AI English summary of an SEC filing — figures as filed
C.H. Robinson CHRWC.H. Robinson said total revenues for 2023 decreased 28.7% to $17.6 billion, and adjusted gross profits decreased 27.5% to $2.6 billion. The company cited lower pricing in ocean and truckload services and lower adjusted gross profits per transaction as the main factors.
Key points
AI summaryC.H. Robinson said total revenues for 2023 decreased 28.7% to $17.6 billion, and adjusted gross profits decreased 27.5% to $2.6 billion. The company cited lower pricing in ocean and truckload services and lower adjusted gross profits per transaction as the main factors.
The company said operating income for 2023 was $514.6 million, down 59.4% from the prior year. Net income was $325.1 million, down 65.4%, and diluted earnings per share fell 63.2% to $2.72.
The company said its average truckload linehaul cost per mile, excluding fuel surcharges, fell about 18.5% in 2023, and its average truckload linehaul rate charged to customers, excluding fuel surcharges, fell about 21.0%. It also said ocean freight volumes decreased 5.0% and air freight tonnage decreased 6.5%.
The company said that as of December 31, 2023, cash and cash equivalents were $145.5 million (as of December 31, 2022, $217.5 million), and working capital was $828.7 million (as of December 31, 2022, $266.4 million). It said 6,763,445 shares remained available for future repurchases.
Key figures
Fiscal year ended December 31, 2023
- Revenue
- $17.6B
- Operating income
- $515M
- Net income
- $325M
- EPS
- $2.72
- Operating cash flow
- $732M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Annual decline in total revenues and adjusted gross profits
C.H. Robinson said total revenues for 2023 decreased 28.7% to $17.6 billion, and adjusted gross profits decreased 27.5% to $2.6 billion. The company cited lower pricing in ocean and truckload services and lower adjusted gross profits per transaction as the main factors.
Source · Based on the MD&A text of the filing
Lower operating income, net income and diluted EPS
The company said operating income for 2023 was $514.6 million, down 59.4% from the prior year. Net income was $325.1 million, down 65.4%, and diluted earnings per share fell 63.2% to $2.72.
Source · Based on the MD&A text of the filing
Truckload rates and ocean and air freight volumes
The company said its average truckload linehaul cost per mile, excluding fuel surcharges, fell about 18.5% in 2023, and its average truckload linehaul rate charged to customers, excluding fuel surcharges, fell about 21.0%. It also said ocean freight volumes decreased 5.0% and air freight tonnage decreased 6.5%.
Source · Based on the MD&A text of the filing
Cash Balance, Working Capital and Repurchase Capacity
The company said that as of December 31, 2023, cash and cash equivalents were $145.5 million (as of December 31, 2022, $217.5 million), and working capital was $828.7 million (as of December 31, 2022, $266.4 million). It said 6,763,445 shares remained available for future repurchases.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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