C.H. Robinson nets higher 3Q income

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
Oct. 24, 2002
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.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.

 

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