Ryder System Q2 Profit Beats View; Lifts Low End Of 2015 Outlook - Quick Facts

(RTTNews) - Ryder System, Inc. (R), a provider of transportation and supply chain management solutions, reported second-quarter net earnings of $85.4 million or $1.60 per share, up from $75.4 million or $1.41 per share in the year-ago period.

Comparable earnings from continuing operations for the quarter were $1.65 per share compared to $1.44 per share in the year-ago period.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $1.62 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues declined 1 percent to $1.66 billion from $1.68 billion in the year-ago period, while analysts expected revenue of $1.68 billion.

Looking ahead to the third quarter, Ryder expects comparable earnings of $1.82 to $1.87 per share. The Street expects the company to earn $1.91 per share for the quarter.

For fiscal 2015, Ryder now forecasts comparable earnings in a range of $6.45 to $6.55 per share, compared to the prior range of $6.40 to $6.55 per share. Analysts expect the company to report earnings of $6.50 per share for the year.

Ryder said it is reviewing the structure of its current and prior year sale-leaseback transactions in order to determine whether the transactions, as structured, qualify for off-balance sheet treatment.

If the company determines that the transactions do not qualify for off-balance sheet treatment, it would expect to report, on balance sheet, about $365 million of additional revenue earning equipment and debt, as of June 30, 2015 and about $220 million as of December 31, 2014.

If the current year's transactions do not qualify for off-balance sheet treatment, Ryder's forecast of 2015 full-year free cash flow would be negative $630 million, as compared with a prior forecast of negative $380 million.