Wednesday, October 24, 2012
C.H. Robinson third quarter profits improve
C.H. Robinson's third quarter earnings increased 1.7 percent on improved sales. Total revenue rose 6.9 percent to $2.88 billion.
The logistics company posted a profit of $116.3 million, or 72 cents a share, up from $114.3 million, or 70 cents a share.
C. H. Robinson experienced particular strength in its trucking business, with revenue rising 2.1 percent and volumes improving about 8 percent in that division.
Intermodal revenue dropped 4.4 percent and air revenue decreased 9 percent, while ocean sales were up 3.5 percent and other logistics services rose by 17 percent.
The stock hit its lowest rate in two years in July 2012 and is down 13 percent since the beginning of the year.
For more of the Wall Street Journal story: marketwatch.com
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