C.H. Robinson Worldwide, Inc. reported consolidated total revenues of $17.7 billion for the fiscal year ending December 31, 2024, marking a 0.7% increase from $17.6 billion in 2023. The company's net income rose significantly by 43.2% to $465.7 million, or $3.86 per diluted share, compared to $325.1 million, or $2.72 per diluted share, in the previous year. This growth in profitability was attributed to improved operational efficiencies and disciplined pricing strategies, particularly in the ocean and truckload service segments.
The company experienced notable changes in its operational landscape, including a 6.0% decline in revenues from its North American Surface Transportation (NAST) segment, which generated $11.7 billion, primarily due to lower pricing and volume in truckload services. Conversely, the Global Forwarding segment saw a substantial revenue increase of 26.9%, reaching $3.8 billion, driven by heightened demand and pricing in ocean freight services. Adjusted gross profits for the year increased by 6.2% to $2.8 billion, reflecting higher profit margins across various service lines.
Strategically, C.H. Robinson launched its Managed Solutions service in November 2024, aimed at providing comprehensive 4PL services alongside traditional 3PL and Transportation Management Services (TMS). The company also announced the divestiture of its Europe Surface Transportation business, which was completed in February 2025, as part of its strategy to focus on core logistics services. This divestiture resulted in a pre-tax loss of $44.5 million, impacting the overall financial results for the year.
Operationally, C.H. Robinson managed approximately 37 million shipments in 2024, serving 83,000 customers globally, with a network of 450,000 carriers. The average employee headcount decreased by 10.3% to 14,386, reflecting ongoing cost optimization efforts. The company reported a significant increase in air freight tonnage, up 17.0%, and a 5.5% increase in ocean freight volumes, indicating a recovery in demand for global forwarding services.
Looking ahead, C.H. Robinson anticipates continued growth driven by its focus on digital transformation and enhanced service offerings. The company aims to leverage its proprietary technology and data analytics capabilities to improve operational efficiencies and customer service. However, it also acknowledges potential challenges, including market volatility and competitive pressures, which could impact future performance.
About C. H. ROBINSON WORLDWIDE, INC.
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