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Ryder System (R) Beats on Q3 Earnings

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Ryder System, Inc. (R - Free Report) is one of the leading providers of integrated logistics and transportation solutions. Product offerings range from full-service leasing, commercial rental and programmed maintenance of vehicles to integrated services such as dedicated contract carriage and carrier management.

Ryder’s efforts toward deploying a fuel-efficient fleet will help strengthen its foothold in the rapidly growing market of environment-friendly vehicles. Moreover, declining oil prices will help the company boost margins in the forthcoming quarter.

However, increased competition could create downward pressure on freight rates and continued rate pressure may adversely affect the company’s profitability. Further, Ryder is exposed to the residual risk on the value of its fleet of vehicles.

Currently, Ryder has a Zacks Rank #4 (Sell), but that could definitely change following Ryder’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: The company’s third quarter 2016 earnings (on an adjusted basis) of $1.67 per share beat the Zacks Consensus Estimate of $1.65 per share. Earnings however declined on a year over year basis.

RYDER SYS Price and EPS Surprise

 

RYDER SYS Price and EPS Surprise | RYDER SYS Quote

Revenue: Ryder reported revenues of $1,724.4 million, which beat the Zacks Consensus Estimate of $1,701.3 million.

Key Stats to Note: The company now expects 2016 adjusted earnings in the band of $5.70 to $5.85 per share (old guidance: $5.90 to $6.05 per share). The Zacks Consensus Estimate for 2016 is $5.95 per share. The company expects fourth quarter adjusted earnings per share in the band of $1.35 to $1.50. The Zacks Consensus Estimate for the fourth quarter of 2016 is $1.61 per share.

Stock Price:The lackluster guidance disappointed the investors. Shares of the company were down in pre-market trading at the time of writing.

 

Check back later for our full write up on this Ryder earnings report later!

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