Yahoo Finance C.H. Robinson (CHRW) Appoints New Chief Financial Officer
C.H. Robinson Worldwide, Inc. (CHRW) has chosen Damon Lee as its new chief financial officer (CFO), related to the previously announced CFO transition.
Lee will start working with C.H. Robinson on Jul 8, 2024, and will assume the role of CFO the day after the Form 10-Q is filed for the second quarter of 2024. Mike Zechmeister, C.H. Robinson’s existing CFO, will continue to serve his role till then and depart at that time, after which he plans to retire.
Dave Bozeman, C.H. Robinson’s president and chief executive officer, stated, "Damon’s extensive experience and expertise align perfectly with the high standards and forward-thinking mindset we prioritize at Robinson. He is a highly accomplished finance leader, and his ability to create and execute a comprehensive strategy is a core strength. Damon’s deep experience with Lean and continuous improvement will be a significant benefit in further reinforcing our new operating model and executing our enterprise strategy. He also has built and led high-performing teams, fostered collaboration, and developed personal connections that have enabled him to accelerate change."
At present, Lee is working as vice president and CFO of GE Commercial Engines and Services, the largest division of GE Aerospace. Prior to joining GE in 2021, Lee served in senior operational finance roles at Aptiv, Precision Castparts, and Eaton.
Considering Lee’s vast experience of more than 25 years across operational finance leadership roles, the latest decision is likely to boost CHRW’s prospects and strengthen its competitive position in the industry.
Zacks Rank and Stocks to Consider
Currently, C.H. Robinson carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks for investors’ consideration in the Zacks Transportation sector include GATX Corporation (GATX) and Trinity Industries, Inc. (TRN). Each stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
GATX has an encouraging earnings surprise history. The company has surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the other). The average beat is 7.49%.
The Zacks Consensus Estimate for 2024 earnings has been revised 3% upward over the past 90 days. GATX has an expected earnings growth rate of 6.79% for 2024. Shares of the company have risen 18.4% in the past year.
Trinity raised 2024 earnings per share guidance to the range of $1.35 to $1.55 (which excludes items outside of the company’s core business operations) from $1.30 to $1.50 guided previously.
Over the past 30 days, the Zacks Consensus Estimate for TRN’s 2024 earnings has been revised 2.7% upward. For 2024, TRN’s earnings are expected to grow 8.70% year over year.
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C.H. Robinson Worldwide, Inc. (CHRW) : Free Stock Analysis Report
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