C. H. Robinson (CHRW) investor relations material

Executive summary

• Achieved mid-cycle operating margin targets in both NAST and Global Forwarding despite a prolonged freight market trough, with NAST volume outpacing the Cass Freight Shipment Index for the 13th consecutive quarter and Lean AI initiatives driving over 60% productivity improvement since 2022.

• Customer satisfaction scores remain exceptionally strong, reflecting a focus on differentiated service.

• Adjusted operating income rose 19.5% year-over-year, with net income up 22.5% to $186.8 million and adjusted diluted EPS up 24.8% to $1.61.

Financial highlights

• Q2 2026 total revenues increased 19.3% year-over-year to $4.93 billion, with adjusted gross profits up 6.5% to $738.0 million and income from operations up 18.4% to $255.7 million.

• NAST adjusted gross profits grew 8.6% year-over-year; Global Forwarding adjusted gross profits up 0.7%; Robinson Fresh up 6.5%; Managed Solutions up 11.9%.

• Personnel expenses were $338.5 million; average employee headcount declined 10.8% year-over-year.

• Cash generated by operations decreased by $191.2 million to $35.9 million; $301.3 million returned to shareholders in Q2 2026.

Outlook and guidance

• 2026 capital expenditures projected at $65 million to $75 million; SG&A expense guidance narrowed to $540M–$580M.

• Full-year 2026 effective tax rate expected to be 18% to 20%.

• Management maintains confidence in achieving operating income targets of $964M–$1.04B, even with up to -3% market contraction.

• Restructuring program to continue through early 2028, targeting $50–$75 million in total charges.