2023-04-26 16:11:37 ET
- C.H. Robinson Worldwide press release ( NASDAQ: CHRW ): Q1 Non-GAAP EPS of $0.98 in-line.
- Revenue of $4.6B (-32.4% Y/Y) misses by $200M .
- Gross profits decreased 24.7% to $678.3M.
- Adjusted operating margin decreased 1,460 basis points to 23.5%.
- Cash generated by operations improved to $254.5M.
- We expect our 2023 full-year effective tax rate to be 19% to 21%.
- "We are executing on the restructuring plan that was initiated in November, and we're lowering our 2023 personnel expense by $100 million at the mid-point of our guidance, reflecting actions that have already been taken and additional opportunities to further reduce our costs."
For further details see:
C.H. Robinson Worldwide Non-GAAP EPS of $0.98 in-line, revenue of $4.6B misses by $200M