C H Robinson Worldwide Inc - CHRW STOCK NEWS

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.

C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW) reported a challenging fourth quarter ending December 31, 2022, with total revenues falling 22.1% to $5.1 billion due to decreased pricing and volume. Gross profits dropped 10.5% to $761.5 million and diluted EPS fell 54% to $0.80. Full-year results showed total revenues increased 6.9% to $24.7 billion, and net income rose 11.4% to $940.5 million.

Interim CEO Scott Anderson emphasized a scalable operating model to enhance profitability amidst a softening market. The company remains focused on improving customer and carrier experiences, despite current economic challenges.

C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW) will release its fourth quarter 2022 results on February 1, 2023, after market close. A conference call is scheduled for 5:00 PM - 6:00 PM ET the same day, featuring key executives including Interim CEO Scott Anderson and CFO Mike Zechmeister. Investors can access presentation slides and an audio webcast online. C.H. Robinson, a leader in logistics, manages $28 billion in freight annually with 20 million shipments, offering extensive supply chain solutions.

C.H. Robinson Worldwide (Nasdaq: CHRW) has appointed Jose Rossignoli as the new president of Robinson Fresh, succeeding Michael Castagnetto. Rossignoli, with 20 years of experience and various leadership roles at Robinson Fresh, aims to enhance the company's supply chain solutions in fresh produce. His focus will be on integrating product and services to streamline operations for customers. The interim CEO, Scott Anderson, emphasized the importance of talented leadership for continued growth in logistics services.

C.H. Robinson has appointed Scott Anderson as Interim CEO, effective January 1, 2023, following the departure of Bob Biesterfeld as President and CEO on December 31, 2022. The Board is actively searching for a permanent replacement, engaging Russell Reynolds for this process. Anderson emphasized a commitment to a seamless transition and plans to advance strategic initiatives. The Board also reshaped its Audit and Governance Committees to ensure independent composition under the new leadership.

C.H. Robinson (Nasdaq: CHRW) announced the appointment of Jim Barber as a new director on its Board. Barber, who retired as COO of UPS in January 2020, brings 35 years of experience in transportation and logistics. He previously managed UPS's international operations and served on various boards, including US Foods. The Board expects Barber's expertise in innovative operating models and customer experience to enhance C.H. Robinson's strategic initiatives. The company, with $28 billion in freight under management, continues to be a leader in global logistics.

C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW) has increased its quarterly cash dividend to $0.61 per share from $0.55, payable on January 3, 2023 to shareholders on record by December 2, 2022. This marks the company's uninterrupted dividend distribution for over twenty years. With approximately 116 million shares outstanding as of November 16, 2022, C.H. Robinson manages $28 billion in freight and conducts around 20 million shipments annually, positioning itself as a leading logistics provider.