163,318 truckers risk losing their CDLs when the FMCSA's new Clearinghouse rule takes effect in November. Here's what it means and how it impacts the industry.
C.H. Robinson's Q4 2023 earnings report showed a decline in gross profits by 20% to $609.3 million, and income from operations decreased by 34.5% from a year earlier.
C.H. Robinson's Q4 2023 report shows continued struggle with a difficult freight environment. Income from operations fell 34.5% year-over-year to $107.4 million. Gross profits decreased by 20% to $609.3 million. Adjusted gross profits across all transportation modes were lower than in the previous quarter.
Stock Price Impact: Post-earnings announcement, C.H. Robinson's stock price fell 12.59%, reflecting investor concerns over the company's financial health and market positioning.
Verdict on earnings at $CHRW has been swift and savage. It hit a 52-wk low at $71.57 today. It was $89.71 as recently as Jan 5. Stock hasn't been this low since May '20. At its nadir today it was down 14.9% from Wed close. It popped back to $73.35 by 3:45 pm EST. #truckingpic.twitter.com/0asTFz3Vzd
Company's Outlook and Strategy: CEO David Bozeman emphasized strategies to mitigate these challenges, including a focus on the spot market and cost optimization efforts.
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
Less-than-truckload carrier Yellow Corp. faces a financial crisis, potentially running out of cash by August. The Teamsters union, citing past mismanagement, refuses another bailout.
Hyliion Holdings Corp. makes a strategic move, exiting the Class 8 electric powertrain business to concentrate on the fuel-agnostic Karno stationary generator.
