C.H. Robinson Worldwide, Inc.'s (CHRW) CEO Bob Biesterfeld on Q2 2022 Results - Earnings Call Transcript

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Q2 2022 Earnings Conference Call July 27, 2022 5:00 PM ET

Company Participants

Chuck Ives - Director of Investor Relations

Bob Biesterfeld - President & Chief Executive Officer

Arun Rajan - Chief Product Officer

Mike Zechmeister - Chief Financial Officer

Conference Call Participants

Todd Fowler - KeyBanc Capital Markets

Jason Seidl - Cowen & Company

Brian Ossenbeck - J.P. Morgan

Ken Hoexter - Bank of America

Jordan Alliger - Goldman Sachs

Jizong Chan - Stifel

Jack Atkins - Stephens

Scott Group - Wolfe Research

Chris Wetherbee - Citi

Tom Wadewitz - UBS

Charles Yukevich - Evercore ISI

Operator

Good afternoon, ladies and gentlemen, and welcome to the C.H. Robinson Second Quarter 2022 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded, Wednesday, July 27, 2022.

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 Bob Biesterfeld, our President and Chief Executive Officer; Arun Rajan, our Chief Product Officer; and Mike Zechmeister, our Chief Financial Officer. Bob and Mike will provide a summary of our 2022 second quarter results and Arun will provide an update on the innovation and development occurring across our platform, and then we will open the call up for questions.

Our earnings presentation slides are supplemental to our earnings release and can be found on 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. 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 Bob.

Bob Biesterfeld

Thank you, Chuck. Good afternoon, everyone, and thank you for joining us today. Our second quarter was another quarter of record profits as our business model performed as we would expect it to in this part of the cycle. Our investments in our customer relationships through the early part of the cycle, while the cost of purchased transportation was rapidly increasing, are paying dividends as we retain and gain share with these customers through the terms of our agreements.