The Eden Prairie, Minn.-based third-party logistics provider’s total revenues for the quarter surged 11.1 percent year-over-year, fueled by volumes increases across all transportation services and higher fuel prices.
C.H. Robinson’s net income totaled $122.1 million for the first quarter of 2017, an increase of 2.6 percent year-over-year, according to the company’s latest financial statements.
The Eden Prairie, Minn.-based third party logistics provider’s earnings per share (EPS) stood at $0.86 for the quarter, up from $0.83 for the corresponding period in 2016, and surpassing the Zacks consensus estimate of $0.80 per share and Stifel’s estimate of $0.82 per share.
Revenues reached $3.4 billion for the quarter, rising 11.1 percent year-over-year, fueled by volumes increases across all transportation services and higher fuel prices, C.H. Robinson said.
APC Logistics, which C.H. Robinson acquired for $300 million AUD (U.S. $223.8 million) at the close of business on Sept. 30, 2016, represented about 2 percent of C.H. Robinson’s total net revenues for the first quarter of this year, which increased 0.9 percent year-over-year to $568.6 million.
C.H. Robinson recently opened transportation offices in Prague, Czech Republic and Bucharest, Romania, following the opening of the company’s Bratislava, Slovakia office in 2016.
Overall, C.H. Robinson’s headcount for the first quarter of 2017 averaged 14,279 employees, up from an average of 13,251 employees for the first quarter of 2016.
Looking ahead, Stifel said it has increased its 2017 EPS estimate for C.H. Robinson from $3.60 to $3.65, and is maintaining its 2018 and 2019 EPS estimates of $3.90 and $4.25, respectively.
C.H. Robinson increases net income, revenues in Q1
