C. H. Robinson Worldwide, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>C. H. Robinson Worldwide, Inc. has filed its Q1 2024 10-Q report.</b>

AI Summary

C. H. ROBINSON WORLDWIDE, INC. (CHRW) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. C. H. Robinson Worldwide, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's Central Index Key is 0001043277. The Standard Industrial Classification code is 4731 (Arrangement of Transportation of Freight & Cargo). The filing was made on May 3, 2024.

Why It Matters

For investors and stakeholders tracking C. H. ROBINSON WORLDWIDE, INC., this filing contains several important signals. This 10-Q filing provides a quarterly update on the company's financial performance and operational status. Investors and analysts will use this report to assess C. H. Robinson's business trends and make informed investment decisions.

Risk Assessment

Risk Level: low — C. H. ROBINSON WORLDWIDE, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual events or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue drivers and cost structures for Q1 2024.

Key Numbers

• 2024-03-31 — Report Date (Conformed Period of Report)
• 2024-05-03 — Filing Date (Filed as of Date)
• 2024-01-01 — Quarter Start Date (Q1 2024)
• 2023-03-31 — Prior Year Q1 End Date (2023 Q1)

Key Players & Entities

• C. H. Robinson Worldwide, Inc. (company) — Filer name
• 0001043277 (company) — Central Index Key
• 4731 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• 14701 CHARLSON ROAD (company) — Business Street Address
• EDEN PRAIRIE (company) — Business City
• MN (company) — Business State
• 55347 (company) — Business Zip Code

FAQ

Industry Context

C. H. Robinson Worldwide operates in the transportation and logistics industry, providing freight brokerage and other supply chain services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze revenue and net income trends for Q1 2024 compared to Q1 2023.
2. Examine segment performance, particularly North American Surface Transportation and Global Forwarding.
3. Review any disclosed risk factors or management discussion and analysis for insights into operational challenges or opportunities.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first quarterly update of the year.

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 par value CHRW Nasdaq Global Select Mar

Filing Documents

• chrw-20240331.htm (10-Q) — 964KB
• ex311q12024.htm (EX-31.1) — 9KB
• ex312q12024.htm (EX-31.2) — 9KB
• ex321q12024.htm (EX-32.1) — 4KB
• ex322q12024.htm (EX-32.2) — 4KB
• chrw-20240331_g1.jpg (GRAPHIC) — 103KB
• 0001043277-24-000026.txt (&nbsp;) — 5886KB
• chrw-20240331.xsd (EX-101.SCH) — 37KB
• chrw-20240331_cal.xml (EX-101.CAL) — 69KB
• chrw-20240331_def.xml (EX-101.DEF) — 194KB
• chrw-20240331_lab.xml (EX-101.LAB) — 510KB
• chrw-20240331_pre.xml (EX-101.PRE) — 379KB
• chrw-20240331_htm.xml (XML) — 746KB

Financial Information

PART I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Investment for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30

Signatures

Signatures 31 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS C.H. ROBINSON WORLDWIDE, INC. Condensed Consolidated Balance Sheets (unaudited, in thousands, except per share data) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 121,838 $ 145,524 Receivables, net of allowance for credit loss of $ 16,351 and $ 14,229 2,592,576 2,381,963 Contract assets, net of allowance for credit loss 235,326 189,900 Prepaid expenses and other 174,441 163,307 Total current assets 3,124,181 2,880,694 Property and equipment, net of accumulated depreciation and amortization 143,497 144,718 Goodwill 1,467,018 1,473,600 Other intangible assets, net of accumulated amortization 40,127 43,662 Right-of-use lease assets 366,604 353,890 Deferred tax assets 219,443 214,619 Other assets 111,218 114,097 Total assets $ 5,472,088 $ 5,225,280 LIABILITIES AND STOCKHOLDERS' INVESTMENT Current liabilities: Accounts payable $ 1,390,019 $ 1,303,951 Outstanding checks 63,650 66,383 Accrued expenses: Compensation 110,899 135,104 Transportation expense 186,027 147,921 Income taxes 6,246 4,748 Other accrued liabilities 162,627 159,435 Current lease liabilities 74,818 74,451 Current portion of debt 280,000 160,000 Total current liabilities 2,274,286 2,051,993 Long-term debt 1,420,776 1,420,487 Noncurrent lease liabilities 310,285 297,563 Noncurrent income taxes payable 21,798 21,289 Deferred tax liabilities 12,090 13,177 Other long-term liabilities 2,859 2,074 Total liabilities 4,042,094 3,806,583 Stockholders' investment: Preferred stock, $ 0.10 par value, 20,000 shares authorized; no shares issued or outstanding — — Common stock, $ 0.10 par value, 480,000 shares authorized; 179,199 and 179,204 shares issued, 117,000 and 116,768 outstanding 11,700 11,677 Additional paid-in capital 746,998 754,093 Retained earnings 5,639,629 5,620,790 Accumulated other comprehensive loss ( 100,436 ) ( 80,946 ) Treasury stock at cost ( 62,199 and 62,436 shares) ( 4,867,897 )