C.H. Robinson Worldwide Inc

CHRW: XNAS (USA)
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Freight Downturn Puts C.H. Robinson's Q4 Operating Margins to the Test

C.H. Robinson’s fourth-quarter gross revenue fell 22% year over year; below our forecast on softer-than-expected contractual truckload pricing and rapid deterioration in the global forwarding backdrop. The overall theme is that retail-sector restocking has dried up on high inventory levels, and industrial end markets are softening, driving down demand and customer pricing for truck brokerage, or NAST, and global forwarding units, especially relative to robust levels a year ago.

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