Nasdaq-listed global logistics platform C.H. Robinson reported a 42 percent in total revenue to $6.8 billion for the first quarter ended March 31, 2022, driven primarily by both higher pricing and higher volume across services.
Adjusted gross profit increased 29 percent to $906 million, adjusted operating margin increased 630 basis points to 38.1 percent, diluted earnings per share (EPS) increased 60 percent to $2.05, according to an official statement.
“In our first quarter, we delivered record quarterly profits,” says Bob Biesterfeld, President and Chief Executive Officer, C.H. Robinson. “Sequential improvement was driven by significant operating margin expansion in our North American Surface Transportation (NAST)) business as we improved the health of our contractual truckload business, continued to grow our truckload volume, and improved the profitability of our less-than truckload (LTL) business. Our global forwarding team continued delivering excellent service to our customers and collaborating with our carriers, driving more business to our platform. And finally, our Robinson Fresh, Managed Services and Europe Surface Transportation businesses all improved their top line growth and operating income on a year-over-year basis.”
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