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Ryder (R) Q2 Earnings, Revenues Top Estimates, 2022 View Up
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Ryder System, Inc. (R - Free Report) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
Quarterly earnings of $4.43 per share surpassed the Zacks Consensus Estimate of $4.10. The bottom line increased 84.5% year over year on the back of higher revenues.
Total revenues of $3,033.7 million also outperformed the Zacks Consensus Estimate of $2,850 million. The top line increased 27.4% year over year on strong segmental performances.
Ryder System, Inc. Price, Consensus and EPS Surprise
Fleet Management Solutions: Total revenues of $1,621 million were up 15% year over year. Operating revenues summed $1,282 million, up 10% year over year. Segmental revenues benefited from higher rental revenue driven by strong demand and higher pricing. Revenues increased on higher fuel pricing as well.
Supply-Chain Solutions: Total revenues in the segment were $1,174 million, up 51% year over year. Operating revenues rose 49% year over year to $798 million on the back of contributions from acquisitions and double-digit revenue growth in all industry verticals from new business, higher volumes and increased pricing.
Dedicated Transportation Solutions: Total revenues amounted to $450 million, up 27% from the year-ago quarter’s figure. Operating revenues climbed 19% to $306 million. The revenue uptick was driven bynew business, pricing and volumes.
Liquidity
Ryder exited the second quarter with cash and cash equivalents of $447.7 million compared with $221.9 million at the end of March 2022. R’s total debt (including the current portion) rose to $6,593.2 million at the end of the first quarter from $6,780.8 million reported at the end of March 2022.
During the reported quarter, gross capital expenditures came in at $610.7 million. Free cash flow in the reported quarter was $443.6 million.Net cash provided by operating activities came in at $637.1 million.
Q3 EPS Outlook
For the third quarter of 2022, Ryder expects its adjusted earnings per share (EPS) in the range of $3.40 - $3.65. The Zacks Consensus Estimate of $3.57 lies within the guidance.
2022 Outlook
Ryder now expects total revenues and operating revenues to increase approximately 22% and 16%, respectively, in 2022 (previous view: both were expected to rise 17% and 14%, respectively).
Adjusted EPS for the whole year is now estimated in the range of $14.30 - $14.80(previous outlook: $13.00-$14.00). R expects free cash flow in the range of $750-$850 million (previous view: $550-$650 million) in 2022. Adjusted ROE (return on investment) is expected to be 25-26% (previous view: 23-25%).
Delta AirLines’ (DAL - Free Report) second-quarter 2022 earnings (excluding 29 cents from non-recurring items) of $1.44 per share fell short of the Zacks Consensus Estimate of $1.71. Escalated operating expenses induced the earnings miss. Multiple flight cancellations in May and June also hurt results. The earnings miss disappointed investors, resulting in the stock shedding value in early trading. In the year-ago quarter, Delta incurred a loss of $1.07 per share when air-travel demand was not as buoyant as in the current scenario.
DAL’s revenues came in at $13,824 million, which not only beat the Zacks Consensus Estimate of $13,608.9 million and soared 94% from the year-ago quarter’s figure as air-travel demand rebounded from the pandemic lows. The uptick in air-travel demand in the United States can be gauged from the fact that 75.9% of second-quarter 2022 passenger revenues came from the domestic markets.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
JBHT’squarterly earnings of $2.42 per share surpassed the Zacks Consensus Estimate of $1.61 and improved 50.3% year over year.
JBHT’stotal operating revenues of $3,837.53 million also outperformed the Zacks Consensus Estimate of $2,908.37 million. The top line jumped 32% year over year on the back of strength across all segments. JBHT’s total operating revenues, excluding fuel surcharges, rose 21.2% year over year.
CSX Corporation (CSX - Free Report) )reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
CSX’s quarterly earnings of 50 cents per share (excluding 4 cents from non-recurring items) beat the Zacks Consensus Estimate of 47 cents and improved 25% year over year.
CSX’s total revenues of $3,815 million outperformed the Zacks Consensus Estimate of $2,990 million. The top line increased 28% year over year on the back of higher revenues in almost all markets, driven by pricing gains, fuel surcharge, and contribution from the acquisition of Quality Carriers. CSX’s overall revenues per unit increased 27%.
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Ryder (R) Q2 Earnings, Revenues Top Estimates, 2022 View Up
Ryder System, Inc. (R - Free Report) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
Quarterly earnings of $4.43 per share surpassed the Zacks Consensus Estimate of $4.10. The bottom line increased 84.5% year over year on the back of higher revenues.
Total revenues of $3,033.7 million also outperformed the Zacks Consensus Estimate of $2,850 million. The top line increased 27.4% year over year on strong segmental performances.
Ryder System, Inc. Price, Consensus and EPS Surprise
Ryder System, Inc. price-consensus-eps-surprise-chart | Ryder System, Inc. Quote
Segmental Results
Fleet Management Solutions: Total revenues of $1,621 million were up 15% year over year. Operating revenues summed $1,282 million, up 10% year over year. Segmental revenues benefited from higher rental revenue driven by strong demand and higher pricing. Revenues increased on higher fuel pricing as well.
Supply-Chain Solutions: Total revenues in the segment were $1,174 million, up 51% year over year. Operating revenues rose 49% year over year to $798 million on the back of contributions from acquisitions and double-digit revenue growth in all industry verticals from new business, higher volumes and increased pricing.
Dedicated Transportation Solutions: Total revenues amounted to $450 million, up 27% from the year-ago quarter’s figure. Operating revenues climbed 19% to $306 million. The revenue uptick was driven bynew business, pricing and volumes.
Liquidity
Ryder exited the second quarter with cash and cash equivalents of $447.7 million compared with $221.9 million at the end of March 2022. R’s total debt (including the current portion) rose to $6,593.2 million at the end of the first quarter from $6,780.8 million reported at the end of March 2022.
During the reported quarter, gross capital expenditures came in at $610.7 million. Free cash flow in the reported quarter was $443.6 million.Net cash provided by operating activities came in at $637.1 million.
Q3 EPS Outlook
For the third quarter of 2022, Ryder expects its adjusted earnings per share (EPS) in the range of $3.40 - $3.65. The Zacks Consensus Estimate of $3.57 lies within the guidance.
2022 Outlook
Ryder now expects total revenues and operating revenues to increase approximately 22% and 16%, respectively, in 2022 (previous view: both were expected to rise 17% and 14%, respectively).
Adjusted EPS for the whole year is now estimated in the range of $14.30 - $14.80(previous outlook: $13.00-$14.00). R expects free cash flow in the range of $750-$850 million (previous view: $550-$650 million) in 2022. Adjusted ROE (return on investment) is expected to be 25-26% (previous view: 23-25%).
Currently, Ryder carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Transportation Companies
Delta AirLines’ (DAL - Free Report) second-quarter 2022 earnings (excluding 29 cents from non-recurring items) of $1.44 per share fell short of the Zacks Consensus Estimate of $1.71. Escalated operating expenses induced the earnings miss. Multiple flight cancellations in May and June also hurt results. The earnings miss disappointed investors, resulting in the stock shedding value in early trading. In the year-ago quarter, Delta incurred a loss of $1.07 per share when air-travel demand was not as buoyant as in the current scenario.
DAL’s revenues came in at $13,824 million, which not only beat the Zacks Consensus Estimate of $13,608.9 million and soared 94% from the year-ago quarter’s figure as air-travel demand rebounded from the pandemic lows. The uptick in air-travel demand in the United States can be gauged from the fact that 75.9% of second-quarter 2022 passenger revenues came from the domestic markets.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
JBHT’squarterly earnings of $2.42 per share surpassed the Zacks Consensus Estimate of $1.61 and improved 50.3% year over year.
JBHT’stotal operating revenues of $3,837.53 million also outperformed the Zacks Consensus Estimate of $2,908.37 million. The top line jumped 32% year over year on the back of strength across all segments. JBHT’s total operating revenues, excluding fuel surcharges, rose 21.2% year over year.
CSX Corporation (CSX - Free Report) )reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
CSX’s quarterly earnings of 50 cents per share (excluding 4 cents from non-recurring items) beat the Zacks Consensus Estimate of 47 cents and improved 25% year over year.
CSX’s total revenues of $3,815 million outperformed the Zacks Consensus Estimate of $2,990 million. The top line increased 28% year over year on the back of higher revenues in almost all markets, driven by pricing gains, fuel surcharge, and contribution from the acquisition of Quality Carriers. CSX’s overall revenues per unit increased 27%.