C. H. Robinson Worldwide (CHRW) Reports In-Line Q2 EPS

C. H. Robinson Worldwide (NASDAQ: CHRW) reported Q2 EPS of $1.00, in-line with the analyst estimate of $1.00. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.43 billion.

Our truckload net revenues decreased 1.4 percent in the second quarter of 2016 compared to the second quarter of 2015. Our total truckload volumes increased approximately three percent in the second quarter of 2016 compared to the second quarter of 2015. North American truckload volumes also increased approximately three percent over the same period. Our truckload net revenue margin increased in the second quarter of 2016 compared to the second quarter of 2015, due primarily to lower transportation costs. In North America, excluding the estimated impacts of the change in fuel prices, our average truckload rate per mile charged to our customers decreased approximately 7.5 percent in the second quarter of 2016 compared to the second quarter of 2015. In North America, our truckload transportation costs decreased approximately eight percent, excluding the estimated impacts of the change in fuel prices.

Our less than truckload (“LTL”) net revenues increased nine percent in the second quarter of 2016 compared to the second quarter of 2015. LTL volumes increased approximately seven percent in the second quarter of 2016 compared to the second quarter of 2015. Net revenue margin increased in the second quarter of 2016 compared to the second quarter of 2015.

Our intermodal net revenues decreased 21.8 percent in the second quarter of 2016 compared to the second quarter of 2015. This was primarily due to decreased volumes and net revenue margin declines. During the second quarter of 2016, intermodal opportunities were negatively impacted by the alternative lower cost truck market.

Our ocean transportation net revenues increased 1.7 percent in the second quarter of 2016 compared to the second quarter of 2015. The increase in net revenues was primarily due to increased net revenue margin and volumes, offset partially by pricing declines.

Our air transportation net revenues increased 2.7 percent in the second quarter of 2016 compared to the second quarter of 2015. The increase was due to increased net revenue margin and an increase in volumes, offset partially by pricing declines.

Our customs net revenues increased 5.8 percent in the second quarter of 2016 compared to the second quarter of 2015. The increase was primarily due to increased transaction volumes.

Our other logistics services net revenues, which includes managed services, warehousing, and small parcel, increased 24.0 percent in the second quarter of 2016 compared to the second quarter of 2015 primarily from growth in managed services.

Sourcing net revenues increased 5.7 percent in the second quarter of 2016 compared to the second quarter of 2015. This increase was primarily due to a case volume increase across a variety of commodities and services and an increase in net revenue per case.

For earnings history and earnings-related data on C. H. Robinson Worldwide (CHRW) click here.

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