CH Robinson beats Q4 profit estimates on cost cuts
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E-mail(Reuters) - Global freight forwarder CH Robinson's fourth-quarter profit beat analysts' estimates on Wednesday, aided by cost cuts and strong demand in ocean and air shipment.
The company's ocean services business focuses on managing freight costs and optimizing shipping routes, while ensuring compliance with international regulations for carriers and helping them navigate complexities of international shipping.
The Minnesota-based company posted adjusted income of $1.21 per share for the quarter ended Dec. 31, compared with analysts' average estimate of $1.11 per share, according to data compiled by LSEG.
Total revenue fell nearly 1% to $4.18 billion. Its operating expenses declined 2%.
(Reporting by Abhinav Parmar and Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)
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