Oct 30 - C.H. Robinson ( CHRW ) beat Wall Street

estimates for third-quarter profit and revenue on Wednesday,

helped by the logistics firm's efforts to reduce costs and

higher pricing in its ocean services business.

Adjusted gross profits in the company's ocean freight

business rose by 57.4% over a year, driven by a 47% increase in

adjusted gross profit per shipment and a 7% increase in

shipments, in general.

The ongoing geo-political tensions in the Red Sea and

disruption due to strikes at U.S. East and Gulf coast ports

helped freight forwarders in increasing shipping charges.

Despite a prolonged slump in demand and low shipment

volumes, logistics companies are focusing on improving their

profit margins.

"We improved the quality of our volume in the third

quarter and continued to expand our North American surface

transportation (segment) gross profit margin," said CEO Dave

Bozeman said.

The Minnesota-based company posted an adjusted income of

$1.28 per share for the quarter ended September 30, compared

with analysts' average expectations of $1.15, according to data

compiled by LSEG.

Total revenue rose 7% to $4.64 billion, driven by higher

pricing and volume in its ocean services business, beating

analysts' estimates of $4.53 billion.