C.H Robinson Worldwide Inc. has released its financial results for the second quarter ended June 30, 2018. Total revenues increased 15.3% to $4.3bn in the second quarter, compared with $3.7bn in the second quarter 2017. This was largely driven by growth across all transportation service lines. Operating profit totalled $219.0m, up 20.5% from last year due to growth in North American Surface Transportation and Global Forwarding, partially offset by declines in Robinson Fresh and All Other segments.
Second quarter total revenue for C.H. Robinson’s NAST segment totalled $2.9bn, an increase of 20.9% over the prior year, primarily driven by increased pricing. As a result, operating profit increased 31.6% in the quarter. In the Global Forwarding segment, total revenue increased 16.8% to $617.6m primarily driven by volume growth across all service lines. Ocean net revenues increased 18.5% and air net revenues increased 17.4%. Furthermore, the operating profit increased 7.6% to $29.8m.
In the Robinson Fresh segment, the company reported declines in total revenue of 5.5% to $621m and operating profit of 35.2%, primarily driven by lower levels of customer promotional activity and declines in case volumes. All other segments of the company delivered increases in total revenue of 10.5% to $20.1m and operating profit of 8.5% to $15.0m, primarily due to increased pricing in Europe.
Source: C.H Robinson
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