Despite C.H. Robinson’s full-year net income slipping 1.7 percent from 2016, in the fourth quarter alone, the third-party logistics provider’s net income surged 24.7 percent from 2016’s fourth quarter.
C.H. Robinson recorded a net income of $152.56 million for the fourth quarter of 2017, a 24.7 percent increase from the corresponding prior year period, according to the company’s latest financial statements.
The Eden Prairie, Minn.-based third-party logistics provider recorded total revenues of $3.96 billion for the quarter, up 16 percent year-over-year, surpassing the Zacks consensus estimate of $3.69 billion.
C.H. Robinson attributed the revenues boost to increased customer pricing, volumes and fuel costs in the majority of its transportation services.
Average headcount for the quarter hovered around 15,036, up from 14,074 for the fourth quarter of 2016.
For the full year of 2017, C.H. Robinson recorded a net income of $504.89 million, slipping 1.7 percent from 2016. However, total revenues held strong at $14.87 billion, rising 13.1 percent year-over-year.
C.H. Robinson closes out 2017 on high note
