đŁ 2025 Produce Season
True âproduce seasonâ in the continental United States lasts from about April to October, with Sun Belt markets dominating April through June and Midwestern markets dominating July through October.
C.H. Robinson's operating income is down 60%.
We're shedding light on the Q3 2023 earnings reports from major freight and logistics players: C.H. Robinson, Werner Enterprises, and Schneider National. Each reveals unique challenges and strategies, with some navigating better than others amidst a turbulent market landscape. Cost-cutting, acquisitions, and changing investor sentiment form the backdrop, while smaller entities like Trimble and Nikola provide contrasting narratives.
It's a brutal freight market out there.
â The Conveyor (@ConveyorDaily) November 2, 2023
CH Robinson ($CHRW) gross profits (Jan - Sep):
2019: $2 billion
2020: $1.7 billion
2021: $2.3 billion
2022: $2.8 billion
2023: $1.9 billion pic.twitter.com/yddWouzJQ1
Trimble (TRMB): Q3 transportation revenue rose to $196.6 million, a 35% y/y increase, with earnings of 68 cents per share, beating Wall Street's expectations.
Nikola (NKLA): Net loss of $425.8 millionâ an increase of 80.3% YoYâ after recalling all 209 battery-powered trucks, shipping only three trucks compared to 63 the previous year.
Nikola earnings are rough: âNet loss for the quarter ended Sept. 30 stood at $425.8 million, compared with $236.2 million a year earlier.âhttps://t.co/EdNEzCil0u
â Dooner đ´ââ ď¸ (@TimothyDooner) November 2, 2023
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