C.H. Robinson increases net income 14.3%

The third-party logistics provider had a net income of $106.48 million on revenues of $3.3 billion in first quarter 2015.    C.H. Robinson Worldwide, Inc. reported a net income of $106.48 million in the first quarter of 2015, a 14.3 percent increase from the first quarter of 2014. According to the latest financial statements from the global third-party logistics provider, C.H. Robinson increased total revenues 5 percent to $3.3 billion for the quarter.
   Net revenues from the company’s truckload freight division grew 9.6 percent to $298.38 million in the first quarter of 2015 compared to the first quarter of 2014. C.H. Robinson attributed about a third of the truckload revenue growth to its acquisition of Freightquote.com on Jan. 1, 2015. North American truckload volumes at the 3PL increased six percent.
   C.H. Robinson’s less-than-truckload net revenues were up 42 percent for the period $85.37 million, and the company estimates Freightquote contributed approximately 34 percentage points to its LTL net revenue growth in Q1 2015. LTL volumes grew 28 percent in the first quarter, with Freightquote contributing an estimated 19 percentage points.
  Intermodal net revenues increased 17.6 percent $10.51 million, with Freightquote contributing around 10 percentage points, in the first quarter of 2015.
   The company increased ocean transportation net revenues 15.1 percent $50.19 million, while air transportation net revenues grew 18.2 percent to $20.64, both due primarily due to increased volumes and net revenue margin.
   Net revenues from C.H. Robinson’s customs unit revenues increased 10.0 percent to $10.26 in Q1 2015 compared to Q1 2014.
   The company’s other logistics services, which include managed services, warehousing, and small parcel, grew revenues 6.6 percent to $19.79 million in the first quarter of 2015. Freightquote contributed an estimated two percentage points to the increase in other logistics services net revenue.
   C.H. Robinson said revenue growth was offset slightly by increases in operating expenses, personnel expenses, and other selling, general, and administrative expenses. The company attributed these increases primarily to incentive plans designed to keep expenses variable with changes in net revenues and profitability, as well as the acquisition of Freightquote.