C.H. Robinson Q3 profit up 15 percent

The freight broker and 3PL sees a healthy gain in the truckload, LTL and ocean segments of its business.    The non-asset-based freight brokerage and third party logistics services provider C.H. Robinson said Tuesday its third quarter operating profit rose 15.3 percent, year-over-year, to $203.3 million.
   The company’s revenue in the quarter rose 4.5 percent to $3.5 billion. Year-to-date, C.H. Robinson’s operating profit is up 6.3 percent to $560.7 million, and its revenue is up 5.4 percent to $10.1 billion.
   Driving the increase in revenue and profitability was sizable growth in the company’s truckload volumes, with net revenue growing 15.8 percent, year-over-year, to $307.4 million. Less-than-truckload net revenue rose 10.6 percent, to nearly $68 million, while ocean freight revenue rose 15.5 percent to $57.4 million.
   The company said its average truckload rate per mile charged to customers in North America increased approximately 10 percent in the third quarter, while truckload costs increased approximately 8 percent, excluding the estimated impacts of the change in fuel. Increases, C.H. Robinson said, were largely the result of market conditions and a change in the mix of its business.