C. H. Robinson Worldwide (CHRW) Tops Q2 EPS by 69c

C. H. Robinson Worldwide (NASDAQ: CHRW) reported Q2 EPS of $2.67, $0.69 better than the analyst estimate of $1.98. Revenue for the quarter came in at $6.8 billion versus the consensus estimate of $6.79 billion.

Outlook:

"As questions linger about global economic growth, inflationary pressures, and consumer discretionary spending, our global suite of multimodal services, our growing digital platform, our responsive team of logistics experts, and our resilient and flexible non-asset-based business model put us in a position to continue delivering strong financial results," Biesterfeld stated. "While we are pleased with our performance this quarter and the fact that both NAST and Global Forwarding delivered operating margins above our publicly stated targets, we know that we have work to do to consistently deliver at our targeted level. The work that the team is executing related to scaling our model, eliminating internal legacy processes and improving quality, while working backwards from the needs of our customers and carriers, will drive continued improvement in operating profits long-term. As we look to the second half of the year, we are watching economic conditions closely, and the management team and board continue to consider all strategies to grow operating profits and maximize long-term shareholder returns through all phases of the business cycle and various economic scenarios."

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

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