The earnings call reflects a positive sentiment overall, highlighting strong operational execution and significant improvements in profit margins and productivity. However, challenges remain due to the prolonged freight recession and potential declines in ocean demand.

Company Guidance

In the third quarter of 2024, C.H. Robinson reported significant financial improvements, despite ongoing challenges in the freight market. The company achieved a 75% increase in enterprise Q3 adjusted income from operations, driven by a 15.8% year-over-year growth in adjusted gross profit (AGP). Notably, the Global Forwarding segment saw a remarkable 230% surge in adjusted income from operations, supported by a 7% increase in ocean shipments and a 20% rise in air tonnage. The North American Surface Transportation (NAST) division also delivered strong results, with a 21% year-over-year increase in adjusted gross profit per truckload and a 180 basis point improvement in gross margin. C.H. Robinson's focus on productivity led to a 9.6% reduction in headcount, aligning with their goal of achieving over 30% compound productivity growth from 2022 to 2024. The company expects personnel expenses for 2024 to remain below the midpoint of a $1.4 billion to $1.5 billion range, while SG&A expenses are anticipated to be at the low end of the $575 million to $625 million guidance. Looking forward, they continue to focus on lean operations, leveraging generative AI, and preparing for a potential freight market rebound.

Significant Growth in Global Forwarding

Global Forwarding reported a 230% year-over-year increase in adjusted income from operations, driven by a 7% increase in ocean shipments and a 20% increase in air tonnage.

Improvement in Adjusted Gross Profit

The adjusted gross profit (AGP) increased by $100 million or 15.8% year-over-year, indicating improved quality of volume and successful cost control strategies.

Successful Implementation of New Operating Model

The new operating model led to a 75% increase in enterprise Q3 adjusted income from operations, with a focus on expanding gross profit margins and improving operational leverage.

Efficiency Gains and Productivity Improvements

The company is on track to deliver greater than 30% compound growth in productivity over the 2-year period ending 2024, with a focus on decoupling headcount growth from volume growth.

Strong Performance in NAST Gross Margin

North American Surface Transportation (NAST) saw an 180 basis point improvement in gross margin, with AGP per truckload increasing by 21% year-over-year.

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CH Robinson (CHRW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CHRW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 29, 2025	2024 (Q4)	1.11 / -	0.5	―	―	―
Oct 30, 2024	2024 (Q3)	1.15 / 1.28	0.84	52.38% (+0.44)
Jul 31, 2024	2024 (Q2)	0.95 / 1.15	0.9	27.78% (+0.25)
May 01, 2024	2024 (Q1)	0.63 / 0.86	0.98	-12.24% (-0.12)
Jan 31, 2024	2023 (Q4)	0.81 / 0.50	1.03	-51.46% (-0.53)
Nov 01, 2023	2023 (Q3)	0.81 / 0.84	1.78	-52.81% (-0.94)
Aug 02, 2023	2023 (Q2)	0.92 / 0.90	2.518	-64.26% (-1.62)
Apr 26, 2023	2023 (Q1)	0.99 / 0.98	2.05	-52.20% (-1.07)
Feb 01, 2023	2022 (Q4)	1.36 / 1.03	1.74	-40.80% (-0.71)
Nov 02, 2022	2022 (Q3)	2.16 / 1.78	1.85	-3.78% (-0.07)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CHRW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 30, 2024	$109.00	$102.44	-6.02%
Jul 31, 2024	$87.99	$101.00	+14.79%
May 01, 2024	$70.74	$79.41	+12.26%
Jan 31, 2024	$81.84	$71.53	-12.60%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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