C.H. Robinson (NASDAQ:CHRW) saw its shares register gains after the company missed expectations from analysts polled by Refinitiv for the fourth quarter. The company posted $1.03 earnings per share on $5.07 in revenue. That compares with analysts’ estimates of $1.38 in per-share earnings on $5.68 billion in revenue.
Gross profits decreased 10.5% to $761.5 million. Income from operations decreased 42.9% to $164.0 million; Adjusted operating margin decreased 1,220 basis points to 21.4%
Said Interim CEO Scott Anderson, “"We're increasing our focus on delivering a scalable operating model to lower our costs, improve the customer and carrier experience and foster long-term profitable growth through cycles," said Scott Anderson, Interim Chief Executive Officer. "The current point in the cycle is one of shippers managing through elevated inventories amidst slowing economic growth, causing unseasonably soft demand for transportation services.”
C.H. Robinson, says its website, “solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $30 billion in freight under management and 20 million shipments annually, we are one of the world’s largest logistics platforms. “
CHRW shares acquired $1.09, or 1.1%, to $103.21.
