The third-party logistics provider increased net income and revenues by 15.1 percent and 3 percent, respectively, in the first half of 2015 compared to the same period last year.
BY BEN MEYER |WEDNESDAY, JULY 29, 2015
C.H. Robinson Worldwide, Inc. increased net income 15.7 percent to $137.21 million in the second quarter of 2015 and 15.1 percent to $243.68 million in the first half of 2015 compared to the same periods in 2014.
The third-party logistics provider grew its diluted earnings per share 17.5 percent, from $0.80 per share to $0.94 per share, for the quarter and 16.8 percent, from $1.43 per share to $1.67 per share, for the first six months of the year.
Quarterly and first half revenues at C.H. Robinson were up 1.2 percent to $3.55 billion and 3 percent to $6.85 billion, respectively, according to the company’s most recent financial statements.
Revenues for the company’s truckload segment grew 8.6 percent in Q2 2015 compared with Q2 2014. The 3PL said its acquisition of internet based freight broker Freightquote.com contributed approximately 3.5 percentage points to the segment’s net revenue growth.
C.H. Robinson purchased the Kansas City-based Freightquote for $365 million in cash on January 1, 2015.
Less-than-truckload net revenues increased 35.8 percent compared to the second quarter last year, and Freightquote contributed approximately 33 percentage points to net revenue growth in LTL segment.
The company’s LTL volumes grew 33 percent in the second quarter, with Freightquote contributing 20 percentage points the volume growth, said C.H. Robinson.
The 3PL increased intermodal net revenues 6.2 percent, with Freightquote contributing nine percentage points to the net revenue growth in the second quarter.
In its other units, net revenues were up 17.0 percent for ocean transportation, down 9.9 percent for air transportation, and up 6.4 percent for C.H. Robinson’s customs segment during the quarter.
“We had a great quarter with strong net revenue and net income growth across our network,” CEO and Chairman John Wiehoff said of the results.
“Our employees worked very hard, serving our customers, carriers, and suppliers with a focus on excellence and improving every day.”