April 30 (Reuters) - Global freight forwarder C.H.
Robinson's ( CHRW ) first-quarter profit beat Wall Street
estimates on Wednesday, helped by new business gains in its
global forwarding segment and improved margins in North American
surface transportation business.
"We outgrew the market in both truckload and
less-than-truckload while expanding gross margins and improving
productivity," said CEO Dave Bozeman.
"In our global forwarding business, we continued to win new
business and optimize our expenses through further increases in
productivity."
President Donald Trump's tariffs, however, have created
market uncertainty and a lack of clarity, causing many of C.H.
Robinson's ( CHRW ) customers to adopt a wait-and-see approach until the
impact of the tariffs on consumer spending and global demand
becomes clear.
"We are certainly not immune to global market dynamics,"
Bozeman added.
The Minnesota-based company reported adjusted profit of
$1.17 per share for the quarter ended March 31, compared with
analysts' average estimate of $1.04, according to data compiled
by LSEG.
However, its total revenue fell 8.3% to $4.05 billion, below
estimates of $4.26 billion.