C.H. Robinson reports higher 3Q profit

   C.H. Robinson Worldwide said it had a profit of $116.3 million in the third quarter, 1.7 percent more than the $114.3 earned in the same 2011 period.
   Total revenues in the third quarter were $2.88 billion, up 6.9 percent from the $2.69 billion in the same 2011 period.
   Third quarter net revenues were $432.7 million, up 2.3 percent from $423.1 million in the third quarter of 2011.
   During the quarter, truck net revenues, which consist of truckload and less-than-truckload services, increased 2.1 percent in the third quarter of 2012 over the comparable period a year earlier. Truckload volumes were up 8 percent, while truckload net revenue margin decreased due to increased cost per mile. LTL net revenues increased about 11 percent. The increase was driven by an increase in total shipments of about 17 percent, partially offset by decreased net revenue margin.
   Intermodal net revenues at C.H. Robinson decreased 4.4 percent due to decreased net revenue margin, offset partially by volume growth. The net revenue margin decline was due to a change in the third party logistics services provider’s mix of business and increased cost of capacity.
   Ocean transportation net revenues increased 3.5 percent in the third quarter of 2012, due to increased pricing partially offset by volume declines, while air freight’s net revenues decreased 9.0 percent in the third quarter of 2012 due to pricing declines, also partially offset by volume increases, the Eden Prairie, Minn.-based company said. – Chris Dupin