CHRW Q3 2025 Earnings
Reported Oct 29, 2025 at 4:26 PM ET · SEC Source
Q3 25 EPS
$1.40
BEAT +7.37%
Est. $1.30
Q3 25 Revenue
$4.14B
MISS 1.92%
Est. $4.22B
vs S&P Since Q3 25
+14.8%
BEATING MARKET
CHRW +22.7% vs S&P +7.9%
Market Reaction
Did CHRW Beat Earnings? Q3 2025 Results
C.H. Robinson posted a mixed but largely resilient third quarter for fiscal 2025, beating Wall Street's profit expectations even as revenue fell short in one of the softest freight environments in recent memory. The logistics giant earned $1.40 per s… Read more C.H. Robinson posted a mixed but largely resilient third quarter for fiscal 2025, beating Wall Street's profit expectations even as revenue fell short in one of the softest freight environments in recent memory. The logistics giant earned $1.40 per share, clearing the $1.30 consensus estimate by 7.37%, while revenue of $4.14 billion missed the $4.22 billion forecast by 1.92% and declined 10.9% from a year ago. The primary driver behind the earnings beat was a sharp improvement in operating efficiency, with the company's NAST segment reaching a 39.2% adjusted operating margin and posting its tenth consecutive quarter of volume market share gains, even as CEO Dave Bozeman described the broader freight market as enduring its weakest third quarter since 2009. A favorable tax rate of 20.6%, down from 32.4% a year ago, also meaningfully lifted GAAP results. Multiple analysts raised price targets following the report, reflecting growing confidence in the company's transformation trajectory. Looking ahead, C.H. Robinson raised its 2026 operating income target to a range of $965 million to $1.04 billion and authorized a fresh $2.00 billion share repurchase program.
Key Takeaways
- • NAST truckload and LTL volume grew 3.0% Y/Y, outpacing market indices for the 10th consecutive quarter
- • Gross margin expansion for 8th consecutive quarter in NAST with 70 bps improvement in NAST AGP margin
- • Disciplined pricing and revenue management in Global Forwarding expanded gross margins by 380 bps Y/Y
- • Average employee headcount declined 10.8% Y/Y driving productivity improvements and operating leverage
- • Operating expenses decreased 12.6% Y/Y
- • Lower effective tax rate of 20.6% vs 32.4% in prior year
- • Interest expense decreased $6.3 million due to lower average debt balance and lower variable interest rates
- • Productivity improvement of more than 55% in Global Forwarding since end of 2022
CHRW YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
CHRW Revenue by Segment
With YoY comparisons, source: SEC Filings
“The third quarter of 2025 was marked by a continued soft freight environment, with the Cass Freight Shipment Index declining year-over-year for the 12th consecutive quarter. The Cass index reading was the lowest third quarter reading since the financial crisis of 2009.”
— Dave Bozeman, Q3 2025 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% |