REFILE-OCT 20-UPDATE 1-C.H. Robinson Q3 profit beats Wall Street
(Refiles Oct 20 item to remove extraneous text)
* Q3 EPS $0.57 vs est $0.55 * Revenue down 16 pct at $1.95 bln
Oct 20 (Reuters) - Third-party logistics provider C.H. Robinson Worldwide Inc (CHRW.O) posted a quarterly profit that beat estimates by 2 cents, helped by higher revenue from its sourcing and trucking segments.
For the third quarter ended Sept. 30, net income was $95.5 million, or 57 cents a share, compared with $93.6 million, or 54 cents a share, a year ago.
Revenue fell 16 percent to $1.95 billion. Net truck revenue increased 2.1 percent to $268.1 million. Net sourcing revenue rose 9.3 percent to $30.9 million, driven primarily by volume growth and the acquisition of Rosemont Farms Corporation Inc in September.
Analysts on average expected earnings of 55 cents a share, before special items, on revenue of $1.96 billion, according to Thomson Reuters I/B/E/S.
Operating expenses decreased 2.6 percent to $197.8 million. Shares of the Eden Prairie, Minnesota-based company closed at $61.47 Tuesday on Nasdaq. (Reporting by Divya Sharma in Bangalore; Editing by Unnikrishnan Nair)
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