Skip to Content

C.H. Robinson Worldwide Inc CHRW

Rating as of

Morningstar’s Analysis

Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price


5-Star Price


Economic Moat


Capital Allocation


C.H. Robinson’s Q3 Truckload Pricing Rebounds, but Gross Margins Squeezed as Cost of Hire Spikes

Matthew Young, CFA Equity Analyst

Analyst Note

| Matthew Young, CFA |

Wide-moat logistics specialist C.H. Robinson’s third-quarter gross revenue swung to a 9.5% year-over-year increase, versus a 7% decline last quarter. In the flagship brokerage unit (NAST), gross revenue was up roughly 4% on better pricing and as shipment demand saw sequential improvement off pandemic lows due to the reopening economy, retailers' restocking, and spiking spot opportunities. Truckload volume was up only 0.5%, but that was much better than the 5% decline last quarter and LTL volume jumped 14%. Thanks to rapidly firming capacity, the firm also benefited from a nice uptick in pricing to shippers (particularly on spot business) as TL revenue per load jumped 10.5%. Global forwarding gross sales rose 39% due in part to robust airfreight pricing.

Read Full Analysis

Company Profile

Business Description

C.H. Robinson is a top-tier non-asset-based third-party logistics provider with a significant focus on domestic freight brokerage (66% of net revenue), which reflects mostly truck brokerage but also rail intermodal. It also operates a growing air and ocean forwarding unit (20%) and a legacy produce-sourcing operation (9%). The remainder of net revenue reflects transportation management services and the firm's European truck brokerage operations.

14701 Charlson Road
Eden Prairie, MN, 55347-5088
T +1 952 937-8500
Sector Industrials
Industry Integrated Freight & Logistics
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 15,177