipping business, including less-than-truckload freight hauling, hauling that combines railroad and truck shipping, ocean shipping and air transportation. Robinson stock closed Tuesday at $58.64 , up 91 cents or 1.6 percent. In after-hours trading, the stock dropped $3.64 to $55 . Steve Alexander -- 612-673-4553 ___ (c)2014 the Star Tribune (Minneapolis) Visit the Star Tribune (Minneapolis) at Distributed by MCT Information Services

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Source: Star Tribune (Minneapolis, MN)

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