C.H. Robinson reports 11% increase in total revenue for third quarter

C.H. Robinson Worldwide, Inc. has reported its financial results for the quarter ended September 30, 2011. Total revenue increased 11.3% from $2.4bn in 2010 to $2.7bn in 2011.

Truck net revenues increased 13.1% in the third quarter of 2011 compared to third quarter 2010. Truckload volumes increased approximately 4% during the quarter. LTL net revenues increased approximately 28%. The increase was driven by an increase in total shipments of approximately 15% as well as pricing increases.

In the company’s other key reporting segments, intermodal net revenue increased 14.7% in the third quarter of 2011. This was due to increased volumes and price increases. Ocean transportation net revenues increased 4.8%, driven primarily by increased volumes. Air transportation net revenue decreased 13.2% in the third quarter of 2011 due to decreased volumes and net revenue margin compression.

Other logistics services, which include transportation management fees, customs, warehousing, and small parcel, increased 0.6% in the third quarter of 2011. Increases in management fee and customs net revenues were largely offset by declines in the other services in this category.

For the third quarter, Sourcing revenues increased 5.0%. Sourcing net revenues increased 3.7% to $33.1m in 2011 from $31.9m in 2010, primarily driven by a change in mix of business due to an increase in value-added services.

Operating expenses increased 10.6% to $239.1m in 2011 from $216.2m in 2010. This was due to an increase of 10.0% in personnel expense and an increase of 12.3% in other selling, general, and administrative expenses. For the third quarter, operating expenses as a percentage of net revenues were 56.5% in both 2011 and 2010.

Quelle: eyefortransport
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