C.h. Robinson Worldwide, Inc. · NASDAQ:CHRW
C.h. Robinson Worldwide — Q3 2025 Earnings Presentation
28 slides from C.h. Robinson Worldwide's earnings presentation, Oct 29, 2025
Slide 1: Q3 2025 Earnings Presentation
Q3 2025 Earnings Presentation October 29, 2025 2024 INVESTOR DAY
Slide 2: Safe Harbor Statement
Safe Harbor Statement Except for the historical information contained herein, the matters set forth in this presentation are forward-looking statements that represent our expectations, beliefs, intentions or strategies concerning future events. These forward-looking statements are subject to certain
Slide 3: Thoughts from President & CEO, Dave Bozeman
Thoughts from President & CEO, Dave Bozeman ■ Q3 results provide another proof point of the disciplined execution of our strategy. ■ In NAST, we grew our combined truckload and LTL volume by approximately 3.0% year-over-year and demonstrably grew market share vs. a 7.2% decline in the Cass Freight S
Slide 4: Q3 Highlights
Q3 Highlights ■ North American Surface Transportation (NAST) gained market share in truckload and LTL, expanded gross margins through disciplined pricing and a cost of hire advantage Q3 2025 ■ Global Forwarding (GF) improved its portfolio yield and expanded gross margins through disciplined pricing
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) Q3 2025 Adjusted Global Forward
Slide 6: NAST Q3'25 Results by Service
NAST Q3’25 Results by Service Adjusted Gross Profits(1) Third Quarter Highlights ($ in millions) ■ Total NAST truckload and LTL volume grew 3.0% Y/Y, 3Q25 3Q24 %▲ reflecting the 10th consecutive quarter of market share growth(2) Truckload (“TL”) $267.4 $260.0 2.9% ■ Truckload volume increased 3.0% Y
Slide 7: YoY % Change in Price and Cost per Mile
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 YoY Price Change YoY Cost Change Truckload Q3 ■ 70% / 30% truckload contractual / transactional volume mix in Q3 Volume(2)(4) +3.0
Slide 8: NAST Adjusted Gross Profit $ per Truckload Shipment
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 Q3'25 Results by Service
Global Forwarding Q3’25 Results by Service Adjusted Gross Profits (1) Third Quarter Highlights ($ in millions) ■ Global trade policies caused previous front-loading of volume, a dislocation of global demand and a softer than normal peak season 3Q25 3Q24 %▲ ■ Ongoing conflict in the Red Sea continued
Slide 10: All Other & Corporate Q3'25 Results
All Other & Corporate Q3’25 Results Adjusted Gross Profits (1) Third Quarter Highlights ($ in millions) Robinson Fresh 3Q25 3Q24 %▲ ■ Increased AGP due to an increase in integrated supply Robinson Fresh $40.2 $36.7 9.5% chain solutions for foodservice customers Managed Solutions Managed Solutions $3
Slide 11: Robinson Operating Model
Robinson Operating Model 1 2 3 4 5 Clear Defined Scorecard: Continuous Continuously Long-Term Strategic Measurable and and Rigorous Improving. Strategy Workstreams Actionable Measurement Never and Goals Inputs and Action Stops. Plans • Enterprise • Enterprise • Regular • Accountable Strategy Map • D
Slide 12: Streamlining & Automating Processes to Drive Profitable Growth
Streamlining & Automating Processes to Drive Profitable Growth 12
Slide 13: The Multifaceted World of AI
The Multifaceted World of AI From machine learning to multi-agent models with advanced reasoning What: Machine learning, predictive What: Large language models What: Large language models plus planning, tool use, analytics, optimization (ChatGPT) memory, natural interaction, and optimization. How: A
Slide 14: Meet the Fleet of C.H. Robinson AI Agents
Meet the Fleet of C.H. Robinson AI Agents Just a sample of the agents performing tasks that defied automation for decades Quote Agents Order Agents Appointment Agents Truck Post Agents I provide customers with I build and update orders I book and reschedule I post available truckload transactional q
Slide 15: Capital Allocation Priorities: Balanced and Opportunistic
Capital Allocation Priorities: Balanced and Opportunistic Cash Flow from Operations & Capital Distribution ($M) ■ The Y/Y increase in cash from operations was driven by growth in net income and a favorable Y/Y change in net ■ $190 million of cash returned to shareholders in Q3 2025 operating working
Slide 16: Our Updated 2026 Financial Target
Our Updated 2026 Financial Target 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 dr
Slide 17: Updated 2026 Operating Income Bridge
Updated 2026 Operating Income Bridge ~$6.00 EPS3 ($965M of adjusted operating income) expected if market growth is 0% 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
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: Q3 2025 Transportation Results
Q3 2025 Transportation Results(1) Three Months Ended September 30 Nine Months Ended September 30 $ in thousands 2025 2024 % Change 2025 2024 % Change Total Revenues $ 3,783,535 $ 4,278,300 (11.6)% $ 11,252,110 $ 12,482,818 (9.9)% Total Adjusted Gross Profits(2) $ 670,852 $ 702,317 (4.5)% $ 1,965,416
Slide 21: Q3 2025 NAST Results
Q3 2025 NAST Results Three Months Ended September 30 Nine Months Ended September 30 $ in thousands 2025 2024 % Change 2025 2024 % Change Total Revenues $ 2,965,694 $ 2,934,617 1.1 % $ 8,752,341 $ 8,924,839 (1.9)% Total Adjusted Gross Profits(1) $ 444,139 $ 420,664 5.6 % $ 1,294,711 $ 1,237,431 4.6 %
Slide 22: Q3 2025 Global Forwarding Results
Q3 2025 Global Forwarding Results Three Months Ended September 30 Nine Months Ended September 30 $ in thousands 2025 2024 % Change 2025 2024 % Change Total Revenues $ 786,347 $ 1,141,190 (31.1)% $ 2,359,035 $ 2,921,050 (19.2)% Total Adjusted Gross Profits(1) $ 191,755 $ 234,636 (18.3)% $ 563,964 $ 5
Slide 23: Q3 2025 All Other and Corporate Results
Q3 2025 All Other and Corporate Results Three Months Ended September 30 Nine Months Ended September 30 $ in thousands 2025 2024 % Change 2025 2024 % Change Total Revenues $ 384,805 $ 568,834 (32.4%) $ 1,208,753 $ 1,694,411 (28.7%) Total Adjusted Gross Profits(1) $ 70,183 $ 79,953 (12.2%) $ 213,721 $
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
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