C.H. Robinson faced challenges with rising spot rates in the fourth quarter, impacting its sequential numbers and year-on-year comparisons. Despite this, the stock soared to a 52-week high of $196, up 6.7%. Adjusted non-GAAP earnings beat consensus estimates by 10 cents per share.

The company saw declines in truckload and LTL adjusted gross profits in the fourth quarter compared to the third quarter and a year ago. Total adjusted gross profits were down to $657 million. Cost savings continued with a 12.9% drop in headcount year-on-year.

C.H. Robinson reported a 1% increase in volume at its North American Surface Transport segment year-on-year, with truckload up 3%. Adjusted operating margin was 27.6%, down from the third quarter. CEO Dave Bozeman cited challenges from weak global freight demand and rising spot costs.

Bozeman credited the company’s Lean AI for consistent outperformance, despite challenges in the fourth quarter. He mentioned seasonal capacity declines, winter storms, and driver regulations as factors contributing to rising spot freight rates. Earnings call with analysts was set for 5:30 p.m. EST Wednesday.

Read more at Yahoo Finance: C.H. Robinson talks of the tough market, but stock soars yet again