C.h. Robinson Worldwide, Inc. · NASDAQ:CHRW
C.h. Robinson Worldwide — Q1 2026 Earnings Presentation
28 slides from C.h. Robinson Worldwide's earnings presentation, Apr 29, 2026
Slide 1: Q1 2026 Earnings Presentation
Q1 2026 Earnings Presentation April 29, 2026 2024 INVESTOR DAY
Slide 2: Safe Harbor Statement
Safe Harbor Statement Except for the historical information contained herein, the matters set forth in this release are forward-looking statements that represent our expectations, beliefs, intentions or strategies concerning future events. These forward-looking statements are subject to certain risk
Slide 3: Thoughts from President & CEO, Dave Bozeman
Thoughts from President & CEO, Dave Bozeman ■ Secular earnings growth has consistently been generated by the new C.H. Robinson regardless of market conditions. ■ Q1 2026 was another example of this, with our adjusted net income per share(1) increasing 15% year-over-year despite a significant increas
Slide 4: Q1 Highlights
Q1 Highlights ■ North American Surface Transportation (NAST) gained market share in truckload and LTL. Through revenue management discipline and a cost of hire advantage, NAST gross margins flat Y/Y despite a significant increase in truckload spot market costs Q1 2026 ■ Global Forwarding (GF) improv
Slide 5: Complementary Global Suite of Services
Complementary Global Suite of Services Over half of total revenues are garnered from customers to whom we provide both surface transportation and global forwarding services, and this percentage has grown year-over-year due to our One Robinson go-to-market approach.(1) Q1 2026 Adjusted Global Forward
Slide 6: NAST Q1'26 Results by Service
NAST Q1’26 Results by Service Adjusted Gross Profits(1) First Quarter Highlights ($ in millions) ■ Total NAST truckload and LTL volume was flat Y/Y, reflecting 1Q26 1Q25 %▲ the 12th consecutive quarter of market share growth compared to a 6.2% decline in the Cass Freight Shipment Truckload (“TL”) $2
Slide 7: Truckload Price and Cost Change
Truckload Price and Cost Change (1)(2)(3) 50% YoY % Change in Price and Cost per Mile 40% 30% 20% 10% 0% -10% -20% -30% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 YoY Price Change YoY Cost Change Truckload Q1 ■ 70% / 30% truckload contractual / transactional volume mix in Q1 vs 65% / 35%
Slide 8: Truckload AGP $ per Shipment Trend
Truckload AGP $ per Shipment Trend NAST Adjusted Gross Profit $ per Truckload Shipment (left axis) NAST Adjusted Gross Profit Margin % (right axis) Average NAST AGP $ per Truckload Shipment (left axis) 20% NAST Adjusted Gross Profit $ per Truckload 19% NAST Adjusted Gross Profit Margin % 18% 17% Shi
Slide 9: Global Forwarding Q1'26 Results by Service
Global Forwarding Q1’26 Results by Service Adjusted Gross Profits (1) First Quarter Highlights ($ in millions) ■ Soft demand and increasing vessel capacity caused ocean rates to 1Q26 1Q25 %▲ decline significantly Y/Y ■ Ocean AGP decreased due to a 12.5% decrease in AGP per Ocean $89.8 $115.3 (22.1)%
Slide 10: All Other & Corporate Q1'26 Results
All Other & Corporate Q1’26 Results Adjusted Gross Profits (1) First Quarter Highlights ($ in millions) Robinson Fresh 1Q26 1Q25 %▲ ■ Decline in AGP driven by margin compression primarily in Robinson Fresh $37.5 $37.7 (0.4)% retail customers Managed Solutions Managed Solutions $29.6 $27.8 6.3% ■ Tot
Slide 11: Robinson Operating Model
Robinson Operating Model 1 2 3 4 5 Clear Defined & Scorecard: Continuous, Continuously Long-Term Cascaded Measurable & Rigorous Improving. Strategy Strategy Maps Actionable Measurement Never & Targets Inputs & Action Stops. Plans • Divisional • Enterprise Strategy Maps • Binary view of • Accountable
Slide 12: Streamlining & Automating Processes to Drive Profitable Growth
Streamlining & Automating Processes to Drive Profitable Growth 12
Slide 13: The Multifaceted World of AI
The Multifaceted World of AI From machine learning to multi-agent models with advanced reasoning What: Machine learning, predictive What: Large language models What: Large language models plus planning, tool use, analytics, optimization (ChatGPT) memory, natural interaction, and optimization How: Ad
Slide 14: Meet the Fleet of C.H. Robinson AI Agents
Meet the Fleet of C.H. Robinson AI Agents Just a sample of the agents performing tasks that defied automation for decades Quote Agents Order Agents Appointment Agents Truck Post Agents I provide customers with I build and update orders I book and reschedule I post available truckload transactional q
Slide 15: Capital Allocation Priorities: Balanced and Opportunistic
Capital Allocation Priorities: Balanced and Opportunistic Cash Flow from Operations & Capital Distribution ($M) ■ $360 million of cash returned to shareholders in Q1 2026 ■ The Y/Y decrease in cash from operations was driven primarily by an unfavorable sequential change in net ■ Q1 2026 capital dist
Slide 16: Our Updated 2026 Financial Target
Our Updated 2026 Financial Target1 Key Assumptions ~$400M - $500M • Outsized volume growth in NAST and GF $350M-$450M • Ongoing gross margin expansion Incremental Adjusted Operating Income driven by technology vs. 2023 enhancements and disciplined revenue management Mid-Cycle • Consistent focus on d
Slide 17: 2026 Operating Income Bridge
2026 Operating Income Bridge1 ~$6.00 Adjusted EPS1,2 ($964M of adjusted operating income) with 0% market growth in 2026 Market Assumptions • Market volume growth of flat to up 5% in 2026 • Market normalization • NAST AGP/shipment flat to up 2% • GF AGP/shipment reset to 2H 2023 (down 10%) Key Driver
Slide 18: Our Customer Promise
Our Customer Promise © C.H. Robinson Worldwide, Inc. All rights reserved. 18
Slide 19: Appendix
Appendix 2024 INVESTOR DAY
Slide 20: Q1 2026 Transportation Results
Q1 2026 Transportation Results(1) Three Months Ended March 31 $ in thousands 2026 2025 % Change Total Revenues $ 3,643,711 $ 3,721,915 (2.1)% Total Adjusted Gross Profits(2) $ 628,401 $ 640,545 (1.9)% Adjusted Gross Profit Margin % 17.2% 17.2% — bps Transportation Adjusted Gross 2017 2018 2019 2020
Slide 21: Q1 2026 NAST Results
Q1 2026 NAST Results Three Months Ended March 31 $ in thousands 2026 2025 % Change Total Revenues $ 2,947,323 $ 2,868,420 2.8 % Total Adjusted Gross Profits(1) $ 431,077 $ 418,324 3.0 % Adjusted Gross Profit Margin % 14.6% 14.6% — bps Income from Operations(2) $ 145,130 $ 143,671 1.0 % Adjusted Oper
Slide 22: Q1 2026 Global Forwarding Results
Q1 2026 Global Forwarding Results Three Months Ended March 31 $ in thousands 2026 2025 % Change Total Revenues $ 664,730 $ 774,888 (14.2)% Total Adjusted Gross Profits(1) $ 162,291 $ 184,628 (12.1)% Adjusted Gross Profit Margin % 24.4% 23.8% 60 bps Income from Operations(2) $ 31,684 $ 42,943 (26.2)%
Slide 23: Q1 2026 All Other and Corporate Results
Q1 2026 All Other and Corporate Results Three Months Ended March 31 $ in thousands 2026 2025 % Change Total Revenues $ 400,881 $ 403,432 (0.6%) Total Adjusted Gross Profits(1) $ 67,125 $ 70,136 (4.3%) Income (loss) from Operations(2) $ (1,128) $ (9,761) N/M Depreciation and Amortization $ 18,154 $ 1
Slide 24: Non-GAAP Reconciliations
Non-GAAP Reconciliations Our adjusted gross profit and adjusted gross profit margin are non-GAAP financial measures. Adjusted gross profit is calculated as gross profit excluding amortization of internally developed software utilized to directly serve our customers and contracted carriers. Adjusted
Slide 25: Non-GAAP Reconciliations
Non-GAAP Reconciliations Our adjusted operating margin is a non-GAAP financial measure calculated as operating income divided by adjusted gross profit. Our adjusted operating margin - excluding restructuring, lease impairment charge and/or loss on divestiture is a similar non-GAAP financial measure
Slide 26: Non-GAAP Reconciliations
Non-GAAP Reconciliations Our adjusted income (loss) from operations, adjusted operating margin - excluding restructuring, lease impairment charge and/or loss on divestiture, adjusted net income and adjusted net income per share (diluted) are non-GAAP financial measures. These non-GAAP measures are c
Slide 27: Non-GAAP Reconciliations
Non-GAAP Reconciliations Our adjusted income (loss) from operations, adjusted operating margin - excluding restructuring, lease impairment charge and/or loss on divestiture, adjusted net income and adjusted net income per share (diluted) are non-GAAP financial measures. These non-GAAP measures are c
Slide 28: Thank you
Thank you INVESTOR RELATIONS: Chuck Ives 952-683-2508 2024 INVESTOR DAY chuck.ives@chrobinson.com
C.H. Robinson Worldwide — Q1 2026 Earnings Presentation on 6ix