Ryder System Q1 Profit Rises, Beats View

Ryder System

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(RTTNews) - Ryder System, Inc. (R), a transportation and logistics company, Wednesday reported net income from continuing operations of $98 million or $2.29 per share for the first quarter, higher than $85 million or $1.89 per share in the same quarter a year ago.

Excluding one-time items, comparable earnings were $106 million or $2.46 per share, that beat the average analysts' estimate of $2.39 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $3.131 billion from $3.098 billion in the previous year. The consensus estimate was for $3.14 billion.

For the second quarter, the company sees EPS in the range of $2.85 - $3.10 and comparable EPS of $3.00 - $3.25. Analysts expect earnings of $3.24 per share for the quarter.

For the full year, Ryder expects revenue to decline 1%. EPS is expected between $12.15 and $12.90 and comparable EPS in the range of $12.85 - $13.60. The Street expect earnings of $13.12 per share on revenue growth of 2.34% for the year.