Revenues in Q1 at C.H. Robinson boosted by APC acquisition

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C.H. Robinson Worldwide’s total revenues increased by 11.1 per cent in the first quarter (Q1) of 2017 compared to Q1 in 2016 – reaching $3.41 billion.

The company says performance for the first three months of the year was driven by volume growth across all transportation services, while total net revenues rose by 0.9 per cent in Q1.

APC Logistics, which was acquired at the close of business on 30 September, 2016, represented approximately two per cent of total net revenues in Q1 of 2017.

C.H. Robinson’s global forwarding total revenues increased 33.5 per cent in Q1 of 2017 to $468.8 million from $351.1 million in Q1 2016 with net revenues up 14.7 per cent to $106.5 million in Q1 2017 compared to $92.9 million in Q1 of 2016.

Air net revenues increased 17.2 per cent to $20.4 million in Q1 of 2017 compared to $17.4 million in Q1 of 2016. Customs net revenues increased 50 per cent to $16.1 million in Q1 of 2017 compared to $10.7 million in Q1 of 2016. These increases were primarily due to volume increases, including those from APC.

Air sector revenues were up 18.5 per cent in Q1 to $21.8 million, compared with $18.4 million in Q1 2016.

Global Forwarding operating expenses increased 18.9 per cent in Q1 of 2017 to $90.3 million from $76 million in Q1 of 2016. These increases were driven by an average headcount increase of 12.6 per cent and the acquisition amortization related to the acquisition of APC.

The Robinson Fresh line of business, which provides logistical services for perishables around the world, saw total revenues fall 2.4 per cent in Q1 to $550.4 million and net revenues were down 2.3 per cent to $56.8 million.

These falls the third-party logistic provider (3PL) says were as a result of declines in transportation net revenues, partially offset by increases in sourcing net revenues.

US-headquartered C.H. Robinson has a strong presence across North America, but also in Europe, Asia, and South America.