Although the non-asset-based third-party logistics provider saw revenues fall 6.9 percent year-over-year in the second quarter of 2016 to $3.3 billion, net income rose 4.3 percent year-over-year to $143.1 million.
C.H. Robinson’s most recent financial statements revealed the company’s second quarter net income ticked up 4.3 percent year-over-year to $143.1 million.
Diluted earnings per share (EPS) totaled $1.00 per diluted share, compared to $0.94 per diluted share for the second quarter of 2015.
However, the non-asset based third-party logistics provider’s revenues for the quarter slipped 6.9 percent year-over-year to $3.3 billion.
“Our analysis of the company’s results suggests that about a third of the company’s year-over-year earnings per share growth was driven by 2 percent year-over-year operating income growth,” investment bank and analyst Stifel said.
Stifel noted that although C.H. Robinson’s net revenue margins rose from 16.5 percent for the second quarter of 2015 to 18 percent for the second quarter of this year, the positive impact was largely offset by the decline in total revenues.
In addition, Stifel said another third of the company’s year-over-year EPS growth was driven by a lower effective tax rate, while the company’s share repurchase program added the remaining third of the year-over-year EPS growth.
C.H. Robinson’s Q2 revenues fall nearly 7%
