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C.H. Robinson's (CHRW) first-quarter 2024 revenues bear the brunt of lower pricing in its truckload services, partially offset by higher pricing and increased volume in its ocean services.
C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW ) Q1 2024 Earnings Conference Call May 1, 2024 5:00 PM ET Company Participants Chuck Ives - Director, Investor Relations Dave Bozeman - President and Chief Executive Officer Arun Rajan - Chief Operating Officer Mike Zechmeister - Chief Financial Officer Conference Call Participants Scott Group - Wolfe Research Jeff Kauffman - Vertical Research Partners Christopher Kuhn - Benchmark Company Stephanie Moore - Jefferies Elliot Alper - TD Cowen Tom Wadewitz - UBS Jonathan Chappell - Evercore ISI Operator Good Afternoon, ladies and gentlemen, and welcome to the C.H. Robinson First Quarter 2024 Conference Call.
The headline numbers for C.H. Robinson (CHRW) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
C.H. Robinson Worldwide (CHRW) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.98 per share a year ago.
C.H. Robinson's (CHRW) first-quarter 2024 revenues are expected to have been weighed down by the lower pricing in its ocean and truckload services.
As the state of Maryland works to recover from the Baltimore bridge disaster, potential long-term financial consequences are becoming present. With each passing day, the gargantuan task of recovering and removing debris from the seafloor slows Baltimore's local economy.
C.H.Robinson's (CHRW) results have been impacted by weak freight demand and lower pricing. Moreover, the company's investment in technology may affect its bottom line in the near term.
Revenue woes due to weak freight conditions are very concerning for C.H. Robinson (CHRW).
C.H. Robinson (CHRW) reported earnings 30 days ago. What's next for the stock?
Lower pricing in the ocean and truckload services and overall weak freight demand hurt C.H. Robinson's (CHRW) fourth-quarter 2023 results.