EDEN PRAIRIE (dpa-AFX) - C.H. Robinson Worldwide, Inc. (CHRW) reported that its third quarter adjusted gross profits increased 5.1% to $887.2 million, primarily driven by higher adjusted gross profit per transaction in truckload, partially offset by the lower adjusted gross profit per transaction in ocean. Adjusted operating margin decreased 440 basis points to 32.4%.
Net income was $225.8 million, down 8.6% from a year ago. EPS was $1.78, down 3.8%.
On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $2.17, for the quarter. Analysts' estimates typically exclude special items.
Total revenues decreased 4.0% to $6.0 billion, driven primarily by lower ocean and air pricing, partially offset by higher pricing in less-than-truckload and truckload. Analysts on average had estimated $6.34 billion in revenue.
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