CHRW US S&P 500Russell 1000 Earnings call
C.H. Robinson (CHRW) · Q2 2026 results and valuation
Share price: $133.76 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 29 Apr 2026
Net income up 26.9% on the previous quarter. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+26.9%
Net income vs Q1 2026
Outlook given
Net income 186.8M vs 147.2M
Revenue +23.0%
Against the same quarter last year (Q2 2025) it is +22.5%, so it is not just seasonal.
2 · How management spoke
Typical
More upbeat than 54% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Figure
CHRW's truckload linehaul cost per mile rose 29% year-over-year, putting significant pressure on its contractual margins.
Valuation
Is C.H. Robinson undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At −13.1% growth a year (3-year revenue growth), the model's fair value is $23.00 a share — the stock trades 482% above it. Today's price assumes 7.1% growth a year.
Current price
$133.76
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+7.1% for 10 yrs
Fair value / share
$23.00
Buy below
$17.25
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
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Key theme
CHRW expects its cost-to-serve model to strengthen further as AI automates more of the quote-to-cash lifecycle, reinforcing its scalability.
Source quote
“We achieved this through disciplined execution of our Lean AI... Despite being in the trough of the freight market demand cycle with the Cass Freight Shipment Index declining on a year-over-year basis for the 15th consecutive quarter, we hit our mid-cycle operating margin targets in both NAST and Global Forwarding in Q2.”
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Guidance
The company is maintaining its full-year tax rate guidance of 18% to 20% after reporting an effective tax rate of 21.5% for the quarter.
Source quote
“Our effective tax rate for the quarter was 21.5% and we are maintaining our tax rate guidance of 18% to 20% for the full year.”
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Guidance
The company expects to strengthen its cost to serve model by using AI capabilities to automate more of the quote-to-cash lifecycle.
Source quote
“Our industry-leading cost to serve model is highly scalable and we expect it to strengthen further as we harness AI's capabilities to automate more of the quote-to-cash lifecycle...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“But the consistency of our disciplined execution and continued progress in growing market share, optimizing gross profit, improving productivity and expanded operating leverage reinforces our confidence in both our operating...”
“Our Q2 results demonstrate again how disciplined execution and our Lean AI strategy are driving secular earnings growth and meaningful progress against our strategic priorities, including market share gains, gross...”
“In my first 3 years leading this company, I'm proud of the progress we've made to transform C.H.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 4.93B | 4.01B | +23.0% | 4.14B | +19.3% |
| Operating income | 255.7M | 175.7M | +45.6% | 215.9M | +18.4% |
| Net income | 186.8M | 147.2M | +26.9% | 152.5M | +22.5% |
| EPS | 1.56 | 1.22 | +27.9% | 1.26 | +23.8% |
| P/E today 26.8 | 35.9 | 33.6 | +2.3 | 21.8 | +14.1 |
Topics
Most discussed now
- New C.H. Robinson ands its insurance carriers who had appellate counsel present at the proceedings expect to be successful on appeal.
- C.H. Robinson's earnings presentation slides are supplemental to its earnings release and can be found in the Investors section of its...
- When I became CEO 3 years ago, C.H. Robinson committed to delivering higher highs and higher lows across freight market cycles.
- The result has been evergreen productivity improvements of over 60% since the end of 2022 in both NAST and Global...
- Excluding fuel, DAT spot rates in Q2 increased approximately 34% year-over-year, up from approximately 19% in Q1.
Faded since Q1 2026
- Fading Industry's tender rejection rates increased by continuing to exercise C.H. Robinson's disciplined revenue management practices, by…
- Fading Excluding restructuring charges, C.H. Robinson's Q1 personnel expenses were $334 million, down $13.4 million or 3.9%, primarily due to its…
- Dropped C.H. Robinson prioritizes its efforts based on ROI, leveraging extensive instrumentation to identify the most manual and high-friction work…
- Fading C.H. Robinson continues to outperform by opportunistically capturing transactional volumes at higher margins as the industry's tender…
Latest announcements
Official filings, newest first.
- Material agreement; Regulation FD disclosure · SEC 8-K
- Results of operations · SEC 8-K
- Regulation FD disclosure · SEC 8-K
- Director or officer change · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K