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.
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.
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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.
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.
Click here for a peek at this private information >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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