C H Robinson Worldwide Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
For the year, the company reported total net revenues of $2,277,528,000 against $2,268,480,000 a year ago. Income from operations was $837,531,000 against $858,310,000 a year ago. Income before provision for income taxes was $811,950,000 against $822,781,000 a year ago. Net income was $513,384,000 or $3.59 per diluted share against $509,699,000 or $3.51 per diluted share a year ago. Net cash provided by operating activities was $529,408,000 against $718,336,000 a year ago. Purchases of property and equipment were $73,452,000 against $28,115,000 a year ago. Purchases and development of software was $17,985,000 against $16,527,000 a year ago. Cash flow from operations was $529 million. Capital expenditures were approximately $91 million
For 2017, the company expects capital expenditures to return to a range of $60 million to $70 million. The company expects its tax rate to be between 36.5% and low 37%.