c.h. robinson worldwide inc (CHRW) Key Developments
CH Robinson Worldwide Inc. Provides Capital Expenditure Guidance for the Fiscal 2015
Apr 28 15
CH Robinson Worldwide Inc. provided capital expenditure guidance for the fiscal 2015. The company expects total CapEx, including software, to be about $40 million to $50 million for 2015. The company expects to spend $15 million to $20 million on the data center in 2015, and expects to put the data center in service some time during 2016. The company expects tax rate to be between about 38.25% and 38.75%.
CH Robinson Worldwide Seeks Acquisitions
Apr 28 15
CH Robinson Worldwide Inc. (NasdaqGS:CHRW) is seeking acquisitions. John Wiehoff, Chief Executive Officer of CH Robinson Worldwide said, “So we will continue to look for acquisitions but our core 7% to 12% EPS growth we believe will be primarily driven by organic growth. I think we've been clear all along that while we want to be primarily focused on organic growth in our business that we are receptive to acquisitions in any of our service offering areas. We have been in the intermodal business for several decades, and remain committed to growing that organically or through acquisition depending upon what we see as the best path forward from the standpoint of growing our business and servicing our customers.”
CH Robinson Worldwide Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 27 15
CH Robinson Worldwide Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $3,300,890,000 against $3,142,585,000 a year ago. Total net revenues were $525,110,000 against $457,235,000 a year ago. Income from operations was $181,925,000 against $156,971,000 a year ago. Income before provision for income taxes was $65,844,000 against $57,653,000 a year ago. Net income was $106,476,000 or $0.73 per basic and diluted share against $93,187,000 or $0.63 per basic and diluted share a year ago. Net cash provided by operating activities was $100,395,000 against $14,440,000 a year ago. Purchases of property and equipment were $3,895,000 against $11,124,000 a year ago. Purchases and development of software was $2,771,000 against $1,471,000 a year ago.
C.H. Robinson Expands Asian Operations to Vietnam; Appoints Roy Cha to Manage New Office
Apr 20 15
C.H. Robinson is now operating out of a fully owned global forwarding office in Ho Chi Minh City, the center and gateway of Southern Vietnam. As a key hub for transportation and logistics in Southeast Asia, Ho Chi Minh City handles about 70% of Vietnam’s total cargo volume. C.H. Robinson’s increasing involvement in the Vietnam market is part of the company’s aggressive plan to offer expertise on both a local and global scale in key markets across the world. As a country, Vietnam represents a growing economy with significant opportunity for experts in the field of transportation logistics. In addition to offering traditional global forwarding services such as ocean, air, and consolidation, C.H. Robinson will provide customers with domestic supply chain services including surface transportation, warehousing, and customs clearance from the new Vietnam office.
The new office will be managed by Roy Chau, who has served as the sales and marketing manager for C.H. Robinson over the past six years.
C.H. Robinson Adds Global Forwarding Office; Announces Board Appointments
Apr 17 15
C.H. Robinson announced the grouping of the existing C.H. Robinson road transport office in Antwerp with the new global forwarding office enables C.H. Robinson to provide the Belgian marketplace with a local approach combined with a wide scope of tailor-made global services.
The company announced that to support this expansion, Erwin Dhaene was appointed manager of the new office. Prior to becoming manager, Dhaene was responsible for C.H. Robinson’s ocean product development in Europe. Further to the promotion of Dhaene in Antwerp, two directors have been appointed at C.H. Robinson’s European corporate headquarters in Amsterdam. Jesper Lund has been named sales director of Europe Global Forwarding where he will lead the commercial activities of the Global Forwarding division within Europe. Lund has 23 years of industry experience, starting his career in 1992 for DanTransport AS in Copenhagen, Denmark. Lund also spent 11 years at UPS SCS in various sales and general management leadership positions, including the role of Nordic director. Eric Padmos has joined as operations director of Europe Global Forwarding where he will be responsible for pricing, operations, and the division’s service growth strategy. Padmos started his career in 1996 at Excel Freight Management and has held many management roles since at Rotra Air & Ocean, UPS SCS, and more recently IJS Global in Amsterdam.