C.H. Robinson: Revenues Rise Along With Truckload Volumes

April 22, 2010

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In the first quarter, C.H. Robinson's total revenues rose 22 percent as truckload volumes gained 22 percent from the first quarter of 2009.
The non-asset based third-party logistics provider said transportation revenues were up 24.3 percent from the year-ago quarter.

"We are very encouraged by our volume growth in transportation," said John P. Wiehoff, chairman and CEO. "While we have many ways to measure our success, shipment volume, market share, and the scope and strength of our relationships have always been some of the most critical metrics of our long-term performance. Those metrics all look positive to us for the first quarter of 2010."

Despite the increase in volumes, the company's truck sector saw net revenues down 5.6 percent from the first quarter 2009. Truck revenues consist of both truckload and less-than-truckload services. The company attributes the decrease to higher transportation costs, higher fuel prices and lower pricing to customers.

"Net revenue margin fluctuations are a part of our business model that we believe we are very capable of managing, but are difficult to predict and can have a significant impact on our results in the short term," Wiehoff said.

The company's intermodal net revenue dropped 13.3 percent, a result of the higher cost of transportation services.

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