The third-party logistics provider’s net income increased to $126.58 million despite revenues dropping 4.4 percent to $3.21 billion compared to the fourth quarter of 2014, according to the company’s most recent financial statements.
C.H. Robinson increased its net income 12.1 percent to $126.58 million in the fourth quarter ending Dec. 31, 2015 compared to the fourth quarter of 2014, same according to the company’s most recent financial statements.
Revenues for the quarter, however, fell 4.4 percent year-over-year to $3.21 billion. Diluted earnings per share (EPS) stood at $0.88 per share in Q4 2015, up 14.3 percent from $0.77 per share in the same 2014 period.
For the full year in 2015, profits rose 13.3 percent to $509.7 million on revenues that remained flat at $13.48 billion compared to the previous year. Diluted EPS grew 15.1 percent year-over-year, from $3.05 per share in 2014 to $3.51 per share in 2015.
“Our team delivered great results in the fourth quarter and the full year in 2015,” said CEO and Chairman John Wiehoff. “The growth in net revenue, net income and earnings per share represent the effectiveness of our network and the positive outcomes we are delivering for customers.”
Truckload net revenues for the third-party logistics provider increased 13.4 percent to $338.89 million in the fourth quarter of 2015, while organic truckload net revenues were up around 10 percent compared to the fourth quarter of 2014. C.H. Robinson said its acquisition of Freightquote.com on Jan. 1, 2015 contributed about 3.5 percentage points to its truckload net revenue growth in Q4 2015.
Less-than-truckload (LTL) net revenues increased 41.4 percent to $89.62 million for the quarter, with Freightquote contributing 32 percentage points to C.H. Robinson’s LTL net revenue growth. The company said its LTL volumes grew 36 percent year-over-year in the fourth quarter of 2015, with organic LTL volume increasing around 17 percent.
Fourth quarter net revenues for the company’s intermodal segment stood at $8.84 million, down 13.7 percent compared to the fourth quarter of 2014, notwithstanding the increase in intermodal net revenues attributed to Freightquote.
C.H. Robinson’s ocean transportation net revenues dipped 1.5 percent $56.07 million for the quarter, primarily due to a higher net revenue margin and a small bump in volumes, the company said.
Air transportation net revenues fell 4.1 percent year-over-year to $18.61 million in the fourth quarter of 2015. The company attributed the decrease primarily to lower base rates, which were partially offset by an increase in net revenue margin.
Customs net revenues stood at $10.68 million, down 1.3 percent from the fourth quarter of 2014 due to lower rates, which were partially offset by increased transaction volumes.
Revenues from other logistics services, which includes managed services, warehousing, and small parcel, increased 16.1 percent year-over-year to $21.22 million in the fourth quarter, thanks primarily to volume growth in managed services. Freightquote contributed approximately two percentage points to our other logistics services net revenue growth in the fourth quarter of 2015.
Sourcing net revenues increased 11.9 percent to $26.85 million compared to the fourth quarter of 2014.
C.H. Robinson profits jump 12.1% in Q4
