Core Insights - C.H. Robinson Worldwide (CHRW) reported a revenue of $3.91 billion for the quarter ended December 2025, reflecting a year-over-year decline of 6.5% [1] - The company's EPS for the same period was $1.23, slightly up from $1.21 a year ago, and exceeded the consensus EPS estimate of $1.12 by 9.73% [1] Revenue and Earnings Performance - The reported revenue of $3.91 billion was below the Zacks Consensus Estimate of $3.96 billion, resulting in a surprise of -1.18% [1] - Key metrics indicate that C.H. Robinson's stock has returned +11.4% over the past month, outperforming the Zacks S&P 500 composite's +0.8% change [3] Detailed Revenue Breakdown - Average employee headcount was 12,085, lower than the average estimate of 12,245 based on three analysts [4] - Total Revenues- NAST were reported at $2.81 billion, compared to the average estimate of $2.86 billion, showing a year-over-year change of +0.3% [4] - Total Revenues- All Other and Corporate were $371.28 million, slightly above the average estimate of $366.74 million, but represented a year-over-year decline of -25.4% [4] - Total Revenues- Global Forwarding were $730.98 million, compared to the average estimate of $736.12 million, reflecting a year-over-year decline of -17.3% [4] Adjusted Gross Profit Analysis - Adjusted Gross Profit- NAST was reported at $411.62 million, slightly below the average estimate of $416.05 million [4] - Adjusted Gross Profit- All Other & Corporate was $67.44 million, exceeding the average estimate of $66.29 million [4] - Adjusted Gross Profit- Global Forwarding was $177.96 million, also below the average estimate of $179.64 million [4]

Financial Data and Key Metrics Changes - In Q4 2025, total revenue and adjusted gross profit (AGP) declined approximately 7% and 4% year-over-year, respectively [32][39] - The AGP decline was primarily driven by a 13% year-over-year decline in Global Forwarding's AGP due to a significant drop in ocean rates [32][39] - Personnel expenses in Q4 were $337 million, including $15.2 million of restructuring charges, while excluding these charges, personnel expenses were down 8.2% year-over-year [33][34] - The effective tax rate for Q4 was 18.1%, with a full-year tax rate of 18.7% expected to be in the range of 18%-20% for 2026 [38] Business Line Data and Key Metrics Changes - In North American Surface Transportation (NAST), truckload volume rose approximately 3% year-over-year, while LTL volume increased approximately 0.5% year-over-year, reflecting market share gains [14][32] - Global Forwarding expanded gross margins by 100 basis points year-over-year through improved revenue management [7] - NAST AGP margin improved by 20 basis points year-over-year despite market pressures [6] Market Data and Key Metrics Changes - The Cass Freight Shipment Index declined year-over-year for the thirteenth consecutive quarter, marking the lowest Q4 reading since the financial crisis of 2009 [4] - Spot market costs for truckload capacity spiked during the last five weeks of Q4 due to seasonal capacity decline and winter storms [4][17] - Dry van load-to-truck ratios increased to approximately 10 to 1, compared to 6 to 1 during the same period in 2024 [17] Company Strategy and Development Direction - The company is focused on controlling what it can, including providing differentiated service and solutions, executing with discipline, and continuously improving its business model [5][8] - The Lean AI strategy aims to enhance automation and improve customer outcomes while maintaining industry-leading operating margins [9][30] - The company is committed to building a scalable model that leverages AI to drive automation across its operations [9][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macro environment in Q4, including weak global freight demand and rising costs [4][32] - The company remains confident in its ability to execute strategic initiatives and improve operating leverage when freight demand eventually increases [9][22] - Management emphasized the importance of their lean operating model in navigating market challenges and driving sustainable growth [42][43] Other Important Information - The company generated $305.4 million in cash from operations in Q4 and ended the quarter with approximately $1.49 billion of liquidity [39][40] - The company returned approximately $207.7 million of cash to shareholders in Q4 through share repurchases and dividends [40] Q&A Session Summary Question: Can you provide perspective on Q1 and AGP growth? - Management noted that December was challenging due to ocean rate normalization and that cost pressures carried into January, but they remain committed to demonstrating outperformance in Q1 [50][51] Question: What are the expectations for operating margins in NAST for 2027? - Management indicated they are on a good trajectory to reach mid-cycle margins of 40% for NAST, with decisions on margin expansion versus growth to be made based on market conditions [53][54] Question: How does the company balance headcount reductions with maintaining service quality? - Management stated that headcount is not a KPI and emphasized engineering the business to focus on customer service while optimizing organizational structure [82]

Financial Data and Key Metrics Changes - The company reported a total revenue decline of approximately 7% year-over-year in Q4 2025, with adjusted gross profit (AGP) down about 4% year-over-year [32][39] - The AGP decline was primarily driven by a 13% year-over-year decrease in Global Forwarding's AGP due to falling ocean rates and market imbalances [32][33] - Personnel expenses in Q4 were $337 million, including $15.2 million in restructuring charges, while excluding these charges, personnel expenses were down 8.2% year-over-year [33][34] - The company generated $305.4 million in cash from operations in Q4 and ended the quarter with approximately $1.49 billion in liquidity [39][40] Business Line Data and Key Metrics Changes - In North American Surface Transportation (NAST), total volume grew by 1% year-over-year, with truckload volume increasing by approximately 3% [6][12] - Global Forwarding expanded gross margins by 100 basis points year-over-year through improved revenue management [7] - The company achieved double-digit productivity increases in NAST for the full year and a high single-digit productivity increase in Global Forwarding [7][19] Market Data and Key Metrics Changes - The Cass Freight Shipment Index declined year-over-year for the thirteenth consecutive quarter, marking the lowest Q4 reading since the financial crisis of 2009 [4][12] - Spot market costs for truckload capacity spiked during the last five weeks of Q4 due to seasonal capacity declines and winter storms [4][17] - The dry van load-to-truck ratio increased to approximately 10 to 1, compared to 6 to 1 during the same period in 2024 [17] Company Strategy and Development Direction - The company is focused on a Lean AI strategy, which combines lean operating models with advanced technology to improve service and operational efficiency [9][30] - The management emphasized the importance of controlling internal factors, such as service differentiation and cost management, to navigate challenging market conditions [5][8] - The company aims to continue expanding its operating leverage and market share, particularly when freight demand eventually increases [9][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macroeconomic environment but expressed confidence in the company's ability to manage through it better than in the past [4][32] - The company expects Q1 to be seasonally weaker compared to Q4, with a typical decline in the Cass Freight Shipment Index of about 2.3% [21] - Management remains optimistic about the future, indicating that the next two years could be more exciting than the previous two [46] Other Important Information - The company returned approximately $207.7 million to shareholders in Q4 through share repurchases and dividends [40] - The effective tax rate for Q4 was 18.1%, with expectations for the full year tax rate in 2026 to be between 18% and 20% [38] Q&A Session Summary Question: Insights on Q1 performance and AGP growth - Management noted that December was challenging due to ocean rate normalization and that spot rate cost pressures carried into January, but they remain committed to demonstrating outperformance in Q1 [48][51] Question: Long-term margin and volume growth expectations - Management discussed the importance of balancing margin expansion with market share growth, indicating that they are on track to achieve mid-cycle margin targets [49][54] Question: Understanding the Lean Operating Model - Management explained that their Lean AI strategy integrates people, technology, and a unique operating model, which allows for rapid innovation and competitive advantage [65][67] Question: Managing headcount reductions while maintaining service quality - Management clarified that headcount is not a KPI and emphasized their focus on engineering the business to optimize service without compromising quality [81]

Financial Data and Key Metrics Changes - In Q4 2025, total revenue and adjusted gross profit (AGP) declined approximately 7% and 4% year-over-year, respectively [30][31] - The AGP decline was primarily driven by a 13% year-over-year decline in Global Forwarding's AGP due to a significant drop in ocean rates [30][31] - Personnel expenses were $337 million, including $15.2 million of restructuring charges, while excluding these charges, personnel expenses were down 8.2% year-over-year [31][32] - The company generated $305.4 million in cash from operations in Q4 and ended the quarter with approximately $1.49 billion of liquidity [37][38] Business Line Data and Key Metrics Changes - In North American Surface Transportation (NAST), total volume grew by 1% and truckload volume increased by approximately 3% year-over-year, contrasting with a 7.6% decline in the Cass Freight Shipment Index [5][12] - Global Forwarding expanded gross margins by 100 basis points year-over-year through improved revenue management [6] - The LTL business delivered year-over-year volume growth for the eighth consecutive quarter, reflecting consistent outperformance versus the broader LTL market [14] Market Data and Key Metrics Changes - The Cass Freight Shipment Index declined year-over-year for the thirteenth consecutive quarter, marking the lowest Q4 reading since the financial crisis of 2009 [3][12] - Spot market costs for truckload capacity spiked during the last five weeks of Q4 due to seasonal capacity decline and winter storms [3][17] - Dry van load-to-truck ratios increased to approximately 10 to 1, compared to 6 to 1 during the same period in 2024 [17] Company Strategy and Development Direction - The company is focused on controlling what it can, including providing differentiated service and solutions, executing with discipline, and continuously improving its business model [4][8] - The Lean AI strategy aims to enhance automation and improve customer outcomes while maintaining industry-leading operating margins [9][28] - The company is committed to building a scalable model that leverages AI to drive automation across its operations [9][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macro environment in Q4, characterized by weak global freight demand and rising costs [3][4] - The company remains confident in its ability to execute strategic initiatives and improve operating leverage when freight demand eventually increases [9][20] - Management emphasized the importance of their Lean AI strategy in navigating market conditions and driving sustainable, profitable growth [39][42] Other Important Information - The company returned approximately $207.7 million to shareholders in Q4 through share repurchases and dividends [38] - The effective tax rate for Q4 was 18.1%, with expectations for the full year tax rate in the range of 18%-20% for 2026 [35] Q&A Session Summary Question: Can you provide perspective on Q1 and AGP growth? - Management noted that December was challenging due to ocean rate normalization and that cost pressures carried into January, but they remain committed to demonstrating outperformance in Q1 [46][48] Question: What are the expectations for operating margins in 2027? - Management indicated that they are on a good trajectory to reach mid-cycle margins and will make decisions on whether to expand margins or reinvest in growth based on market conditions [47][51] Question: How does the company balance headcount reductions with maintaining service quality? - Management clarified that headcount is not a KPI and emphasized that productivity improvements come from process changes rather than simply reducing headcount [81][82]

分组1 - C.H. Robinson Worldwide (CHRW) reported quarterly earnings of $1.23 per share, exceeding the Zacks Consensus Estimate of $1.12 per share, and showing an increase from $1.21 per share a year ago, resulting in an earnings surprise of +9.73% [1] - The company posted revenues of $3.91 billion for the quarter ended December 2025, which was below the Zacks Consensus Estimate by 1.18%, and a decrease from $4.18 billion in the same quarter last year [2] - C.H. Robinson has surpassed consensus EPS estimates for the last four quarters but has not beaten consensus revenue estimates during the same period [2] 分组2 - The stock has gained approximately 12.2% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] - The current consensus EPS estimate for the upcoming quarter is $1.26 on revenues of $4.12 billion, and for the current fiscal year, it is $5.84 on revenues of $17.11 billion [7] - The Transportation - Services industry, to which C.H. Robinson belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Core Insights - C.H. Robinson has faced challenges in the fourth quarter due to a sudden rise in spot rates in the freight market, impacting its brokerage operations [1] - Despite these challenges, C.H. Robinson's stock price increased significantly, reaching a 52-week high [2] Financial Performance - Adjusted non-GAAP earnings per share for the fourth quarter were $1.23, exceeding consensus estimates by $0.10 [2] - Diluted earnings per share for the fourth quarter were $1.12, a decrease of 7.1% year-on-year and down from $1.34 in the third quarter [3] - Total adjusted gross profits in the fourth quarter were $657 million, down from $706 million in the third quarter and 4% lower than the previous year [4] Segment Performance - Truckload brokerage adjusted gross profits fell to $248.1 million from $273.9 million in the third quarter, also down 5.1% year-on-year [4] - LTL gross profits decreased to $150.9 million from $158.3 million in the third quarter, but were up 6.3% compared to the fourth quarter of 2024 [4] Operational Metrics - C.H. Robinson has seen a year-on-year reduction in headcount by 12.9%, continuing a trend of declining employment levels over the past two years [5] - Year-on-year volume in the North American Surface Transport (NAST) segment increased by 1%, with truckload volume up 3%, despite the Cass Freight Shipment Index declining by 7.6% [6]

Q4 2025 Earnings Presentation 2024 INVESTOR DAY January 28, 2026 Safe Harbor Statement Except for the historical information contained herein, the matters set forth in this 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 ...

Revenue Performance - Total revenues for Q4 2025 decreased 6.5% to $3.9 billion, primarily due to the divestiture of the Europe Surface Transportation business and lower pricing and volume in ocean services [8]. - Full year 2025 total revenues decreased 8.4% to $16.2 billion, driven by the divestiture of the Europe Surface Transportation business and lower pricing in ocean services [10]. - Total revenues for the fourth quarter of 2025 were $371.3 million, a decrease of 25.4% compared to $498.0 million in the fourth quarter of 2024 [13]. - For the three months ended December 31, 2025, total revenues decreased by 6.5% to $3.91 billion compared to $4.18 billion in the same period of 2024 [29]. - Total revenues for the three months ended December 31, 2025, were $3,912,634, a slight decrease from $4,184,656 in the same period of 2024, representing a year-over-year decline of approximately 6.5% [31]. Profitability Metrics - Adjusted gross profit margin for North American Surface Transportation (NAST) increased by 20 basis points to 14.6% despite a challenging macro environment [5]. - Adjusted income from operations for Q4 2025 increased 7.1% to $197.4 million, while income from operations decreased 1.3% to $181.4 million [5]. - Adjusted gross profits for Global Forwarding decreased 12.7% to $178.0 million, with ocean adjusted gross profits down 22.0% [12]. - Total adjusted gross profits for the fourth quarter were $657.0 million, a decrease of 4.0% from $684.6 million in the fourth quarter of 2024 [23]. - Adjusted income from operations for the twelve months ended December 31, 2025 was $833.7 million, reflecting an increase of 18.8% from $669.1 million in 2024 [29]. - Adjusted net income per share (diluted) for the twelve months ended December 31, 2025 was $5.09, up from $4.51 in 2024 [26]. - The adjusted operating margin for the consolidated results for the twelve months ended December 31, 2025 was 30.5%, compared to 27.5% in 2024 [27]. Cash Flow and Shareholder Returns - Cash generated by operations increased by $37.5 million to $305.4 million, and cash returned to shareholders increased 150.7% to $207.7 million [5]. - Cash generated from operations totaled $305.4 million in the fourth quarter, up from $267.9 million in the fourth quarter of 2024, reflecting a $37.5 million increase [16]. - Cash returned to shareholders in the fourth quarter amounted to $207.7 million, including $133.3 million in stock repurchases and $74.3 million in dividends [17]. - Net cash provided by operating activities for the twelve months ended December 31, 2025, was $914,519, compared to $509,084 in 2024, an increase of approximately 79.5% [35]. Income and Expenses - Net income for Q4 2025 totaled $136.3 million, down 8.7% from a year ago, with diluted EPS of $1.12 decreasing 8.2% [8]. - Income from operations for the three months ended December 31, 2025 was $181.4 million, a slight decrease of 1.3% from $183.8 million in 2024 [29]. - Total costs and expenses for the three months ended December 31, 2025 were $3.73 billion, down 6.7% from $4.00 billion in the same period of 2024 [29]. - The provision for income taxes for the twelve months ended December 31, 2025 increased by 19.3% to $135.4 million from $113.5 million in 2024 [29]. Tax and Capital Expenditures - The effective tax rate for the fourth quarter was 18.1%, up from 11.4% in the same quarter of 2024, influenced by non-recurring items and lower U.S. tax credits [15]. - The company expects a full-year effective tax rate for 2026 to be between 18% and 20% [15]. - Capital expenditures for the fourth quarter were $15.7 million, with expectations for 2026 capital expenditures between $75 million and $85 million [17]. Workforce and Assets - Average employee headcount decreased to 12,733 in 2025 from 14,386 in 2024, a reduction of approximately 11.5% [31]. - Total assets as of December 31, 2025, were $5,058,381, down from $5,297,926 in 2024, a decrease of about 4.5% [33]. - Long-term debt increased to $1,089,438 as of December 31, 2025, from $921,857 in 2024, representing an increase of about 18.2% [33]. - Cash and cash equivalents at the end of the period increased to $160,871 from $145,762 in 2024, a rise of approximately 10.5% [35]. Other Financial Metrics - Severance and other personnel expenses for the twelve months ended December 31, 2025 totaled $30.0 million, primarily related to workforce reductions [26]. - The company reported an adjusted gross profit of $2.73 billion for the twelve months ended December 31, 2025, compared to $2.77 billion in 2024 [27]. - The company reported a loss from operations of $10,658 for the twelve months ended December 31, 2025, compared to a profit of $669,141 in 2024 [31]. - The company made acquisitions net of cash acquired amounting to $11,864 during the twelve months ended December 31, 2025 [35].

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)---- $CHRW #CHRobinson--C.H. Robinson Reports 2025 Fourth Quarter Results. ...

Core Viewpoint - Kuehne & Nagel International Ag (KHNGY) is currently viewed as a more attractive investment option compared to C.H. Robinson Worldwide (CHRW) for value investors seeking undervalued stocks [1][3][7] Valuation Metrics - KHNGY has a forward P/E ratio of 25.30, while CHRW has a higher forward P/E of 30.87 [5] - KHNGY's PEG ratio stands at 1.38, indicating a better valuation relative to its expected earnings growth compared to CHRW's PEG ratio of 1.96 [5] - KHNGY's P/B ratio is 10.74, which is lower than CHRW's P/B ratio of 11.48, suggesting that KHNGY is more favorably valued in terms of market value versus book value [6] Earnings Outlook - KHNGY is experiencing an improving earnings outlook, which contributes to its stronger Zacks Rank of 2 (Buy) compared to CHRW's Zacks Rank of 3 (Hold) [3][7] - The positive estimate revision trends for KHNGY indicate a stronger potential for earnings growth compared to CHRW [3] Value Grades - KHNGY has received a Value grade of B, while CHRW has a Value grade of D, further supporting the argument for KHNGY as the superior value option [6]