Freight brokerage and 3PL sees healthy gains in truckload and ocean segments, while profit for the year rises nearly 10 percent on $3.7 billion in total revenue.
The freight brokerage and third party logistics services provider C.H. Robinson saw operating income rise 21 percent year-over-year in the fourth quarter of 2014, to $187.7 million, according to quarterly financials released by the company.
That increase came on a 6.5 percent year-over-year increase in revenue in the quarter, to $3.4 billion. For the calendar year, the company’s operating profit rose 9.6 percent, to $748.4 million on revenue that grew 5.6 percent, to $13.5 billion.
The company’s biggest single revenue component, truckload brokerage, had $295.2 million in net revenue in the fourth quarter, a 15.3 percent year-over-year increase. For the year, truckload net revenue rose 11.7 percent, to nearly $1.2 billion.
“2014 was a very good year for us,” said John P. Wiehoff, chairman and chief executive officer of C.H. Robinson. “We were successful in achieving our long term target of double digit earnings per share growth and we made good progress with many strategic initiatives. We did a great job of adjusting to very significant changes in North America surface transportation market conditions. Global forwarding was able to continue earning more market share and expanding our global offerings to our customers. We were able to drive positive change and productivity to serve our customers and providers in more efficient ways.”
The company said its average North America truckload rate per mile charged to customers increased approximately 12 percent in the fourth quarter, excluding the estimated impacts of the decrease in fuel price. North America truckload transportation costs increased roughly 11 percent, excluding changes in fuel costs.
C.H. Robinson Q4 profit surges 21 percent
