C.H. Robinson Worldwide, Inc. today reported financial results for the quarter ended September 30, 2023.
Third Quarter Key Metrics:
- Gross profits decreased 28.9% to $626.6 million
- Income from operations decreased 60.5% to $113.5 million
Adjusted operating margin decreased 1,450 basis points to 17.9% - Adjusted operating margin - excluding restructuring, decreased 1,070 basis points to 21.7%
- Diluted earnings per share (EPS) decreased 61.8% to $0.68
- Adjusted EPS decreased 52.8% to $0.84
- Cash generated by operations decreased by $420.2 million to $205.2 million
"As has been well documented by many industry participants and observers, global freight demand continued to be weak in the third quarter," said C.H. Robinson's President and Chief Executive Officer, Dave Bozeman.
"We are staying focused on what we can control, by providing superior service to our customers and carriers, executing on our plans to streamline our processes by removing waste and manual touches, and delivering tools that enable our customer- and carrier-facing employees to allocate their time to relationship building and exception management. Our focus on delivering quality and improvements to our customers, such as enhanced visibility and increased automation, has been reflected in very positive feedback from customers and validated by net promoter scores this year that are the highest on record for the company, which we believe sets us up well with customers for the eventual positive inflection in the freight market."
For more information: 
Chuck Ives
C.H. Robinson Inc.
Email: chuck.ives@chrobinson.com
https://investor.chrobinson.com