Benzinga | Oct 28, 2020 11:00AM EDT

Why CH Robinson Worldwide's Stock Is Trading Lower Today

C.H. Robinson Worldwide (NASDAQ:CHRW) shares are trading lower on Wednesday after the company reported third-quarter earnings results. The company reported income from operations decreased by 16.3% to $168.2 million.

C.H. Robinson is a top-tier non-asset-based third-party logistics provider with a significant focus on domestic freight brokerage (66% of net revenue), which reflects mostly truck brokerage but also rail intermodal. It also operates a growing air and ocean forwarding unit (20%) and a legacy produce-sourcing operation (9%). The remainder of net revenue reflects transportation management services and the firm's European truck brokerage operations.

C.H. Robinson Worldwide shares traded down 7.87% to $92.16 on Wednesday at the time of publication. The stock has a 52-week high of $106.75 and a 52-week low of $56.94.