Lou Whiteman

The question for investors is whether even if Google dominates the new world the way they dominated the old world, will it be as profitable this time around?

I don't think any of us know, but I think that is the question to ask.

Emily's cheating.

It's lunchtime and now I'm hungry, so I'm not focused, but I'll do what I can.

Dan, I'm looking at freight broker CH Robinson, ticker CHRW.

Now, brokers arrange transportations, kind of act as a middleman between shippers and the companies that want to move freight.

With tariffs and all this, it's been a tough year for freight, but Robinson in its most recent quarter, they grew operating income by 7%, even as revenue fell by 6.5%.

How?

Well, this is an AI success story.

Adjusted operating margin improved by 490 basis points year-over-year because Robinson is actually having success using AI to automate processes that have historically been done manually and taking out cost.

I don't think they're done.

We're talking about the potential of another 200 basis points gains in 2026.

Robinson is the biggest company in their field.

They're using their scale to their advantage.

They're gaining customers.

You couple all of the work they're doing in-house with the inevitability of one day the shipping market's going to improve.

And I think Robinson looks pretty intriguing right now.

I mean, Dan, I know what you like.

Yeah, there's nothing really to complain about in this quarter.

I think the business is getting healthier, and I think that's a good thing.