C.H. Robinson Shares Drop After Hours After Earnings Disappoint

C.H. Robinson Worldwide Inc. shares fell in the extended session Wednesday after the transportation and logistics company's quarterly earnings came in below Wall Street estimates. C.H. Robinson shares, which had been halted prior to the release of results, dropped 7.7% to $63.40 after hours, following a 1.2% decline on the regular session. The company reported second-quarter earnings of 78 cents on revenue of $3.71 billion. Analysts surveyed by FactSet had estimated earnings of 90 cents a share on revenue of $3.64 billion. "Our results were significantly impacted by truckload margin compression," said Chief Executive John Wiehoff in a statement. "Purchased transportation costs increased significantly during the quarter, while much of our customer pricing is committed at relatively flat prices."