As North America's largest freight broker, C.H. Robinson (CHRW, Financial) benefited from a rebound in truck freight pricing, which continued to recover from the dislocations felt earlier in the year. Truck demand has spiked as consumers increasingly spend on hard goods that require distribution rather than experiences and services, while both truck and driver supply has remained constrained.
From First Eagle Investment (Trades, Portfolio)'s Global Value Team's third-quarter 2020 commentary.
