Q2 26 EPS
$1.61
BEAT +5.61%
Est. $1.52
Q2 26 Revenue
$4.93B
BEAT +13.33%
Est. $4.35B
vs S&P Since Q2 26
-16.1%
TRAILING MARKET
CHRW -11.9% vs S&P +4.3%
Market Reaction
Did CHRW Beat Earnings? Q2 2026 Results
C.H. Robinson Worldwide delivered a convincing beat across the board in Q2 2026, posting earnings per share of $1.61 against a consensus estimate of $1.52, a 5.61% beat that marks the fourth consecutive quarter the freight broker has topped EPS expec… Read more C.H. Robinson Worldwide delivered a convincing beat across the board in Q2 2026, posting earnings per share of $1.61 against a consensus estimate of $1.52, a 5.61% beat that marks the fourth consecutive quarter the freight broker has topped EPS expectations. Revenue climbed 19.3% year-over-year to $4.93 billion, clearing the $4.35 billion consensus by 13.33%, as higher pricing across truckload, LTL, air, and ocean services drove the top-line surge. The most material engine behind the quarter was pricing momentum, with truckload linehaul costs and customer rates both rising sharply, though cost increases did compress adjusted gross profit margins in truckload. Still, LTL was a standout, with adjusted gross profit per order rising 19.5% alongside 2% volume growth. The company's Lean AI productivity initiative, which has delivered cumulative efficiency gains of over 60% since late 2022, enabled a 10.8% year-over-year headcount reduction while volumes continued to grow. Looking ahead, management reiterated its 2026 target of $350 million to $450 million in incremental adjusted operating income versus 2023, with NAST margins targeting 40% and Global Forwarding targeting 30%.
Key Takeaways
- • NAST truckload and LTL volume increased 1.5% year-over-year, outpacing the Cass Freight Shipment Index for 13th consecutive quarter
- • LTL adjusted gross profit per order increased 19.5% with volume up 2.0%
- • Air adjusted gross profit per metric ton shipped increased 33.5%
- • Average employee headcount declined 10.8% year-over-year while growing volumes, reflecting Lean AI productivity gains
- • Disciplined revenue management maintained truckload AGP per shipment flat despite 29% increase in linehaul costs
- • Higher pricing in truckload, LTL, air and ocean services drove 19.3% revenue growth
- • Personnel expense growth limited to 0.9% despite higher incentive compensation
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 $65 million to $75 million. The company's 2026 financial targets include incremental adjusted operating income of $350 million to $450 million versus 2023, with NAST adjusted operating margin targeting 40% and Global Forwarding targeting 30%. Market assumptions include market volume growth of -3% to +1% in 2026, NAST AGP/shipment flat to up 4%, and GF AGP/shipment reset to second half of 2023 levels (down 10%). Management expressed confidence in delivering operating income within its target range despite negative year-over-year market volume growth in the first half of 2026. Contractual repricing of the truckload portfolio is ongoing in response to higher spot market costs.
CHRW YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
CHRW Revenue by Segment
With YoY comparisons, source: SEC Filings
“When I became CEO three years ago, we committed to delivering higher highs and higher lows across freight market cycles. Our second quarter results are yet another example of delivering on that commitment. Despite being in the trough of the freight market demand cycle, with the Cass Freight Shipment Index declining on a year-over-year basis for the 15th consecutive quarter, we hit our mid-cycle operating margin targets in both NAST and Global Forwarding in the second quarter of 2026.”
— Dave Bozeman, Q2 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
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.52 | $1.61 | +5.61% | $4.93B | +13.33% |
| 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% |