Why Shares of C.H. Robinson Worldwide Are Falling Today
Shares of C.H. Robinson Worldwide (NASDAQ: CHRW) traded down 10% on Wednesday following the company's earnings report. The company's earnings-per-share number actually came in ahead of expectations, but operating income was light, and the next few quarters are shaping up to be a challenge for the transportation and logistics company.
C.H. Robinson, after markets closed Tuesday, reported third-quarter earnings of $1 per share on revenue of $4.2 billion, besting Wall Street expectations for $0.97 per share in earnings on sales of $3.88 billion. Total revenue was up 9.6% year over year, driven by strong pricing power and higher volumes, but operating income of $168 million fell short of analysts' $179 million target.
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Source Fool.com
