26.04.2023 14:24:53

Ryder System Increases Low End Of Full-year Comparable EPS Forecast

(RTTNews) - Ryder System, Inc. (R) said it delivered strong first-quarter results in a challenging freight environment. Based on modestly higher-than-expected used vehicle sales trends, the company increased the low end of full-year comparable EPS forecast.

First-quarter earnings from continuing operations declined to $140 million from $176 million, prior year. Earnings per share from continuing operations was $2.95 compared to $3.35.

First quarter comparable EPS from continuing operations was $2.81 compared to $3.59 in prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $2.96, for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $3.0 billion and operating revenue was $2.3 billion, up 3% and 6%, respectively, primarily reflecting SCS revenue growth. Analysts on average had estimated $2.99 billion in revenue.

For the second-quarter, the company estimates comparable EPS in a range of $2.80 - $3.05.

For fiscal 2023, the company expects comparable EPS in a range of $11.30 - $12.05.

"We continue to expect strong but reduced earnings in 2023 as weak freight conditions throughout the year impact used vehicle sales and rental," said Ryder CFO John Diez.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

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Ryder System Inc. 160,00 0,00% Ryder System Inc.