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C.H. Robinson (CHRW) Tops Earnings & Revenue Estimates in Q1
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C.H. Robinson Worldwide Inc.'s (CHRW - Free Report) first-quarter 2017 earnings per share of 86 cents beat the Zacks Consensus Estimate of 80 cents. Moreover, earnings increased 3.61% year over year. Results were aided by higher revenues.
Total revenue rose 11.10% year over year to $3415.1 million and beat the Zacks Consensus Estimate of $3328.2 million. Volume growth across all its transportation services drove the top line. Total operating expenses climbed 4.5% year over year to $380.61 million, resulting in an operating ratio (operating expenses as a percentage of net revenue) of 67%, compared with 64.7% in the year-ago quarter.
From fourth-quarter 2016, the company has reporting under three segments – North American Surface Transportation (NAST), Global Forwarding and Robinson Fresh. While total revenue at NAST was $2.3 billion (up 10.5% year over year), revenues at Global Forwarding totaled $468.8 million (up 33.5%) and Robinson Fresh was $550.4 million (down 2.4%).
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 $538.1 million in the first quarter of 2017, up 0.8% from the year-ago quarter.
Truckload net revenue fell 5.5% year over year to $304.1 million. Meanwhile, net revenue at Less-than-Truckload increased 6.9% year over year to $97.6 million.
Net revenue at the Intermodal segment declined 19.1% year over year to $7.5 million as the presence of alternative lower cost trucks hurt Intermodal opportunities.
Net revenue at the Ocean transportation segment climbed 7.2% year over year to $62.9 million. The same at the Air transportation division rose 18.5% year over year to $21.8 million. Customs net revenue advanced 49.9% to $16.1 million.
Net revenue at Other logistics services jumped 17.2% year over year to $28.1 million on the back of growth in managed services.
Sourcing: Net revenue at the segment increased 3.9% year over year to $30.41 million.
C.H. Robinson Worldwide, Inc. Price, Consensus and EPS Surprise
C.H. Robinson, which carries a Zacks Rank #3 (Hold), exited the first-quarter with cash and cash equivalents of $229.8 million compared with $247.7 million at the end of 2016. Long-term debt was $500 million at the end of the first quarter, unchanged from the figure recorded at the end of 2016. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Key Releases Coming Up
Investors in the broader transportation sector keenly await the first-quarter earnings reports of SkyWest, Inc. (SKYW - Free Report) , Spirit Airlines (SAVE - Free Report) and Air Lease Corporation (AL - Free Report) , slated for release on Apr 27, Apr 28 and May 4, respectively.
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
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C.H. Robinson (CHRW) Tops Earnings & Revenue Estimates in Q1
C.H. Robinson Worldwide Inc.'s (CHRW - Free Report) first-quarter 2017 earnings per share of 86 cents beat the Zacks Consensus Estimate of 80 cents. Moreover, earnings increased 3.61% year over year. Results were aided by higher revenues.
Total revenue rose 11.10% year over year to $3415.1 million and beat the Zacks Consensus Estimate of $3328.2 million. Volume growth across all its transportation services drove the top line. Total operating expenses climbed 4.5% year over year to $380.61 million, resulting in an operating ratio (operating expenses as a percentage of net revenue) of 67%, compared with 64.7% in the year-ago quarter.
From fourth-quarter 2016, the company has reporting under three segments – North American Surface Transportation (NAST), Global Forwarding and Robinson Fresh. While total revenue at NAST was $2.3 billion (up 10.5% year over year), revenues at Global Forwarding totaled $468.8 million (up 33.5%) and Robinson Fresh was $550.4 million (down 2.4%).
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 $538.1 million in the first quarter of 2017, up 0.8% from the year-ago quarter.
Truckload net revenue fell 5.5% year over year to $304.1 million. Meanwhile, net revenue at Less-than-Truckload increased 6.9% year over year to $97.6 million.
Net revenue at the Intermodal segment declined 19.1% year over year to $7.5 million as the presence of alternative lower cost trucks hurt Intermodal opportunities.
Net revenue at the Ocean transportation segment climbed 7.2% year over year to $62.9 million. The same at the Air transportation division rose 18.5% year over year to $21.8 million. Customs net revenue advanced 49.9% to $16.1 million.
Net revenue at Other logistics services jumped 17.2% year over year to $28.1 million on the back of growth in managed services.
Sourcing: Net revenue at the segment increased 3.9% year over year to $30.41 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 the first-quarter with cash and cash equivalents of $229.8 million compared with $247.7 million at the end of 2016. Long-term debt was $500 million at the end of the first quarter, unchanged from the figure recorded at the end of 2016. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Key Releases Coming Up
Investors in the broader transportation sector keenly await the first-quarter earnings reports of SkyWest, Inc. (SKYW - Free Report) , Spirit Airlines (SAVE - Free Report) and Air Lease Corporation (AL - Free Report) , slated for release on Apr 27, Apr 28 and May 4, respectively.
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
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