C.H. Robinson Worldwide, Inc. (CHRW) has reported 3.38 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $122.30 million, or $0.86 a share in the quarter, compared with $126.58 million, or $0.88 a share for the same period last year.
Revenue during the quarter grew 6.36 percent to $3,414.98 million from $3,210.85 million in the previous year period. Gross margin for the quarter contracted 133 basis points over the previous year period to 16.44 percent. Total expenses were 94.33 percent of quarterly revenues, up from 93.32 percent for the same period last year. That has resulted in a contraction of 101 basis points in operating margin to 5.67 percent.
Operating income for the quarter was $193.56 million, compared with $214.58 million in the previous year period.
Operating cash flow drops significantly
C.H. Robinson Worldwide, Inc. has generated cash of $529.41 million from operating activities during the year, down 26.30 percent or $188.93 million, when compared with the last year.
The company has spent $312.99 million cash to meet investing activities during the year as against cash outgo of $54.45 million in the last year.
The company has spent $127.30 million cash to carry out financing activities during the year as against cash outgo of $607.74 million in the last year period.
Cash and cash equivalents stood at $247.67 million as on Dec. 31, 2016, up 47.22 percent or $79.44 million from $168.23 million on Dec. 31, 2015.
Working capital drops significantly
C.H. Robinson Worldwide, Inc. has witnessed a decline in the working capital over the last year. It stood at $162.38 million as at Dec. 31, 2016, down 42.44 percent or $119.72 million from $282.10 million on Dec. 31, 2015. Current ratio was at 1.09 as on Dec. 31, 2016, down from 1.19 on Dec. 31, 2015.
Debt increases substantially
C.H. Robinson Worldwide, Inc. has witnessed an increase in total debt over the last one year. It stood at $1,240 million as on Dec. 31, 2016, up 30.53 percent or $290 million from $950 million on Dec. 31, 2015. Total debt was 33.95 percent of total assets as on Dec. 31, 2016, compared with 29.83 percent on Dec. 31, 2015. Debt to equity ratio was at 0.99 as on Dec. 31, 2016, up from 0.83 as on Dec. 31, 2015.
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