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Why CH Robinson Worldwide (CHRW) is Plummeting on Wednesday

Stocks in this article: CHRW

NEW YORK (TheStreet) -- CH Robinson Worldwide (CHRW) has taken off nearly 10% on Wednesday's session after reporting weaker-than-expected earnings a day earlier.

The freight and logistics company reported quarterly net income of 62 cents a share, 6 cents short of consensus according to analysts surveyed by Thomson Reuters. Revenue of $3.15 billion fell below expectations of $3.27 billion.

By segment, truckload net revenues dropped 5.6% from the year-ago quarter, while truckload volumes increased 7%. Intermodal net revenue, meaning goods moved in a container via multiple modes of transport, increased 9.4% due to increased revenue margin. Ocean and air transportation net revenues jumped 37.6% and 12.8%, respectively.

For the full year ended December, earnings of $2.65 a share missed consensus by 6 cents. Revenue of $12.75 billion jumped 12% year-over-year, but fell short of expectations by $117 million.

By late morning, shares had plummeted 9.4% to $53.12.

TheStreet Ratings team rates C H ROBINSON WORLDWIDE INC as a Buy with a ratings score of B-. The team has this to say about their recommendation:

"We rate C H ROBINSON WORLDWIDE INC (CHRW) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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