As global shipping continued to face disruptions in the first quarter, logistics company C.H. Robinson helped keep shipments moving.
As a result, the Eden Prairie-based company had one of its best first quarters over the past five years.
"We are proud of our first-quarter results," said the company's chief executive, Bob Biesterfeld, in a statement. "As global-shipping markets remain disrupted, our team around the globe stayed focused on serving the needs of our customers and delivering innovative solutions to keep global supply chains moving."
C.H. Robinson — one of the largest third-party logistics companies in the world — reported record quarterly revenue of $4.8 billion, a 26.3% increase over the same period last year. The company more than doubled earnings to $173.3 million, or $1.28 per share.
Revenue exceeded analyst expectations by 9% and earnings per share by 30%.
The results, Biesterfeld said, demonstrated the "strength and earnings power" of the company's business model.
Adjusted gross profit was $702.4 million, a 24% increase compared with the first quarter last year. The March 2020 acquisition of Prime Distribution Services, a provider of retail consolidation and value-added warehouse services, also helped the gross profit increase.
C.H. Robinson's two largest business segments, North American Surface Transportation (NAST) and Global Forwarding, set the pace for the company during the quarter.