CH Robinson: overall solid performance masks modal differences

Third-party logistics provider CH Robinson achieved net revenue of USD695.2m during the second quarter of 2019, up 3.5% year-on-year, in what chief executive Bob Biesterfeld described as a “solid performance”.

However, a breakdown according to different business areas reveals a mixed picture. While the strength of CH Robinson’s North American trucking activities bolstered the overall results, the company’s Global Forwarding segment saw its net revenue drop by 1.5% to USD141,936.

This was driven by a fall in both ocean and airfreight rates as well as a decline in airfreight volumes. Indeed, net revenues from airfreight fell by 15.4% for the quarter, to USD26,134.

On the other hand, the recently acquired Spanish forwarder Space Cargo Group contributed 3 percentage points of net revenue growth to the Global Forwarding segment during the second quarter.

Looking forward, Biesterfeld said he expects the soft freight environment to continue through the rest of 2019.

But: “Despite the current freight environment, our long-term goals remain unchanged,” he said. “We remain focused on taking market share, automating core processes while delivering industry-leading quality service to our customers and carriers, and improving operating leverage in our businesses.”

 

Share this story
Facebook
Twitter
LinkedIn

Related topics

Latest finance news

Agility see Q3 airfreight volumes fall

Logistics and infrastructure company Agility has announced Q3 results showing falling airfreight volumes amidst “challenging market conditions” for its Global…

Read More

Frankfurt Airport reports fall in freight

Freight at Frankfurt Airport fell by 8.0% in October compared with the same month in 2018, to 175,622 tonnes. Airport…

Read More

Cathay Group’s cargo volumes droop in October

Cathay Pacific and Cathay Dragon carried 183,119 tonnes of cargo and mail in October, a drop of 4.9% compared to…

Read More