C.H. Robinson reports Q2 EPS 90c, consensus 83c

Reports Q2 revenue $4.42B, consensus $4.23B. The company “noted that global freight markets in the second quarter continued to be impacted by weak demand, high inventories and excess capacity, which resulted in a more competitive marketplace with suppressed transportation rates. North American surface transportation volumes and load-to-truck ratios remain near the low levels of 2019. In the freight forwarding market, ocean vessel and air freight capacity continues to exceed demand, which has kept ocean and air freight rates low during this period of significant decline that has continued since the second half of 2022.”