C.H. Robinson Worldwide, Inc.

At this time, all participants are on a listen-only mode. Following the company's prepared remarks, we will open the line for a live question and answer session. To ask your question, please press star one on your telephone keypad. If anyone needs assistance during this time, please press star zero. As a reminder, this conference is being recorded on Wednesday, July 30th, 2025. I would now like to turn the conference over to Chuck Ives, Senior Director of Investor Relations.

Thank you, Paul, and good afternoon, everyone. On the call with me today is Dave Bozeman, our President and Chief Executive Officer, Michael Castagnetto, our President of North American Surface Transportation, Arun Rajan, our Chief Strategy and Innovation Officer, and Damon Lee, our Chief Financial Officer. I'd like to remind you that our remarks today may contain forward-looking statements. Slide two in today's presentation lists factors that could cause our actual results to differ from management's expectations. Our earnings presentation slides are supplemental to our earnings release and can be found in the investor section of our website at .chrobbinson.com. Today's remarks also contain certain non-GAP measures and reconciliations of those measures to GAP measures are included in the presentation. With that, I'll turn the call over to Dave. Thank you, Chuck.

Good afternoon, everyone, and thank you for joining us today. When the current transformation of CH Robinson began in early 2024, with the implementation of a new lean operating model, we recognized that some people had doubts and didn't understand how this would enable the company to change its trajectory. Now, with six consecutive quarters of consistent outperformance through the discipline execution of the strategy that we shared at our 2024 Investor Day, there is no doubt in our minds that we are on the right path to deliver sustainable outperformance in all market cycles. I'm proud of the Robinson team for embracing our new operating model and the discipline needed to improve our say-do ratio and to generate higher highs and higher lows across market cycles. Our people consistently demonstrate that they are the industry's best logisticians with the value that they bring to our customers and carriers, and they are excited about the transformation happening at Robinson and the momentum that we have. We are not waiting for a market recovery to improve our financial results, and the strategies that our Robinson team is executing are not only working, but they are built to be effective in any market environment. We're still in the early innings of our transformation journey. We have demonstrated our ability to responsibly grow market share and expand margins at the same time. This has enabled us to approach our mid-cycle operating margin targets despite operating in an elongated trough of the freight cycle. We are accelerating our progress by harnessing and scaling the evolving power of AI to drive automation across the full life cycle of a load. Our industry-leading innovations not only enhance the service and value we deliver to our customers, but also improve our operational performance by automating tasks that free up our talented people to focus on more strategic, high-value work. We are pioneering new ways to eliminate tasks, augment our capabilities, and supercharge our talented people with industry-leading technology that materially elevates the customer and carrier experience. And our lean operating model enables us to do this in a disciplined way that delivers the most value to all of our stakeholders. And you can expect the next chapters of this company's evolution to be just as exciting as the last 18 months. Shifting to our Q2 results, in NAS, we outgrew the market again in both truckload and LTL while expanding gross margins and improving productivity year over year and sequentially. In global forwarding, we continue to win new business and improve the yield of our portfolio by beginning to implement the revenue management disciplines that we've been utilizing in NAS for over a year. We also optimized our global forwarding expenses through further increases in productivity. Overall, we delivered a 21% year over year increase in our enterprise's Q2 income from operations, and we will continue to lean into the self-help initiatives that enabled our Q2 market share growth and margin expansion. From a macro standpoint, fluid trade policies continue to create uncertainty, making planning activities more difficult for our over 83,000 customers around the world. For some of them, tariffs cost them to reduce their import volumes. For instance, when US tariffs on Chinese goods increased to 145% in April, numerous retailers limited imports to only essentials needed for fall, like back to school products. Others accelerated shipments to beat tariff deadlines from Southeast Asia, and some stuck to their standard peak season schedules, taking a more wait and see approach. Although we're approaching the traditional retail peak season for Ocean, the industry may not see traditional peak volumes as some retail customers are working through inventories and being highly selective and strategic about bringing in only the essential products they must import. We saw this dynamic with back to school ordering, and that trend is continuing as uncertainty about trade deals continues to shape customer behavior. But these periods of volatility reinforce CH Robinson's value proposition. There is a flight to quality right now, and that is Robinson. Customers need a partner who not only understands how to navigate increasing complexity, but who can also partner with them to solve their unique supply chain challenges, especially amid persistent uncertainty and change. We've been doing this for over a century. And with our scale, breadth of services, differentiated experience, and financial stability, we are built to lead through disruption and to help our customers adapt just as quickly as we do to changing market dynamics. During the quarter, we continue to lead the industry in this era of digital enablement, including expanding our suite of cutting edge, self-serve digital solutions to enable faster and more effective navigation of our global trade complexities. Our new US tariff impact analysis tool empowers US importers to assess their overall duty exposure and drill down to the skew level for precise cost analysis. We also saw a surge in demand for our ACE import intelligence tool, a proprietary self-serve compliance platform that gives importers greater visibility and control over their customs data. Together, these two tools provide an unmatched view into both historical compliance and future facing tariff strategy, helping importers manage every stage of the import lifecycle with precision. Additionally, in Q2, we announced the expansion of our proven item level solutions to all global customers, offering unmatched visibility and control over every skew across their supply chains. These tools built on years of experience with complex global shippers, reduce blind spots, increase agility and deliver measurable savings. In today's volatile environment, scaling this capability reinforces our leadership in digital logistics and our ability to connect data-driven insights with real world execution. We'll continue to help our customers strategize on how to make their supply chains most efficient and cost effective. Our strategic initiatives remain on track. We've been preparing for a variety of market scenarios and we're intensifying our strategic focus on market outgrowth, gross margin expansion and operating leverage improvement. And while we are not immune to global market dynamics, we remain confident in our strategy and our people. The consistent, disciplined execution of our strategy, supported by the Robinson operating model, makes us stronger and we'll stay focused on providing differentiated service to our customers and carriers. I'll turn it over to Michael now to provide more details on our NAS results.