Have A Question?
Contact us
UK Ireland
T: 44 (0) 1707 37 22 11
E:info@analytiqa.com
T: 353 (0) 16 40 18 18
E:info@analytiqa.com
#

C.H. Robinson reports flat 205 revenues as profits climb 02 February 2016

FTL net revenues increase 10.6% as LTL climbs 39.3%

C.H. Robinson Worldwide has reported flat revenues for 2015, at US$13,476.1 million. Net revenues climbed 13.0% to US$2,268.5 million as operating income increased 14.7% to reach US$858.3 million. Net income increased 13.3% to reach US$509.7 million.

In Q4, 2015, revenues declined 4.4% to US$3,210.9 million. Net revenues climbed 13.7% to US$570.8 million as operating income increased 13.4% to reach US$356.2 million. Net income increased 12.1% to reach US$126.6 million.

Truckload net revenues increased 13.4% in Q4, 2015 compared to Q4, 2014. Organic truckload net revenues increased approximately 10.0% in Q4, 2015 compared to Q4, 2014. The acquisition of Freightquote.com on January 1, 2015 contributed approximately 3.5 percentage points to truckload net revenue growth in Q4, 2015. North American truckload volumes increased approximately 5.0% in Q4, 2015 compared to the same period of 2014. North American truckload volumes, excluding Freightquote, increased approximately 2.0% in Q4, 2015 compared to Q4, 2014. The truckload net revenue margin increased Q4, 2015 compared to Q4, 2014, due primarily to lower transportation costs, including fuel. In North America, excluding the estimated impacts of the reduction in fuel costs, average truckload rate per mile charged to customers decreased approximately 3.0% in Q4, 2015 compared to Q4, 2014. In North America,r truckload transportation costs decreased approximately 5.0%, excluding the estimated impacts of the reduction in fuel costs.

Less-than-truckload net revenues increased 41.4% in Q4, 2015 compared to Q4, 2014. Freightquote contributed approximately 32 percentage points to LTL net revenue growth in Q4, 2015. LTL volumes increased approximately 36.0% in Q4, 2015 compared to Q4, 2014. Organic LTL volume increased approximately 17.0% in Q4, 2015 compared to Q4, 2014. Net revenue margin increased in Q4, 2015 compared to Q4, 2014. This was primarily the result of a change in freight mix with more small customers from the higher margin Freightquote business.

Intermodal net revenues decreased 13.7% in Q4, 2015 compared to Q4, 2014, notwithstanding the increase in intermodal net revenues attributed to Freightquote. Conversion to truckload from intermodal negatively impacted intermodal volumes and net revenues in Q4, 2015.

Ocean transportation net revenues decreased 1.5% in Q4, 2015 compared to Q4, 2014. The decrease in net revenues was primarily due to lower rates charged to customers, offset partially by decreased costs and higher volumes.

Air transportation net revenues decreased 4.1% in Q4, 2015 compared to Q4, 2014. The decrease was due to lower rates charged to customers, partially offset by increased net revenue margin.

Customs net revenues decreased 1.3% in Q4, 2015 compared to Q4, 2014. The decrease was due to lower rates, partially offset by higher volume.

Other logistics services revenues, which includes managed services, warehousing, and small parcel, increased 16.1% in Q4, 2015 compared to Q4, 2014 primarily from volume growth in managed services. Freightquote contributed approximately two percentage points to other logistics services net revenue growth in Q4, 2015.

Sourcing net revenues increased 11.9% in Q4, 2015 compared to Q4, 2014. This increase was primarily due to an increase in net revenue per case and a case volume increase of 4.5% across a variety of commodities and services.

For Q4, operating expenses increased 13.4% to US$356.2 million in 2015 from US$314.1 million in 2014. Operating expenses as a percentage of net revenues decreased to 62.4% in Q4, 2015 from 62.6% in Q4, 2014.