C.H. Robinson keeps on trucking, news by Hebei longsheng metals and minerals co
| CH Robinson reported third quarter revenues that climbed 13.4% year over year due to an 18.7% surge in trucking revenues (on higher rates) and a 15.8% rise in global forwarding revenues. That’s better than the 8.5% expected by analysts for the freight forwarding group overall. The expansion came despite a 7.9% decline in net ocean revenues. While seaborne volumes climbed – including a 5.2% increase in U.S.-inbound volumes – CH Robinson suffered from a surge in ocean freight costs paid away to container-lines. That would suggest its faster-than-average growth in volumes came at the cost of higher expenses compared to its peers given global container-rates fell by 1.2%. Nonetheless the strong trucking business meant CH Robinson’s EBITDA margin improved to 6.29% from 5.77% a year earlier, outpacing both analysts’ expectations and peers including UPS and K+N which both declined. |
