C. H. Robinson Tumbles Most in 18 Months as Trucking Rates Sag
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C.H. Robinson Worldwide Inc. fell the most in 18 months after the arranger of freight shipments said a decline in revenue that weighed on second-quarter results continued into July.
Sales dropped 6.9 percent to $3.3 billion in the quarter, compared with analysts’ average estimate of $3.44 billion. Intermodal revenue plunged 22 percent as volumes decreased 13 percent, the company said Wednesday on a conference call.