News Column

BRIEF: Trucking demand boosts C.H. Robinson 2Q profit

July 30, 2014

By Evan Ramstad, Star Tribune (Minneapolis)



July 30--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

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(c)2014 the Star Tribune (Minneapolis)

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Source: Star Tribune (Minneapolis, MN)


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