Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Ryder System Q4 Profit Rises - Update

RELATED NEWS
Trade R now with 

Transportation and supply chain company Ryder System Inc. (R: Quote), Thursday reported an increase in fourth quarter profit, as revenues grew at fleet management and supply solutions businesses. Both earnings and revenues for the quarter came in ahead of analyst's expectations.

Miami, Florida-based Ryder's fourth-quarter profit improved to $53.8 million or $1.05 per share from $48.1 million or $0.93 per share last year.

Excluding special items, earnings from continuing operations improved to $1.17 per share from $0.97 per share last year. On average, 14 analysts polled by Thomson Reuters expected earnings of $1.10 per share for the quarter. Analysts' estimates typically exclude special items.

Ryder said revenues grew 3 percent to $1.58 billion from $1.54 billion last year. Analysts expected revenues of $1.57 billion for the quarter.

FMS business revenues rose 4 percent to $1.12 billion due mainly to higher operating revenues. Supply chain division revenues grew 2 percent to $575.3 million.

Looking forward to the first quarter, the company expects comparable earnings in the range of $0.75 to $0.80 per share. The Street currently anticipate earnings of $0.73 per share for the quarter.

For the full-year 2013, Ryder has forecast comparable earnings of $4.70 to $4.85 per share, with revenues anticipated at about $6.50 billion. Analysts currently expect earnings of $4.55 per share on revenues of $6.47 billion for the year.

Commenting on the outlook, the company said, "Although customers' confidence levels and their willingness to sign long-term contracts are still affected by soft and uncertain economic conditions, we are confident that we can profitably grow contractual revenue in both of our business segments in 2013."

R is currently trading at $56.33, up $2.07 or 3.81%, on a volume of 0.59 million shares on the NYSE.

Register
To receive FREE breaking news email alerts for Ryder System Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The Chinese economy logged its weakest expansion since early 2009 in the third quarter as slowdown in investment, particularly in the property sector, continued to drag the recovery. Gross domestic product grew 7.3 percent in the third quarter from a year ago, slower than the 7.5 percent expansion seen a quarter ago, the National Bureau of Statistics reported Tuesday. Apple Inc. said Monday that its fourth quarter profit rose 13% from last year, driven by strong sales of its iPhones and Mac computers. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly sales. At the same time, the company gave an upbeat revenue forecast for the current quarter, which includes the all important holiday season. Stocks moved notably higher over the course of the trading day on Monday, extending the strong upward move seen last Friday. The gains on the day continued the recent recovery by the markets, with the Nasdaq and the S&P 500 closing higher for the third consecutive session.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.