Third party logistics provider C.H. Robinson Worldwide said its income jumped 14.7% to $26 million in the third quarter, and that its net income for the first nine months rose 13.6% to $72 million.
Much of those gains came from a 5.2% increase in Minneapolis-based C.H. Robinson's trucking services, making up the bulk of the company's 7.8% rise in overall transportation business. The company has contracts with 20,000 trucking companies in the U.S. to provide transportation services.
"We're encouraged that growth in our core truck business is strengthening," said CEO John Wiehoff. However, he noted that the increase in truck transportation business was driven by volume growth, as gross profit per transaction declined due to rising costs of capacity.