4/24/2012 6:00:00 PM
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Transportation and third-party logistics firm C.H. Robinson Worldwide reported a first-quarter profit of $106.5 million, or 65 cents a share, up 9.8% from $97 million, or 59 cents, a year earlier.
Revenue grew 7.9% to $2.55 billion, the company said late Tuesday. Transportation net revenue rose 7.1% to $367.2 million.
Truck net revenue, including truckload and less-than-truckload services, gained 7.1% to $315.4 million. Truckload volumes increased 8%, but truckload margins decreased compared to last year’s quarter due to higher cost per mile and higher fuel prices. LTL revenues grew 13%, driven by a 13% increase in shipments and pricing increases.
Intermodal net revenue edged up 1.2% to $9.7 million due to higher volume and price increases.
C.H. Robinson is ranked No. 6 on the Transport Topics Logistics 50 listing of North American logistics firms.
Â© 2012, Transport Topics Publishing Group. All rights reserved.
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