Ryder System Inc. (R) reported that its fourth-quarter net earnings were $8.2 million, compared to $10.6 million in the year-earlier period. Net earnings per share were $0.15 versus $0.19 in the year-earlier period.
Earnings from continuing operations for the fourth quarter were $23.7 million, compared with $50.5 million in the year-earlier period. Earnings per share from continuing operations were $0.43, compared with $0.91 in the year-earlier period.
Excluding items, comparable EPS from continuing operations for the fourth quarter were $0.41, down 63% from $1.10 in the year-earlier period, and comparable earnings from continuing operations of $22.2 million for the fourth quarter were down 64% from $61.6 million in the year-earlier period.
Total revenue from continuing operations was $1.25 billion, down 7% from $1.34 billion in the same period in the prior year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share on revenues of $1.25 billion for the quarter. Analysts' estimates typically exclude special items.
The Company is establishing a comparable EPS forecast of $0.17 to $0.22 for the first quarter of 2010, compared with $0.30 in the same period of 2009. Analysts expect the company to report earnings of $0.35 per share for the first-quarter.
For fiscal 2010, the company expects comparable earnings per share to be in the range of $1.80 to $1.95 per share. Total revenue for the full year 2010 is forecast to be approximately $4.9 billion which is flat compared with 2009. Operating revenue for the full year 2010 is forecast to be $4.0 billion compared with $4.1 billion in 2009. Analysts expect the company to report earnings of $2.11 per share on revenues of $4.87 billion for fiscal 2010.
For comments and feedback: editorial@rttnews.com