CHRW - C.H. Robinson Worldwide Inc. (CHRW) Q1 2024 Earnings Call Transcript

2024-05-02 01:08:39 ET

C.H. Robinson Worldwide, Inc. (CHRW)

Q1 2024 Earnings Conference Call

May 1, 2024 5:00 PM ET

Company Participants

Chuck Ives - Director, Investor Relations

Dave Bozeman - President and Chief Executive Officer

Arun Rajan - Chief Operating Officer

Mike Zechmeister - Chief Financial Officer

Conference Call Participants

Scott Group - Wolfe Research

Jeff Kauffman - Vertical Research Partners

Christopher Kuhn - Benchmark Company

Stephanie Moore - Jefferies

Elliot Alper - TD Cowen

Tom Wadewitz - UBS

Jonathan Chappell - Evercore ISI

Presentation

Operator

Good Afternoon, ladies and gentlemen, and welcome to the C.H. Robinson First Quarter 2024 Conference Call. At this time, all participants are in a listen-only mode. Following the company's prepared remarks, we will open the line for a live question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded, Wednesday, May 1, 2024.

I would now like to turn the conference over to Chuck Ives, Director of Investor Relations. Please go ahead.

Chuck Ives

Thank you, Donna, and Good afternoon, everyone. On the call with me today is Dave Bozeman, our President and Chief Executive Officer; Arun Rajan, our Chief Operating Officer; and Mike Zechmeister, our Chief Financial Officer.

I'd like to remind you that our remarks today may contain forward-looking statements. Slide 2 in today's presentation lists factors that could cause our actual results to differ from management's expectations. Our earnings presentation slides are supplemental to our earnings release and can be found in the Investors section of our website at investor.chrobinson.com.

Our prepared comments are not intended to follow the slides. If we do refer to specific information on the slides, we'll let you know which slide we're referencing. Today's remarks also contain certain non-GAAP measures and reconciliations of those measures to GAAP measures are included in the presentation.

And with that, I'll turn the call over to Dave.

Dave Bozeman

Thank you, Chuck. Good afternoon, everyone, and thank you for joining us today. Our first quarter results and adjusted EPS of $0.86 reflects a change in our execution and discipline as we began implementing a new Lean-based operating model. And although we continue to battle through an elongated freight recession with an oversupply of capacity, I'm optimistic about our ability to continue improving our execution regardless of the market environment....

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