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C.H. Robinson (CHRW) Beats on Earnings & Revenues in Q4
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C.H. Robinson Worldwide Inc.'s (CHRW - Free Report) fourth-quarter 2016 earnings per share of 86 cents beat the Zacks Consensus Estimate of 84 cents. However, earnings declined 2.2% year over year due to higher costs.
Total revenue increased 6.4% year over year to $3,415 million and beat the Zacks Consensus Estimate of $3,335 million. Volume growth drove the top line. Total operating expenses climbed 3.3% year over year to $368 million, resulting in an operating ratio (operating expenses as a percentage of net revenue) of 65.5% compared with 62.4% a year ago.
From this quarter, the company has started reporting through three segments – North American Surface Transportation (“NAST”), Global Forwarding, and Robinson Fresh. While total revenue at NAST was $2.3 billion, revenues at the Global Forwarding division were $476 million and total revenue at Robinson Fresh was $529.4 million.
Below we give a historical presentation of results on an enterprise basis
Transportation: The unit (comprising Truckload, Intermodal, Less-than-Truckload, Ocean, Air, Customs and Other logistics services) reported net revenue of $535.6 million in the fourth quarter of 2016, down 1.5% from the year-ago quarter. Lower truckload margins hurt results.
Truckload net revenue declined 12.4% year over year to $296.7 million. Net revenue at Less-than-Truckload increased 5.2% year over year to 94.3 million.
Net revenue at the Intermodal segment declined 14.9% year over year to $7.5 million. The presence of alternative lower cost truck market hurt Intermodal opportunities.
Net revenue at the Ocean transportation segment increased 23.1% year over year to $69 million. The same at the Air transportation division increased 27.6% year over year to $23.7 million. Customs net revenue improved 48.5% to $15.9 million.
Net revenue at Other logistics services jumped 33.9% year over year to $28.4 million on the back of growth in managed services.
Sourcing: Net revenue at the segment fell 3.5% year over year to $25.9 million.
C.H. Robinson Worldwide, Inc. Price, Consensus and EPS Surprise
C.H. Robinson, which carries a Zacks Rank #3 (Hold), exited 2016 with cash and cash equivalents of approximately $247.7 million compared with $168.3 million at the end of 2015. Long-term debt was $500 million at the end of 2016, unchanged from the figure recorded at the end of 2015. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Other Important Releases Coming Up
Investors in the broader transportation space keenly await the fourth-quarter earnings reports of Spirit Airlines (SAVE - Free Report) , Alaska Air Group (ALK - Free Report) and Expeditors (EXPD - Free Report) , slated for release on Feb 7, Feb 8 and Feb 21, respectively.
Zacks' Top 10 Stocks for 2017
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Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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C.H. Robinson (CHRW) Beats on Earnings & Revenues in Q4
C.H. Robinson Worldwide Inc.'s (CHRW - Free Report) fourth-quarter 2016 earnings per share of 86 cents beat the Zacks Consensus Estimate of 84 cents. However, earnings declined 2.2% year over year due to higher costs.
Total revenue increased 6.4% year over year to $3,415 million and beat the Zacks Consensus Estimate of $3,335 million. Volume growth drove the top line. Total operating expenses climbed 3.3% year over year to $368 million, resulting in an operating ratio (operating expenses as a percentage of net revenue) of 65.5% compared with 62.4% a year ago.
From this quarter, the company has started reporting through three segments – North American Surface Transportation (“NAST”), Global Forwarding, and Robinson Fresh. While total revenue at NAST was $2.3 billion, revenues at the Global Forwarding division were $476 million and total revenue at Robinson Fresh was $529.4 million.
Below we give a historical presentation of results on an enterprise basis
Transportation: The unit (comprising Truckload, Intermodal, Less-than-Truckload, Ocean, Air, Customs and Other logistics services) reported net revenue of $535.6 million in the fourth quarter of 2016, down 1.5% from the year-ago quarter. Lower truckload margins hurt results.
Truckload net revenue declined 12.4% year over year to $296.7 million. Net revenue at Less-than-Truckload increased 5.2% year over year to 94.3 million.
Net revenue at the Intermodal segment declined 14.9% year over year to $7.5 million. The presence of alternative lower cost truck market hurt Intermodal opportunities.
Net revenue at the Ocean transportation segment increased 23.1% year over year to $69 million. The same at the Air transportation division increased 27.6% year over year to $23.7 million. Customs net revenue improved 48.5% to $15.9 million.
Net revenue at Other logistics services jumped 33.9% year over year to $28.4 million on the back of growth in managed services.
Sourcing: Net revenue at the segment fell 3.5% year over year to $25.9 million.
C.H. Robinson Worldwide, Inc. Price, Consensus and EPS Surprise
C.H. Robinson Worldwide, Inc. Price, Consensus and EPS Surprise | C.H. Robinson Worldwide, Inc. Quote
Liquidity
C.H. Robinson, which carries a Zacks Rank #3 (Hold), exited 2016 with cash and cash equivalents of approximately $247.7 million compared with $168.3 million at the end of 2015. Long-term debt was $500 million at the end of 2016, unchanged from the figure recorded at the end of 2015. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Other Important Releases Coming Up
Investors in the broader transportation space keenly await the fourth-quarter earnings reports of Spirit Airlines (SAVE - Free Report) , Alaska Air Group (ALK - Free Report) and Expeditors (EXPD - Free Report) , slated for release on Feb 7, Feb 8 and Feb 21, respectively.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>