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C.H. Robinson (CHRW) Likely to Get a Permanent CEO Soon
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C.H. Robinson Worldwide (CHRW - Free Report) has been on the lookout for a permanent CEO, as Bob Biesterfeld stepped down on Dec 31, 2022. Scott Anderson has been serving as the interim CEO of United States’ largest freight broker since Jan 1.
However, the search for a permanent CEO is likely to end soon. CHRW is in advanced talks with Jim Barber to name him as the next chief executive officer. Notably, Barber was appointed to CHRW’s board of directors in December 2022.
Barber has immense administrative experience, having retired in 2020 as United Parcel Service’s (UPS - Free Report) chief operating officer. In that capacity, he was responsible for international and U.S. operations, freight forwarding, distribution and logistics, freight brokerage, customs brokerage among others.
Before being appointed as UPS’ COO, Barber served as president of the company’s international operations from 2013-2018. In that role, he was responsible for various functions including distribution, forwarding, small-package delivery, brokerage, customs compliance, and other service offerings at UPS across multiple countries and territories outside the United States.
Given his high experience investors would keenly await if Barber is indeed appointed as CHRW’s next CEO.
Investors interested in the Zacks Transportation sector may consider the following stocks.
Alaska Air Group (ALK - Free Report) is being aided by the improved air-travel-demand situation. For the fourth quarter of 2022 ALK reported better-than-expected results. It expects a 23-29% increase in the top line during first-quarter 2023. ALK has been increasing its capacity to meet the upbeat demand. Capacity is expected to increase 11-14% in the first quarter of 2023
The Zacks Consensus Estimate for Alaska Air's first-quarter earnings has been revised upward by 29.4% in the past 60 days. The stock currently holds a Zacks Rank of 2 (Buy).
United Airlines (UAL - Free Report) , currently carrying a Zacks Rank of 2, is seeing steady recovery in domestic and leisure air-travel demand. On the back of upbeat air-travel demand, UAL was profitable in fourth-quarter 2022. The fourth quarter was the third consecutive profitable quarter at UAL.
Driven by solid demand, management expects total revenue per available seat mile to grow almost 25% year over year for the first quarter of 2023. Total revenues are anticipated to grow almost 50% year over year.
The Zacks Consensus Estimate for first-quarter 2023 earnings has been revised upward by more than 100% in the past 60 days.
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C.H. Robinson (CHRW) Likely to Get a Permanent CEO Soon
C.H. Robinson Worldwide (CHRW - Free Report) has been on the lookout for a permanent CEO, as Bob Biesterfeld stepped down on Dec 31, 2022. Scott Anderson has been serving as the interim CEO of United States’ largest freight broker since Jan 1.
However, the search for a permanent CEO is likely to end soon. CHRW is in advanced talks with Jim Barber to name him as the next chief executive officer. Notably, Barber was appointed to CHRW’s board of directors in December 2022.
Barber has immense administrative experience, having retired in 2020 as United Parcel Service’s (UPS - Free Report) chief operating officer. In that capacity, he was responsible for international and U.S. operations, freight forwarding, distribution and logistics, freight brokerage, customs brokerage among others.
Before being appointed as UPS’ COO, Barber served as president of the company’s international operations from 2013-2018. In that role, he was responsible for various functions including distribution, forwarding, small-package delivery, brokerage, customs compliance, and other service offerings at UPS across multiple countries and territories outside the United States.
Given his high experience investors would keenly await if Barber is indeed appointed as CHRW’s next CEO.
Zacks Rank & Key Picks
CHRW currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Investors interested in the Zacks Transportation sector may consider the following stocks.
Alaska Air Group (ALK - Free Report) is being aided by the improved air-travel-demand situation. For the fourth quarter of 2022 ALK reported better-than-expected results. It expects a 23-29% increase in the top line during first-quarter 2023.
ALK has been increasing its capacity to meet the upbeat demand. Capacity is expected to increase 11-14% in the first quarter of 2023
The Zacks Consensus Estimate for Alaska Air's first-quarter earnings has been revised upward by 29.4% in the past 60 days. The stock currently holds a Zacks Rank of 2 (Buy).
United Airlines (UAL - Free Report) , currently carrying a Zacks Rank of 2, is seeing steady recovery in domestic and leisure air-travel demand. On the back of upbeat air-travel demand, UAL was profitable in fourth-quarter 2022. The fourth quarter was the third consecutive profitable quarter at UAL.
Driven by solid demand, management expects total revenue per available seat mile to grow almost 25% year over year for the first quarter of 2023. Total revenues are anticipated to grow almost 50% year over year.
The Zacks Consensus Estimate for first-quarter 2023 earnings has been revised upward by more than 100% in the past 60 days.