S&P 500 (NYSE:SPY) component C.H. Robinson Worldwide Inc. (NASDAQ:CHRW) reported its results for the third quarter. CH Robinson Worldwide is a third party logistics company which provides freight transportation and logistics solutions to a variety of clients.
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C.H. Robinson Worldwide Inc. Earnings Cheat Sheet
Results: Net income for C.H. Robinson Worldwide Inc. rose to $116.3 million (72 cents per share) vs. $114.3 million (70 cents per share) in the same quarter a year earlier. This marks a rise of 1.7% from the year-earlier quarter.
Revenue: Rose 6.9% to $2.88 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: C.H. Robinson Worldwide Inc. fell short of the mean analyst estimate of 73 cents per share. Analysts were expecting revenue of $2.9 billion.
The company has now seen its net income increase for three consecutive quarters. In the second quarter, net income rose 3.2% and in the first quarter, the figure rose 9.8%.
Revenue has increased for four consecutive quarters. Revenue increased 9.2% to $2.96 billion in the second quarter. The figure rose 7.9% in the first quarter from the year earlier and climbed 10.4% in the fourth quarter of the last fiscal year from the year-ago quarter.
The company fell short of estimates last quarter after being in line with expectations the quarter before with net income of 71 cents.
Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 71 cents per share, down from 75 cents ninety days ago. The average estimate for the fiscal year is $2.80 per share, down from $2.87 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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