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Freight forwarding company C.H. Robinson's total revenue in the third quarter was about $4.64 billion, up 7 percent year-on-year
Recently, the world famous freight forwarding company C.H. Robinson (Robin Ascension) announced the third quarter results.


C.h. Robinson Q3 key results data


Robyn's total revenue for the third quarter was approximately $4.64 billion, up 7% year-over-year; Adjusted gross profit was approximately $740 million, an increase of 15.8% year-over-year. In addition, total revenue for the first three quarters was approximately $13.54 billion, an increase of 1.2% year-on-year; Adjusted gross profit was approximately $2.08 billion, an increase of 4.8% year-over-year.


C.h. Robinson Global freight forwarding business segment Q3 key results data


Among them, the total revenue of Robyn's global freight forwarding business segment in the third quarter was about 1.14 billion US dollars, an increase of 58.7%; Adjusted gross profit of $230 million, an increase of 38.1%. In the first three quarters, the total revenue of this segment was about 2.92 billion US dollars, an increase of 27.6%. Adjusted gross profit of $60 million, an increase of 13.6%.


C.h. Robinson President and Chief Executive Officer Dave Bozeman

C.h. Robinson President and Chief Executive Officer Dave Bozeman


Commenting on the results, Dave Bozeman, Robyn's President and Chief Executive Officer, said: "We are very pleased with our third quarter results, which are a significant result of Robyn's continued lean management operating model. Despite the current downturn in the freight market, we have continued to deliver exceptional service to our customers and operators by rigorously executing this new operating model while improving the efficiency of cross-functional communication and collaboration.

On this basis, Rosenstein remains on track to achieve compound growth of more than 30% in the two years from the end of 2022 to the end of 2024."

It is understood that in the third quarter of 2024, Robin Rose sold its subsidiary European road transport company - European Surface Transportation, to the European digital road freight forwarding company - Sennder Technologies GmbH. The transaction is scheduled to close in the fourth quarter of 2024.

Robyn said the move is part of its strategic optimisation and realignment to focus on its core businesses of North American road transport and global air and sea freight to maximise shareholder benefits.
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