A mixed bag for C.H. Robinson
C.H. Robinson Worldwide has reported its results of 2020. Revenues surged by 5.9% to USD 16.2 billion, driven primarily by higher pricing in ocean and air services and contributions from the takeover of Prime Distribution Services, acquired in March 2020.
Meanwhile, the group's adjusted gross profits decreased by 6.7% to USD 2.4 billion, due primarily to lower adjusted gross profit margins in truckload services, and the income from operations totalled USD 673.3 million, down 14.8% from last year.
Net income totalled USD 506.4 million, down 12.2% from a year ago. In Q4/2020, total revenues gross profits for Robinson fresh, managed services and other surface transportation increased 6.1% to USD 429.4 million.
In the same period, Europe truckload adjusted gross profit was up 1.7% in the quarter due to a 7.0% volume increase and strength of the EUR. (sh)