C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Q4 2023 Earnings Call Transcript January 31, 2024 5:00 PM ET

Company Participants

Chuck Ives - Director of IR

Dave Bozeman - President and CEO

Arun Rajan - COO

Mike Zechmeister - CFO

Conference Call Participants

Brian Ossenbeck - JPMorgan

Jack Atkins - Stephens, Inc.

Jon Chapelle - Evercore ISI

Chris Wetherbee - Citi

Stephanie Moore - Jefferies

Jeff Kauffman - Vertical Research Partners

Bruce Chan - Stifel

David Vernon - Bernstein

Operator

Good afternoon, ladies and gentlemen, and welcome to the C.H. Robinson Fourth Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. Following the company's prepared remarks, we will open the line for a live question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded, Wednesday, January 31st, 2024. I would now like to turn the conference over to Chuck Ives, Director of Investor Relations.

Chuck Ives

Thank you, Donna, and good afternoon, everyone. On the call with me today is Dave Bozeman, our President and Chief Executive Officer; Arun Rajan, our Chief Operating Officer; and Mike Zechmeister, our Chief Financial Officer. Dave and Mike will provide a summary of our fourth quarter results and our expense guidance for 2024. Arun will provide an update on our initiatives to improve the customer and carrier experience, improve operating leverage and increased focus on revenue management. And Dave will share the findings from his initial diagnosis of the company. From there, we will open the call up for questions.

Our earnings presentation slides are supplemental to our earnings release and can be found in the Investors section of our website at investor.chrobinson.com. Our prepared comments are not intended to follow the slides. If we do refer to specific information on the slides, we will let you know which slide we're referencing.

Today's remarks also contain certain non-GAAP measures and reconciliations of those measures to GAAP measures are included in the presentation. I'd also like to remind you that our remarks today may contain forward-looking statements. Slide 2 in today's presentation lists factors that could cause our actual results to differ from management's expectations.

And with that, I'll turn the call over to Dave.

Dave Bozeman

Thank you, Chuck. Good afternoon, everyone, and thank you for joining us today. Our fourth quarter results did not meet our expectations as we continue to battle through a poor demand and pricing environment. But we made progress on a number of important initiatives, including charting our path forward.