The right dose of financial engineering is often used by US-based 3PLs to boost shareholder value, and 2018 was no exception for CH Robinson, which opened the earnings season for asset-light T&L firms on Tuesday, showing that cash returns to shareholders and a solid operating performance were a winning combo in the past 12 months, when it delivered record annual results.

While it’s clearly a stellar annual performance – its results, counterintuitively, point to more trouble than joy ahead, if we ...

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