Ryder System (R) Surpasses Q3 Earnings & Revenue Estimates
Zacks Investment Research | Oct 23, 2017 11:03PM ET
Ryder System’s (NYSE:R) third-quarter 2017 earnings (excluding 22 cents from non-recurring items) of $1.33 per share beat the Zacks Consensus Estimate of $1.29. However, the bottom line declined 20.4% on a year-over-year basis.
This year-over-year decline in earnings disappointed the investors. Consequently, shares of the company were down in early trading.
Ryder System reported total revenue of $1,848.5 million, which surpassed the Zacks Consensus Estimate of $1,806.4 million. Revenues increased 7.2% on a year-over-year basis with growth being witnessed in all segments.
Segment Results
Fleet Management Solutions: Total revenue was $1.20 billion, up 4% year over year. Operating revenues (revenues excluding fuel) came in at $1.03billion, up 3% year over year. Segmental results were aided by an increase in lease revenues on the back of a larger average fleet size.
Dedicated Transportation Solutions: Total revenue came in at $272million, up 4% from the year-ago quarter. Operating revenues (excluding fuel and subcontracted transportation) inched up 1% year over year to $198 million.
Supply Chain Solutions: Total revenue in the quarter under review was $496million, up 19% year over year. Operating revenues (revenues excluding fuel and subcontracted transportation) increased 9% year over year to $376 million.
Liquidity
Ryder System, which carries a Zacks Rank #2 (Buy), exited the third quarter with cash and cash equivalents of $65.3 million compared with $58.8 million at the end of 2016. The company had total debt of $5,349.2 million compared with $5,391.3 million at the end of 2016. You can see .
Ryder System, Inc. Price, Consensus and EPS Surprise
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