C.H. Robinson

C.H. Robinson expands into Southeast Asia with new office in Philippines

Global logistics provider C.H. Robinson is expanding its footprint in the Asia-Pacific region by opening a new office in the Philippines.

This strategic move aims to enhance support for the country’s burgeoning logistics and transportation sectors, aligning with the company’s commitment to delivering customized services in key global markets.

The Philippines, known for its robust economy and projected 6% growth in 2024, is experiencing rising demand for freight and logistics services driven by...

https://container-news.com/c-h-robinson-expands-into-southeast-asia-with-new-office-in-philippines/

C.H. Robinson slashes over 50% of US sales team, sources say

Truck brokerage giant C.H. Robinson Worldwide laid off around 80 members of its remaining 150 sales representatives in the U.S. on Thursday, according to sources familiar with the cuts.

The source said the sales division of the publicly traded brokerage has slashed U.S. sales jobs by around 89% over the past six years as it turned its focus from its people to embracing technology.

“We once had about 650 sales reps in the U.S. divisions, but that number dropped as C.H. Robinson’s focus switched...

https://www.freightwaves.com/news/c-h-robinson-slashes-over-50-of-us-sales-team-sources-say

C.H. Robinson joins TriumphPay’s payments platform

Triumph Financial announced Monday that C.H. Robinson has joined its freight payments platform. The strategic partnership opens the menu of transportation finance solutions on the TriumphPay Network to C.H. Robinson’s 450,000 contract carriers.

“By joining forces, we have the ability to deliver financial payment offerings that streamline processes, improve efficiencies and foster growth with and for carriers,” stated Michael Castagnetto, president of North American surface transportation at C.H....

https://www.freightwaves.com/news/c-h-robinson-joins-triumphpays-payments-platform

C.H. Robinson executive highlights promise of generative AI in logistics

ATLANTA — With AI in general and generative AI in particular the talk of the FreightWaves Future of Supply Chain event, Megan Orth of C.H. Robinson reached for several analogies to describe generative AI’s use at her freight brokerage and in logistics generally.

“It’s kind of like APIs 10 years ago,” Orth said, referring to application programming interfaces, which allow different types of software to communicate with each other.

When APIs first emerged, Orth — senior director of commercial...

https://www.freightwaves.com/news/c-h-robinson-executive-highlights-promise-of-generative-ai-in-logistics

For the first time in years, C.H. Robinson’s debt rating is downgraded by S&P Global

C.H. Robinson has had its credit rating downgraded for the first time in at least six years, but its latest rating of BBB, down from BBB+, does keep the 3PL as an investment-grade credit rating.

The downgrade comes just slightly less than one year after S&P reduced the outlook on C.H. Robinson (NASDAQ: CHRW) to negative from stable while affirming its BBB+ rating. A move to a negative outlook usually ends either with a downgrade (possibly many months later, as in the case of C.H. Robinson) or a...

https://www.freightwaves.com/news/for-the-first-time-in-years-c-h-robinsons-debt-rating-is-downgraded-by-sp-global

C.H. Robinson leveraging AI tools to answer email requests for quotes

C.H. Robinson on Tuesday provided details on a technological milestone it touched on during its first-quarter earnings call last week.

The 3PL said it now processes 2,000 customer quote requests daily via email for 2,268 customers using a sophisticated large-language model. This AI technology, trained extensively on vast data sets, enables the company to efficiently recognize and generate text or email responses back to customers.

Related: C.H. Robinson stock blasts higher after strong...

https://www.freightwaves.com/news/c-h-robinson-leveraging-ai-tools-to-answer-email-requests-for-quotes

RXO, still suffering from weak market, touts Q1 volume growth

RXO’s earnings released Thursday, like those of C.H. Robinson a day before, looked to various data points to show “green shoots” that indicate a market bottom for 3PLs may have been reached and a turnaround has commenced.

The focus at C.H. Robinson was on its sequential performance, and investors Thursday liked what they saw a day earlier. Robinson’s stock price was up 12.26%, or $8.84, to $80.93. It was one of the biggest gainers of any stocks for the day.

Although the indicators cited by RXO...

https://www.freightwaves.com/news/rxo-still-suffering-from-weak-market-touts-q1-volume-growth

C.H. Robinson stock blasts higher after some strong first-quarter numbers

With year-to-year comparisons as tough as would have been expected, C.H. Robinson’s earnings report chose to highlight how the 3PL did sequentially, where signs of improvement were not hard to find.

The numbers overall were strong enough to lead analyst Jeff Kauffman of Vertical Partners on the company’s earnings call to say something that hasn’t been heard much in earlier post-earnings discussions at C.H. Robinson: “Congratulations, to see numbers like this.”

And in a more broad round of...

https://www.freightwaves.com/news/c-h-robinson-stock-blasts-higher-after-some-strong-first-quarter-numbers

+ More