Ryder System Q2 Profit, Revenue Up

Ryder System

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(RTTNews) - Ryder System, Inc. (R), a transportation, and logistics company Thursday reported earnings from continuing operations of $132 million or $3.15 per share for the second quarter, higher than $126 million or $2.83 per share in the same quarter a year ago. Earnings as well as revenue beat the consensus estimates.

Excluding one-time items, comparable earnings from continuing operations were $139 million or $3.32 per share, up from $134 million or $3 per share last year. On average, 8 analysts expected the company to report earnings of $3.1 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter grew to $3.189 billion from $3.182 billion in the previous year. The consensus estimate was for $3.17 billion.

For the third quarter, the company expects comparable EPS from continuing operations to be in the range of $3.45 - $3.65. The Street expects EPS of $3.61.

For the full year, comparable EPS from continuing operations is expected between $12.85 and $13.30. Ryder sees operating revenue to increase 1% year-on-year to $12.7 billion. Analysts expect the company to report earnings of $12.9 per share on revenue of $12.78 billion.