Ryder System Raises FY18 Earnings Outlook - Quick Facts

(RTTNews) - Ryder System, Inc. (R) on Wednesday raised its comparable earnings guidance for fiscal 2018 to a range of $5.62 to $5.82 per share from the prior forecast range of $5.45 to $5.70 per share.

The company also now projects reported earnings for the year in a range of $4.71 to $4.91 per share, up from the prior outlook range of $4.55 to $4.80 per share.

Further, Ryder established a third-quarter earnings forecast in a range of $1.53 to $1.63 per share, and comparable earnings from continuing operations in the range of $1.55 to $1.65 per share.

On average, analysts polled by Thomson Reuters expect the company to earn $5.60 per share for the year and $1.67 per share for the third quarter. Analysts' estimates usually exclude special items.

The company also now expects record full-year organic lease growth of 8,500 units compared to an original forecast of 6,500.

Second-quarter earnings per share from continuing operations decreased to $0.82 from $0.97 in the prior year. Excluding certain items, comparable earnings per share from continuing operations were $1.42 per share. Revenue grew 17 percent to $2.09 billion, and operating revenue increased 11 percent to $1.64 billion from last year.

Analysts were looking for earnings of $1.30 per share on revenues of $1.98 billion for the second quarter.