Ryder System Revises FY17 Profit Outlook

(RTTNews) - Ryder System, Inc. (R) established a fourth quarter 2017 GAAP earnings per share forecast range of $1.16 to $1.26, and a comparable EPS forecast range of $1.31 to $1.41. Analysts polled by Thomson Reuters expect the company to report earnings of $1.33 per share for the fourth-quarter. Analysts' estimates typically exclude special items.

The company now expects full-year 2017 GAAP earnings per share to be in the range of $3.95 to $4.05, compared to the prior forecast of $4.03 to $4.23. Additionally, the Company's full-year 2017 comparable EPS forecast has been revised to a range of $4.46 to $4.56 from the prior range of $4.38 to $4.58. Analysts expect annual earnings of $4.45 per share.

Ryder Chairman and CEO Robert Sanchez said, "Our overall earnings outlook for the fourth quarter remains on track with our prior expectations. We anticipate a somewhat improved outlook for Fleet Management Solutions related to higher demand and utilization in commercial rental. Our outlook for ChoiceLease fleet growth remains at 3,500 vehicles for the full year."