C H Robinson Worldwide Inc - CHRW STOCK NEWS

C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW), a leading global logistics provider, has announced its upcoming 2024 Investor Day to be held in New York City on Thursday, December 12. The event will feature presentations from key executives, including CEO Dave Bozeman and CFO Damon Lee, who will provide an in-depth look at the company's:

• Strategy
• Operating model
• Growth drivers
• Financial objectives

The event is scheduled from 9:00 a.m. to 12:00 p.m. ET and will include Q&A sessions. While in-person attendance is and requires registration, a live webcast will be available for remote participants at https://investor.chrobinson.com. An archived version of the webcast will be accessible after the event's conclusion.

C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW) has announced an increase in its quarterly cash dividend. The Board of Directors has declared a new dividend of $0.62 per share, up from the previous $0.61 per share. This dividend will be payable on October 1, 2024, to shareholders of record as of September 6, 2024. This increase continues C.H. Robinson's track record of distributing uninterrupted dividends with annual increases for over 25 years. As of August 7, 2024, the company had approximately 117,630,781 shares outstanding.

C.H. Robinson (CHRW) reported strong Q2 2024 results, with gross profits increasing 3.0% year-over-year to $676.5 million. Income from operations rose 34.3% to $178.1 million, while adjusted operating margin improved by 600 basis points to 25.9%. Diluted EPS increased 29.6% to $1.05, and adjusted EPS grew 25.0% to $1.15. The company's truckload business grew market share for the fourth consecutive quarter, with margin improvement. NAST segment saw a 4.8% increase in adjusted gross profits, while Global Forwarding segment's income from operations increased 38.2%. Despite an ongoing freight recession, C.H. Robinson is focusing on growing market share and expanding operating income margins through improved execution and cost optimization efforts.

C.H. Robinson (CHRW) has announced the sale of its European Surface Transportation (EST) business to sennder Technologies GmbH, a leading digital road freight forwarder in Europe. This strategic move aligns with C.H. Robinson's enterprise strategy to focus on its four core modes: North American truckload, less-than-truckload, global ocean, and air. The company remains committed to its global forwarding and managed services presence in Europe.

The transaction is expected to close in Q4 2024, subject to customary conditions and regulatory approvals. This acquisition will enhance sennder's growth opportunities and improve service offerings and digital capabilities. C.H. Robinson will continue to invest in key trade lanes, products, and technology within the European region through its Global Forwarding and TMC teams.

C.H. Robinson Worldwide (CHRW) will release its Q2 2024 earnings results after the market closes on Wednesday, July 31, 2024. A conference call to discuss the results will be held from 5:00 pm - 6:00 pm Eastern Time the same day. Investors can access the call via webcast or by dialing in 10 minutes early. Presentation slides will also be available on the company's investor relations website.

C.H. Robinson Worldwide (NASDAQ: CHRW) has appointed Arun Rajan as its Chief Strategy and Innovation Officer (CSIO), effective immediately. Previously serving as COO, Rajan will now focus on driving strategy and fostering innovation across the company. The CSIO role will encompass strategic planning, development, and deployment in partnership with the CFO and Senior Leadership Team to ensure long-term, sustainable growth. This move aligns with the company's commitment to operational excellence and innovation, underscoring its leadership in the logistics industry. The COO role will not be backfilled, reflecting the effectiveness of the company’s streamlined operating model.

C.H. Robinson has announced Damon Lee as its new Chief Financial Officer, effective July 8, 2024. Lee, currently serving as VP and CFO of GE Commercial Engines and Services, brings extensive experience in Lean and continuous improvement. He succeeds Mike Zechmeister, who will retire after the transition. Lee has a proven track record in financial leadership, having previously held roles at Aptiv, Precision Castparts, and Eaton. The hire aligns with Robinson's strategic goals and commitment to operational excellence and innovation.

C.H. Robinson Worldwide, Inc. announced a regular quarterly cash dividend of 61 cents per share, payable on July 1, 2024, to shareholders of record on June 7, 2024. The company has a history of consistent dividend payouts and has increased dividends annually for twenty-five years.

C.H. Robinson has introduced a groundbreaking technology that uses artificial intelligence to automate email-based transactions in the logistics industry, providing speed-to-market and cost savings to shippers. The new technology reads and responds to 2,000 emailed quote requests daily, significantly reducing response time and improving efficiency. This innovative approach enhances customer experience and operational effectiveness, setting a new standard in automation within the industry.