| --- | --- | --- | --- | --- | --- | |-------|-------------------------------|-------|-------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | Dave Bozeman, President & CEO Arun Rajan, Chief Operating Officer Mike Zechmeister, Chief Financial Officer Chuck Ives, Director of Investor Relations | | | Q4 2023 Earnings Presentation | | | | | | | ...

C.H. Robinson Worldwide (CHRW) came out with quarterly earnings of $0.50 per share, missing the Zacks Consensus Estimate of $0.80 per share. This compares to earnings of $1.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -37.50%. A quarter ago, it was expected that this trucking company would post earnings of $0.82 per share when it actually produced earnings of $0.84, delivering a surprise of 2.44%.Over the last four quart ...

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW), a leading global provider of logistics solutions, services and technology, today announced that Michael Castagnetto has been promoted to President of North American Surface Transportation (“NAST”), effective immediately. Michael succeeds Mac Pinkerton, who is transitioning from his current role at C.H. Robinson. “Michael is a strong and strategic leader, and we are confident he will ensure that NAST cont ...

In its upcoming report, C.H. Robinson Worldwide (CHRW) is predicted by Wall Street analysts to post quarterly earnings of $0.80 per share, reflecting a decline of 22.3% compared to the same period last year. Revenues are forecasted to be $4.35 billion, representing a year-over-year decrease of 14.1%.The consensus EPS estimate for the quarter has undergone a downward revision of 2.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed ...

Indeed, 2024 has effectively ushered in a topsy-turvy period for global supply chains. Major Panama and Suez Canal disruptions and escalating geopolitical tensions reshape decades-old trade routes. In particular, retailers are feeling the heat of these major upheavals, especially with the continuing attacks in the Red Sea. Those impact Suez Canal accessibility, a critical route for East Coast U.S. and European markets. Amidst these challenges, businesses are forced to adapt. This leads to a growing focus on ...

C.H. Robinson Worldwide (CHRW) is scheduled to report fourth-quarter 2023 results on Jan 31, after market close.C.H. Robinson has underperformed the Zacks Consensus Estimate in two of the preceding four quarters, met once and beat in the remaining occasion, the average miss being 6.06%.Let’s see how things have shaped up for C.H. Robinson this earnings season.Q4 ExpectationsThe Zacks Consensus Estimate for C.H. Robinson’s fourth-quarter 2023 revenues is pegged at $4.37 billion, indicating a 13.7% decline fr ...

C.H. Robinson Worldwide (CHRW) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released o ...

See accompanying notes to the condensed consolidated financial statements. Table of Contents The condensed consolidated financial statements, which are unaudited, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). In our opinion, these financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the financial statements for the interim periods presented. Interim results are not nec ...

Financial Data and Key Metrics Changes - The company reported Q3 total revenues of $4.3 billion, down 28% year-over-year, with adjusted gross profit (AGP) also down 28% or $252 million, driven by a 31.4% decline in North American Surface Transportation (NAST) and a 31.6% decline in Global Forwarding [111] - Q3 cash flow generated from operations was $205 million, a decline from $626 million in Q3 of the previous year, primarily due to changes in net operating working capital [115] - The company ended Q3 with approximately $1 billion in liquidity, including $837 million of committed funding and a cash balance of $175 million [116] Business Line Data and Key Metrics Changes - In the NAST truckload business, Q3 volume declined approximately 6% year-over-year, with a 4.5% decline on a per business day basis [112] - The average truckload line haul rate, excluding fuel surcharges, declined 16.5% year-over-year, resulting in a 34% year-over-year decrease in truckload AGP per mile and a 36.5% decrease in AGP per load [113] - In the Global Forwarding business, AGP generated was approximately $170 million, a 32% decline year-over-year, with ocean forwarding AGP declining by 35% year-over-year [22][112] Market Data and Key Metrics Changes - The freight market remains soft, with global freight demand continuing to be weak in Q3, leading to low spot rates and a loose market [15][111] - The company noted a mix of 70% contractual volume and 30% transactional volume in the truckload business, indicating a suppressed spot market [20][121] - The company observed a seasonal bump in spot rates in Q4, driven by holiday demand and some carriers taking time off [8][9] Company Strategy and Development Direction - The company is focused on improving customer and carrier experiences through enhanced visibility and increased automation, which has resulted in positive feedback and high net promoter scores [96] - The leadership is driving productivity improvements, targeting a 15% year-over-year improvement in shipments per person per day, with an 18% year-to-date improvement achieved by Q3 [97][108] - The company is leveraging generative AI and technology to streamline processes, reduce manual touches, and improve overall efficiency [29][105] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's capacity to handle incremental volume without adding headcount, preparing for a market rebound [3][15] - The management highlighted the importance of maintaining financial strength and investing through cycles to meet customer needs [16] - The company expects to see continued pricing pressure in the LTL market due to temporary capacity exiting, but anticipates that some of this capacity will return [44][126] Other Important Information - The company has reduced Q3 operating expenses in NAST by 22% year-over-year, despite a volume decline of only 3.5% [97] - Personnel expenses for Q3 were $343.5 million, down 21.5% year-over-year, with a headcount reduction of 14.2% [24] - The company plans to return $76 million to shareholders in Q3 through dividends and share repurchases, equating to 92% of Q3 net income [31] Q&A Session Summary Question: How is October trending in terms of AGP? - Management noted that the mix of volume in truckload is currently 70% contract and 30% spot, with expectations for improved AGP as demand returns [121] Question: What is the outlook for personnel costs heading into Q4? - Personnel expenses are expected to increase from Q3 to Q4, primarily due to lower incentive costs in Q3 that are not expected to repeat [122] Question: What impact does the exit of certain competitors have on the market? - Management indicated that while the exit of competitors like Convoy does not have a material impact on results, it does create opportunities for capturing profitable volume [41][126] Question: How does the company plan to balance market share and profitability during the bid season? - The company aims to gain both margin and market share, operating within the current market dynamics while protecting margins [78]

Except for the historical information contained herein, the matters set forth in this presentation and the accompanying earnings release are forward-looking statements that represent our expectations, beliefs, intentions or strategies concerning future events. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience or our present expectations, including, but not limited to factors such as changes in e ...