C.H. Robinson Beats on Q3 (EPS $1.67, +24.6%) and Amends Credit Pact for $5.8B RXO Deal
CHRW is trading near its 52-week low of $126.17 (9.0% above the low).
Summary
C.H. Robinson beat on Q3 with adjusted EPS of $1.80 (+28.6%) on 29.5% revenue growth, and separately amended its credit agreement to clear the path and leverage terms for the $5.8 billion RXO acquisition.
Key Events · Earnings and Guidance · CHRW
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Q3 Beat With 29.5% Revenue Growth
Revenue rose 29.5% to $5.36 billion and income from operations grew 23.1% to $271.8 million; diluted EPS of $1.67 was up 24.6% and adjusted diluted EPS of $1.80 up 28.6%.
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Truckload Pricing Outpaced Cost Inflation
NAST truckload adjusted gross profit per shipment rose 17.0% even as linehaul cost per mile climbed 33.5%, and total NAST truckload and LTL volume grew 3.5% against a 0.3% decline in the Cass Freight Shipment Index.
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Credit Pact Amended for RXO Deal
The Fifth Amendment makes the $5.8 billion RXO acquisition a Permitted Acquisition, allows pro forma EBITDA on RXO's historical financials, removes the cash-netting cap, and deems a Leverage Holiday elected at closing.
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Leverage Ceiling Steps Up to 4.25x
The standard maximum Net Leverage Ratio stays at 3.75x, but rises to 4.25x for the closing quarter and the three following quarters; the holiday counts as one of two permitted.
Analysis · CHRW · Energy & Transportation
Two developments landed at once. The core freight business is running well ahead of the market: revenue rose 29.5% to $5.36 billion and adjusted diluted EPS climbed 28.6% to $1.80, with NAST truckload adjusted gross profit per shipment up 17.0% even as linehaul cost per mile rose 33.5%. That is pricing discipline, not a soft comp. Alongside it, the company locked in lender consent for the $5.8 billion RXO acquisition, which matters more for the thesis: the amendment makes RXO a Permitted Acquisition, lets pro forma EBITDA include RXO's historical financials, removes the cap on cash netting, and automatically grants a Leverage Holiday that lifts the maximum Net Leverage Ratio to 4.25x from 3.75x for the closing quarter and the three after it. Financing is sized at up to $3.5 billion of notes and/or term loans plus a $4.5 billion 364-day bridge, capped at $4.5 billion combined. The trade-off is real: buybacks are now paused, and cash from operations fell $151.3 million to $124.1 million on working capital tied up by higher freight rates. Closing is targeted for the first half of 2027, pending an RXO shareholder vote and antitrust clearance.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 36.5% of the 953 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.66%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CHRW was trading at $137.50 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $16.6B. The 52-week trading range was $126.17 to $210.33. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.