Financial research concept

Freight Broker LTL Adjusted Gross Profit

LTL adjusted gross profit measures the broker's retained economics from less-than-truckload services after purchased carrier costs under the issuer's adjusted gross profit definition.

By Lee BaileyPublished Sep 25, 2026

Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date: Sep 25, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 19 connected conceptsPart of the reviewed Freight Brokerage & Forwarding Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

C.H. Robinson example
Why it matters
Source
Part of the Freight Brokerage & Forwarding Economics
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LTL adjusted gross profit measures the spread a freight intermediary retains from less-than-truckload services after purchased carrier costs under the issuer's adjusted gross profit definition.

C.H. Robinson example

C.H. Robinson reported $603.1 million of LTL adjusted gross profit in 2025, up 6.6% from 2024.

Its LTL service-line volume increased 1.5%, so adjusted gross profit grew faster than reported volume.

Why it matters

LTL brokerage economics can improve through:

better carrier procurement;
pricing discipline;
shipment consolidation;
customer mix;
lane density; and
technology-driven quote accuracy.

The broker's metric is different from an LTL carrier's revenue per shipment or operating ratio because the broker does not own the same transportation asset base.

Source

C.H. Robinson 2025 Form 10-K

Part of the Freight Brokerage & Forwarding Economics

Connect customer freight activity, purchased transportation, brokerage spread, surface-transport pricing, capacity signals, and forwarding volume and profit to understand asset-light logistics economics.

Browse the full operating model in Company Analysis →

Where this concept fits

North American surface pricing, volume, and capacityCurrent relationship
Truckload and LTL volume show transaction activity, service-line adjusted gross profit shows retained economics, and customer-versus-carrier linehaul changes frame the truckload pricing spread. Routing-guide depth adds a capacity signal by showing how far a managed load moves through preferred carrier options before acceptance.
LTL Adjusted Gross ProfitCurrent conceptBroker LTL Volume Growth Routing Guide Depth Truckload Adjusted Gross Profit Carrier Linehaul Cost per Mile Customer Linehaul Rate per Mile Broker Truckload Volume Growth
Network activity, purchased capacity, and retained spread
Shipments managed, freight under management, and contract-carrier scale describe the activity and sourcing network. Purchased transportation is the principal direct capacity cost, while adjusted gross profit and adjusted gross profit margin show the spread retained after buying transportation.
Freight Broker Adjusted Gross Profit Adjusted Gross Profit Margin Contract Carrier Network Freight Under Management Purchased Transportation Cost Shipments Managed
Global forwarding volume and adjusted gross profit
Ocean, air, and customs volume changes show forwarding activity, while the matching adjusted gross profit measures show whether retained economics move with or diverge from volume as carrier rates, trade conditions, and service mix change.
Air Adjusted Gross Profit Air Volume Growth Customs Adjusted Gross Profit Customs Volume Growth Ocean Adjusted Gross Profit Ocean Volume Growth

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

CHRWOpen operating-model research →19 of 19 reviewed concepts in Freight Brokerage & Forwarding EconomicsNorth American surface pricing, volume, and capacity7 of 7 bridge concepts supportedContinue through this bridge:Broker LTL Volume Growth Broker Truckload Volume Growth Carrier Linehaul Cost per Mile Customer Linehaul Rate per Mile Routing Guide Depth Truckload Adjusted Gross Profit

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