C.H. Robinson Reports 2020 Third Quarter Financial Results
MINNEAPOLIS, MN (STL.News) C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW) today reported financial results for the quarter ended September 30, 2020.
C.H. Robinson Worldwide, Inc. Third Quarter Key Metrics:
- Total revenues increased 9.6 percent to $4.2 billion
- Net revenues decreased 7.0 percent to $589.3 million
- Income from operations decreased 16.3 percent to $168.2 million
- Operating margin decreased 310 basis points to 28.6 percent
- Diluted earnings per share (E.P.S.) decreased 6.5 percent to $1.00
- Cash flow from operations decreased $335.9 million to $168.6 million used by operations
“We were able to deliver solid performance across our diversified business portfolio and improve our results as the quarter progressed due to the efforts of our C.H. Robinson team members around the world,” said Bob Biesterfeld, Chief Executive Officer of C.H. Robinson. “We also continued to make progress on our strategic, long-term initiatives around profitable market share gains, productivity improvements and technology advancements.”
Biesterfeld continued, “Against a challenging backdrop, we delivered on our contractual commitments with acceptance rates that were above the industry average, while also serving customers’ needs in the spot market.”
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