C.H. Robinson (CHRW) official guidance

Capital expenditures for 2026 are expected to be $65 million to $75 million.

Our capital expenditures were $18.2 million during the quarter, and we are lowering our 2026 capital expenditures expectations to be in the range of $65 million-$75 million, down from the previous range of $75 million-$85 million.

Capital expenditures for 2026 are expected to be $65 million to $75 million.

Our capital expenditures were $15 million for the quarter, and we still expect our 2026 capital expenditures to be $75 million-$85 million.

Capital expenditures for 2026 are expected to be $75 million to $85 million.

For 2026, we expect our full year capital expenditures to be $75 million-$85 million.

Capital expenditures for 2026 are expected to be $75 million to $85 million.

Within the revised SG&A expense range, we now expect depreciation and amortization to be towards the lower end of previously stated range of $95 million-$105 million for the year.

We still expect our 2026 SG&A expenses to be in the range of $540 million-$590 million, including depreciation and amortization of $95 million-$105 million for the year.

We expect 2026 SG&A expenses to be $540 million-$590 million, including depreciation and amortization of $95 million-$105 million for the year.

For 2026, we expect our full-year effective tax rate to be 18% to 20%.

Moving below operating income, our effective tax rate for the quarter was 21.5%, and we are maintaining our tax rate guidance of 18%-20% for the full year.

The second quarter effective tax rate was 21.5% compared to 21.4% in the second quarter of 2025. For 2026, we expect our full-year effective tax rate to be 18% to 20%.

For the year, we continue to expect the full year tax rate to be in the range of 18%-20%.

For 2026, we expect our full-year effective tax rate to be 18% to 20%.

For 2026, we expect the full year tax rate to be in the range of 18%-20%.

For 2026, we expect our full-year effective tax rate to be 18% to 20%.

Due to an expectation that our people will be rewarded for our strong 2026 performance, we believe that higher incentive compensation will push our 2026 personnel expenses towards the higher end of our range of $1.25 billion-$1.35 billion.

We continue to expect that our 2026 personnel expenses will be in the range of $1.25 billion-$1.35 billion.

Turning to our 2026 annual operating expense guidance, we expect 2026 personnel expenses to be in the guidance range of $1.25 billion-$1.35 billion.

Based on our first half execution and greater visibility into the remainder of the year, we are narrowing our SG&A range by $10 million and now expect our 2026 SG&A expenses to be in the range of $540 million-$580 million, compared to our prior range of $540 million-$590 million.

We still expect our 2026 SG&A expenses to be in the range of $540 million-$590 million, including depreciation and amortization of $95 million-$105 million for the year.

We expect 2026 SG&A expenses to be $540 million-$590 million, including depreciation and amortization of $95 million-$105 million for the year.

We're now expecting a 17% year-over-year increase in dry van spot rates for the full year, up from 8% only three months ago.

This includes an expectation that we will generate double-digit productivity improvements in both NAST and Global Forwarding in 2026 as we continue to implement agentic AI solutions across our quote-to-cash life cycle of an order.

This includes an expectation that we will generate double-digit productivity improvements in both NAST and Global Forwarding in 2026, as we continue to implement agentic AI across our quote-to-cash lifecycle of an order.

This translates to an expectation that we will again deliver double-digit productivity increases in both North American Surface Transportation (NAST) and global forwarding, and we expect these benefits to be over-indexed to the second half of 2026.

This includes an expectation that we will generate double-digit productivity improvements in both NAST and Global Forwarding in 2026 as we continue to implement agentic AI solutions across our quote-to-cash life cycle of an order.

This includes an expectation that we will generate double-digit productivity improvements in both NAST and Global Forwarding in 2026, as we continue to implement agentic AI across our quote-to-cash lifecycle of an order.

This translates to an expectation that we will again deliver double-digit productivity increases in both North American Surface Transportation (NAST) and global forwarding, and we expect these benefits to be over-indexed to the second half of 2026.

The bottom end of this range, which assumes zero market volume growth, equates to approximately $6 of earnings per share.

Capital expenditures for 2025 are expected to be $65 million to $75 million.

For 2025, we expect our full-year effective tax rate to be 18% to 20%.