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With a market cap of $12.7 billion, C.H. Robinson Worldwide, Inc. (CHRW) is a leading third-party logistics provider. The Eden Prairie, Minnesota-based company specializes in freight transportation services and supply chain solutions across various industries, leveraging a network of around 45,000 transportation partners globally. The company is expected to announce its fiscal Q3 earnings results after the market closes on Wednesday, Oct. 30.
Ahead of its upcoming earnings report, analysts project the transportation logistics company to report a profit of $1.12 per share, up 33.3% from $0.84 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in three of the past four quarters while missing on another occasion. In Q2, CHRW exceeded the consensus EPS estimate by 21.1%.
For fiscal 2024, analysts expect CHRW to report EPS of $4.16, an increase of 26.1% from $3.30 recorded in fiscal 2023.
On a YTD basis, CHRW has increased 25.3%, outpacing the S&P 500 Index's ($SPX) 22.3% rise and the Industrial Select Sector SPDR Fund's (XLI) 19.8% gain over the same period.
C.H. Robinson's stock surged 14.8% following its impressive Q2 earnings release on Jul. 31, reporting better-than-expected adjusted EPS of $1.15. The company effectively controlled operating expenses by reducing it by 4.4%, which contributed to a 3% increase in gross profit and an improvement in adjusted operating margins. Additionally, higher pricing in its ocean services division helped offset ongoing challenges in the domestic trucking sector, showcasing its ability to navigate a tough economic environment while gaining market share.
Analysts' consensus rating on C.H. Robinson stock is cautious, with a "Hold'' rating overall. Out of 24 analysts covering the stock, opinions include six "Strong Buys," 16 "Holds," and two "Strong Sells." This consensus is more bullish than three months ago, with four “Strong Buy” recommendation ratings on the stock. As of writing, CHRW is trading above the average analyst price target of $104.86.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
