C.H. Robinson’s Sell Rates Push Higher on Tight Truckload Capacity; Gross Margins Recovering
Wide-moat C.H. Robinson’s fourth-quarter gross revenue increased 16% year over year (in line with our forecast) on an acceleration in pricing gains (sell rates to shippers) across the truck brokerage businesses, which are benefiting from a material tightening in truckload-industry capacity. The firm’s global forwarding division also enjoyed rate gains, along with strong airfreight volumes. Operating profitability is tracking our expectations. Although we didn’t alter our midcycle performance ass...Robinson (C.H.) Worldwide is a third party logistics company. The company provides freight transportation services and logistics solutions to companies. The company's segments are: North American Surface Transportation, which provides freight transportation services across North America through a network of offices; and Global Forwarding, which provides global logistics services through an international network of offices and also contracts with independent agents; and All Other and Corporate, which includes Robinson Fresh? that provides sourcing services including the buying, selling, and marketing of fresh fruits, vegetables, and other perishable items, and managed services that provides Managed TMS?.
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