C.H. Robinson

Revenue and earnings remain cyclical with freight capacity/demand, fuel, and global trade volatility. CHRW mitigates this with mode diversification (truckload, LTL, ocean, air) and long‑tenured customer relationships, but brokerage margins compress in loose markets and rebound in tight markets.

Management’s raised 2026 operating income target signals confidence in structural cost improvements, yet external factors such as tariffs and ocean rate swings can still drive quarterly variability.

The Q3 2025 release highlights volume outperformance and lower opex amid a soft market, illustrating improved operating leverage but not eliminating cyclicality.