Transportation and supply chain management company Ryder System, Inc. (R) Tuesday posted higher profit for the first quarter, reflecting a rise in revenue from services, lease and rental. The company further reiterated its full-year forecast and provided outlook for the second quarter.
For the period, the firm posted net earnings of $39.9 million, up from prior-year's earnings of $34.3 million last year. On a per share basis, earnings totaled $0.77 versus $0.67 last year.
Earnings from continuing operations, excluding special items, was $0.81 per share for the three months. Thirteen analysts, on average, polled by Thomson Reuters estimated earnings per share of $0.78 for the quarter. Analysts estimates typically exclude one-time items.
Total revenue for the quarter climbed to $1.563 billion from $1.536 billion a year earlier. Analysts were looking for revenue of $1.57 billion.
Looking ahead, the firm expects second-quarter earnings of $1.20 to $1.24 per share, while analysts are currently looking for earnings of $1.22 per share.
The firm still expects full-year comparable earnings of $4.70 to $4.85 per share, while analysts expect full-year earnings of $4.81 per share.
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