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C.H. Robinson Worldwide, Inc. (symbol: CHRW) is a leading global third-party logistics (3PL) provider, recognized for its comprehensive supply chain solutions and innovative logistics services. The company specializes in simplifying global supply chains and helping businesses understand their landed costs. By leveraging the expertise of supply chain engineers and logistics professionals, C.H. Robinson offers practical solutions that enhance the competitiveness of companies of all sizes.
C.H. Robinson's core services include local truck transportation, global supply chain management systems, produce sourcing, and logistics outsourcing. The company integrates advanced technology to help businesses manage their supply chain spend effectively. This technology collects data from various points across the supply chain, providing businesses with critical global supply chain visibility and insights.
As a non-asset-based third-party logistics provider, C.H. Robinson focuses significantly on domestic freight brokerage, which constitutes approximately 61% of its net revenue. This segment primarily involves truck brokerage but also includes rail intermodal services. Additionally, the company's air and ocean forwarding division, which makes up 27% of net revenue, has expanded through both organic growth and strategic acquisitions. The remainder of the company's revenue comes from its European truck-brokerage division, transportation management services, and its legacy produce-sourcing operations.
Recent achievements of C.H. Robinson include various strategic partnerships and enhancements to its technology platform, aimed at providing clients with even greater efficiency and cost savings. The company's continued focus on innovation and customer-centric solutions has solidified its position as a trusted partner in the logistics industry.
C.H. Robinson Worldwide reported financial results for Q1 2023, revealing a 32.3% decline in total revenues to $4.6 billion, largely due to reduced pricing in ocean and truckload services. Gross profits fell 24.7% to $678.3 million, with dilutive EPS dropping 53.2% to $0.96. The adjusted operating margin decreased by 1,460 basis points to 23.5%. Despite these declines, cash generated from operations improved to $254.5 million. The company is implementing a restructuring plan aimed at reducing personnel expenses by $100 million. Interim CEO Scott Anderson noted shifting market conditions due to oversupply and a competitive landscape. The company aims to foster profitable growth through cost reductions while enhancing customer and carrier experiences.
C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW) will release its first quarter 2023 results after market close on April 26, 2023. A conference call will be held from 5:00 pm to 6:00 pm Eastern Time that same day, featuring Interim CEO Scott Anderson and other key executives. Investors can access the presentation slides and a live audio webcast through the company's investor relations website. C.H. Robinson manages $30 billion in freight and handles 20 million shipments annually, playing a significant role in global logistics. For more details, visit investor.chrobinson.com.
C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW) announced a quarterly cash dividend of $0.61 per share, payable on April 3, 2023, to shareholders on record as of March 3, 2023. This dividend marks a continuation of the company’s commitment to returning cash to investors and reflects a strong track record of uninterrupted annual dividend increases over the past 25 years. Additionally, C.H. Robinson has been added to the S&P 500 Dividend Aristocrats Index, a recognition given to companies that have consistently raised dividends for at least 25 consecutive years. As of February 8, 2023, C.H. Robinson had approximately 116.4 million shares outstanding.
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