“Our Q1 results reflect progress in the disciplined execution of the strategies that we shared at our Investor Day in December to take market share and expand our margins.”
— Dave Bozeman
03Detailed Report
CHRW
Company CHRW
Period
Q1 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 30, 2026
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Executive Summary
CH Robinson Worldwide, Inc. reported a solid start to the 2025 fiscal year with Q1 2025 revenue of $4.04674 billion and net income of $135.302 million, translating to diluted earnings per share of $1.11. The quarter featured meaningful margin progression in the North American Surface Transportation (NAST) segment and ongoing gross margin optimization driven by disciplined pricing, capacity sourcing, and elevated productivity from the Robinson operating model. Management attributed a 39% year‑over‑year increase in enterprise operating income, with NAST delivering a 34.3% operating margin (YoY and QoQ gains) as AGP (adjusted gross profit) improved by $15.4 million versus a year earlier. The company also underscored a multi‑quarter productivity runway tied to GenAI and other automation across the quote‑to‑cash lifecycle, positioning CHRW to scale margins and volume as market conditions recover. Front‑to‑back execution remained focused on market outgrowth, gross margin expansion, and operating leverage through cost discipline, smarter pricing, and higher throughput, supported by a robust balance sheet and ample liquidity.
Key Performance Indicators
Revenue
Decreasing
4.05B
QoQ: -3.30% | YoY: -8.29%
Gross Profit
Increasing
4.05B
1.00% margin
QoQ: 1 125.39% | YoY: 1 312.06%
Operating Income
Increasing
176.85M
QoQ: -3.78% | YoY: 26.28%
Net Income
Increasing
135.30M
QoQ: -9.38% | YoY: 45.64%
EPS
Increasing
1.12
QoQ: -9.68% | YoY: 43.59%
Revenue Trend
Margin Analysis
Financial Highlights
Q1 2025 Revenue: $4.04674B; YoY revenue change: -8.29%; QoQ: -3.30%
Gross Profit: $4.04674B (gross profit margin reported as 1.0000 in the GAAP line, i.e., revenue ≈ gross profit in the data) with a noted discrepancy in ratiosInfo (gross margin figures vary by source; ratiosInfo shows 0.0802). Operating Income: $176.853M; YoY change: +26.28%; QoQ: -3.78%
Net Income: $135.302M; YoY: +45.64%; QoQ: -9.38%
EPS (GAAP Diluted): $1.11; YoY: +43.59%; QoQ: -9.68%
EBITDA: $176.853M; Margin (EBITDA/Revenue): roughly 4.37%
Free Cash Flow: $103.183M; Operating Cash Flow: $106.531M; CapEx (Q1): $16.148M; Full year CapEx guidance: $65–$75M
Net Debt to EBITDA: 1.54x (end of Q1); Total Debt: $1.728B; Cash & Equivalents: $129.942M; Liquidity: ~$1.16B
Balance Sheet: Total Assets $5.226B; Total Liabilities $3.491B; Total Stockholders’ Equity $1.735B
Shareholder Returns: $97.5M in repurchases and $77.5M in dividends in Q1 (total $175M)
Headcount: Average Q1 headcount down ~11% vs. prior year; divestiture of EST affected personnel costs
Key Levers: Productivity gains >30% over two years; AI and automation across quote-to-cash; NAST margin expansion (29–34% range framed in commentary); TMC/RMS initiatives to move up the value stack
Industry context: Freight volumes remained subdued in Q1; CHRW outgrew market in NAST and expanded margins through pricing discipline and cost optimization; management emphasized diversification of trade lanes to reduce lane concentration and to hedge tariff risk
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
4.05B
-8.29%
-3.30%
Gross Profit
4.05B
1 312.06%
1 125.39%
Operating Income
176.85M
26.28%
-3.78%
Net Income
135.30M
45.64%
-9.38%
EPS
1.12
43.59%
-9.68%
Key Financial Ratios
Gross Profit Margin
Weak
8.02%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
4.37%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Fair
3.34%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
2.59%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
7.80%
Return on equity is acceptable but below top-tier companies
Current Ratio
Adequate
1.29
Current ratio meets minimum requirements but limited cushion