C.H. Robinson Files Q2 2024 10-Q

Ticker: CHRW · Form: 10-Q · Filed: 2024-08-02T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, logistics, transportation

Related Tickers: CHRW

TL;DR

CHRW Q2 10-Q is in. Financials and ops details out.

AI Summary

C. H. Robinson Worldwide, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the company, which is a major player in freight and cargo arrangement. Specific financial figures and segment performances are outlined within the report.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational details of C.H. Robinson, a key logistics provider, impacting supply chain visibility.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags apparent in the provided metadata.

Key Players & Entities

FAQ

What is the reporting period for this 10-Q filing?

The Conformed Period of Report is 20240630, indicating the period ending June 30, 2024.

What is the company's primary business activity according to the SIC code?

The Standard Industrial Classification code is 4731, which corresponds to 'Arrangement of Transportation of Freight & Cargo'.

When was C. H. Robinson Worldwide, Inc. incorporated?

The State of Incorporation is listed as DE (Delaware).

What is the company's fiscal year end?

The Fiscal Year End is 1231, meaning December 31st.

What is the SEC file number for C. H. Robinson Worldwide, Inc.?

The SEC File Number is 000-23189.

Filing Stats: 4,595 words · 18 min read · ~15 pages · Grade level 13.3 · Accepted 2024-08-02 13:06:04

Key Financial Figures

Filing Documents

Financial Information

PART I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 30 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three and Six Months Ended June 30 , 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Investment for the Three and Six Months Ended June 30 , 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30 , 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 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 34

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 35

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 35

Other Information

Item 5. Other Information 35

Exhibits

Item 6. Exhibits 36

Signatures

Signatures 37 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) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 113,166 $ 145,524 Receivables, net of allowance for credit loss of $ 16,845 and $ 14,229 2,650,800 2,381,963 Contract assets, net of allowance for credit loss 260,401 189,900 Prepaid expenses and other 154,807 163,307 Total current assets 3,179,174 2,880,694 Property and equipment, net of accumulated depreciation and amortization 139,636 144,718 Goodwill 1,468,605 1,473,600 Other intangible assets, net of accumulated amortization 36,763 43,662 Right-of-use lease assets 351,823 353,890 Deferred tax assets 226,396 214,619 Other assets 109,949 114,097 Total assets $ 5,512,346 $ 5,225,280 LIABILITIES AND STOCKHOLDERS' INVESTMENT Current liabilities: Accounts payable $ 1,431,662 $ 1,303,951 Outstanding checks 56,970 66,383 Accrued expenses: Compensation 120,819 135,104 Transportation expense 211,310 147,921 Income taxes 2,483 4,748 Other accrued liabilities 158,846 159,435 Current lease liabilities 74,123 74,451 Current portion of debt 188,000 160,000 Total current liabilities 2,244,213 2,051,993 Long-term debt 1,421,066 1,420,487 Noncurrent lease liabilities 299,564 297,563 Noncurrent income taxes payable 21,611 21,289 Deferred tax liabilities 11,929 13,177 Other long-term liabilities 3,522 2,074 Total liabilities 4,001,905 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, 117,262 and 116,768 outstanding 11,726 11,677 Additional paid-in capital 756,135 754,093 Retained earnings 5,691,874 5,620,790 Accumulated other comprehensive loss ( 101,749 ) ( 80,946 ) Treasury stock at cost ( 61,937 and 62,436 shares) ( 4,847,545 ) (

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