CH Robinson reports results for third quarter 2009

Oct. 22, 2009
CH Robinson Worldwide Inc, provider of multimodal transportation services and logistics systems, has reported financial results for the quarter ended September 30, 2009.

CH Robinson Worldwide Inc, provider of multimodal transportation services and logistics systems, has reported financial results for the quarter ended September 30, 2009.

Consolidated total revenues decreased 15.6% in the third quarter of 2009 compared with the third quarter of 2008. The transportation revenue decline of 20.0% in the third quarter of 2009 was driven by falling transportation rates and volume declines in many of the firm’s transportation modes.

Total transportation net revenues decreased 0.2% to $309.8 million in the third quarter of 2009 from $310.4 million in the third quarter of 2008. The transportation net revenue margin increased to 19.8% in 2009 from 15.9% in 2008, largely driven by a decline in fuel prices and a lower cost of capacity.

Truck net revenues, which consist of truckload and less-than-truckload (LTL) services, rose 2.1% in the third quarter of 2009.

The intermodal net revenue decrease of 30.1% in the third quarter was driven largely by price declines combined with volume decreases. Net revenue margin was relatively consistent with the third quarter of 2008.

For the third quarter, operating expenses fell 2.6% to $197.8 million in 2009 from $203.0 million in 2008. As a percentage of net revenues, total operating expenses decreased slightly to 56.1% in the third quarter of 2009 from 57.7% in the third quarter of 2008.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

The Future of Mirrors is Closer Than it Appears

Why Mirror Camera Systems are the next step for fleet safety and exoneration While many commercial trucking cameras are similarly marketed, they are not all created equally. The...

The 20:1 Solution: Unlocking the ROI of a Modern Asset Maintenance Solution

Discover how modern fleet maintenance software can drive step-change improvements in shop efficiency, cost control and vehicle productivity, along with how to calculate the ROI...

Digital and AI Solutions for Rideshare Safety

Anyline’s study, “How Digital AI Solutions Can Enhance Rideshare Safety,” reveals rideshare drivers are overly confident in their tire knowledge, risking passenger safety. Download...

Introducing the World’s First Mobile Tire Tread Scanner

Anyline’s innovation allows accurate tire tread measurement via any mobile device, ensuring legal compliance for fleets. Read more and find out how you can cut operating costs...