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CHRW Q1 2026 Earnings
Reported Apr 29, 2026 at 4:11 PM ET · SEC Source
Q1 26 EPS
$1.35
BEAT +9.64%
Est. $1.23
Q1 26 Revenue
$4.01B
MISS 0.87%
Est. $4.05B
vs S&P Since Q1 26
-7.5%
TRAILING MARKET
CHRW -5.4% vs S&P +2.1%
Market Reaction
Did CHRW Beat Earnings? Q1 2026 Results
C.H. Robinson delivered a stronger-than-expected first quarter for fiscal 2026, with earnings per share of $1.35 beating the $1.23 consensus by 9.64%, even as revenue of $4.01 billion came in slightly below the $4.05 billion estimate and slipped 0.8%… Read more C.H. Robinson delivered a stronger-than-expected first quarter for fiscal 2026, with earnings per share of $1.35 beating the $1.23 consensus by 9.64%, even as revenue of $4.01 billion came in slightly below the $4.05 billion estimate and slipped 0.8% year-over-year. The central story was margin resilience inside the North American Surface Transportation segment, where the company held adjusted gross profit margins at 14.6% despite truckload linehaul costs rising approximately 13.0% year-over-year, leaning on disciplined pricing strategy and a shift toward higher-margin transactional volumes as tender rejection rates climbed in a tightening trucking market. Partially offsetting that strength, Global Forwarding revenues fell 14.2% to $664.73 million as softer ocean demand and added vessel capacity weighed on per-shipment margins. Looking ahead, management reiterated its 2026 target of approximately $6.00 in adjusted EPS, anchored by goals of a 40% NAST operating margin and $350 million to $450 million in incremental adjusted operating income versus 2023, while maintaining its quarterly dividend of $0.63 per share.
Key Takeaways
- • NAST market share gains for 12th consecutive quarter with volume flat vs 6.2% decline in Cass Freight Shipment Index
- • Disciplined revenue management and cost of hire advantage maintained NAST gross margin flat at 14.6% despite 13% increase in truckload cost per mile
- • Average employee headcount declined 12.3% year-over-year driving productivity improvements
- • LTL adjusted gross profits increased 10.5% on higher volume and per-order AGP
- • Customs adjusted gross profits increased 20.0% driven by 22.0% increase in AGP per transaction
- • Lower effective tax rate of 11.7% vs 13.7% due to stock-compensation tax benefits
- • Lower interest expense of $14.0 million, down $2.8 million year-over-year
CHRW Forward Guidance & Outlook
C.H. Robinson expects its full-year 2026 effective tax rate to be 18% to 20%. Capital expenditures for 2026 are expected to be $75 million to $85 million. The company's 2026 financial targets (updated October 29, 2025) include approximately $6.00 in adjusted EPS (assuming ~120M diluted weighted average shares outstanding and 0% market growth), $964 million of adjusted operating income, 40% NAST operating margin, 30% Global Forwarding operating margin, mid-30s enterprise operating margin, and $350 million to $450 million in incremental adjusted operating income versus 2023. Market assumptions include flat to up 5% volume growth, NAST AGP/shipment flat to up 2%, and GF AGP/shipment reset to second half of 2023 levels (down 10%).
CHRW YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CHRW Revenue by Segment
With YoY comparisons, source: SEC Filings
“As has been widely discussed in recent months, the North American trucking market has entered a period of supply-driven tightening. As that has occurred, we've heard old tapes being replayed regarding which transportation providers benefit most during certain parts of the truckload cycle. But those storylines don't fully appreciate the secular earnings growth that has consistently been generated at the new C.H. Robinson regardless of market conditions.”
— Dave Bozeman, Q1 2026 Earnings Press Release
CHRW Earnings Trends
CHRW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CHRW EPS Trend
Earnings per share: estimate vs actual
CHRW Revenue Trend
Quarterly revenue: estimate vs actual
CHRW Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.23 | $1.35 | +9.64% | $4.01B | -0.87% |
| Q4 25 BEAT FY | $1.13 | $1.23 | +9.22% | $3.91B | -1.68% |
| FY Full Year | — | $5.09 | — | $16.23B | — |
| Q3 25 BEAT | $1.30 | $1.40 | +7.37% | $4.14B | -1.92% |
| Q2 25 BEAT | $1.16 | $1.29 | +11.37% | $4.14B | -0.96% |