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Ryder System (R) Q1 Earnings Miss, Revenues Beat Estimates
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Ryder System’s (R - Free Report) earnings missed estimates while revenues beat the same in the first quarter of 2017. The company’s adjusted earnings of 82 cents per share missed the Zacks Consensus Estimate of 84 cents. Earnings also declined 26.79% on a year-over-year basis.
Ryder System reported total revenues of $1,748.2 million which beat the Zacks Consensus Estimate of $1,688.1 million. Revenues also increased 7.27% on a year-over-year basis as a result of higher operating revenues and subcontracted transportation.
Segment Results
Fleet Management Solutions: Total revenue was $1.13 billion, up 3% year over year. Operating revenues (revenues excluding fuel) were flat year over year at $962 million.
Dedicated Transportation Solutions: Total revenue came in at $267 million, up 9% from the year-ago quarter. Operating revenues (excluding fuel and subcontracted transportation) grew 2% year over year to $193 million.
Supply Chain Solutions: Total revenue in the quarter under review was $463 million, up 19% year over year. Operating revenues (revenue excluding fuel and subcontracted transportation) increased 12% year over year to $362 million.
Liquidity
Ryder System, which carries a Zacks Rank #3 (Hold), exited the first quarter with cash and cash equivalents of $38.00 million, compared with $58.8 million at the end of 2016. The company had total debt of $5,326.2 million as compared with $5,391.3 million at the end of 2016. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Guidance
The company expects 2017 adjusted earnings in the band of $4.25 to $4.55 per share, lower than the previous range of $5.10 to $5.40. The Zacks Consensus Estimate for 2017 is $5.21 per share. The company expects second-quarter 2017 adjusted earnings per share in the band of 87 cents to 97 cents.
The Zacks Consensus Estimate for second-quarter 2017 earnings is pegged at $1.36 per share. The below par guidance as well as the earnings miss disappointed investors. Consequently, shares of the company were down in pre-market trading.
Ryder System, Inc. Price, Consensus and EPS Surprise
Investors in the broader transportation sector keenly await the first-quarter earnings reports of SkyWest, Inc. (SKYW - Free Report) , Spirit Airlines (SAVE - Free Report) and Alaska Air Group (ALK - Free Report) , slated for release on Apr 27, Apr 28 and Apr 26, respectively.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
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Ryder System (R) Q1 Earnings Miss, Revenues Beat Estimates
Ryder System’s (R - Free Report) earnings missed estimates while revenues beat the same in the first quarter of 2017. The company’s adjusted earnings of 82 cents per share missed the Zacks Consensus Estimate of 84 cents. Earnings also declined 26.79% on a year-over-year basis.
Ryder System reported total revenues of $1,748.2 million which beat the Zacks Consensus Estimate of $1,688.1 million. Revenues also increased 7.27% on a year-over-year basis as a result of higher operating revenues and subcontracted transportation.
Segment Results
Fleet Management Solutions: Total revenue was $1.13 billion, up 3% year over year. Operating revenues (revenues excluding fuel) were flat year over year at $962 million.
Dedicated Transportation Solutions: Total revenue came in at $267 million, up 9% from the year-ago quarter. Operating revenues (excluding fuel and subcontracted transportation) grew 2% year over year to $193 million.
Supply Chain Solutions: Total revenue in the quarter under review was $463 million, up 19% year over year. Operating revenues (revenue excluding fuel and subcontracted transportation) increased 12% year over year to $362 million.
Liquidity
Ryder System, which carries a Zacks Rank #3 (Hold), exited the first quarter with cash and cash equivalents of $38.00 million, compared with $58.8 million at the end of 2016. The company had total debt of $5,326.2 million as compared with $5,391.3 million at the end of 2016. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Guidance
The company expects 2017 adjusted earnings in the band of $4.25 to $4.55 per share, lower than the previous range of $5.10 to $5.40. The Zacks Consensus Estimate for 2017 is $5.21 per share. The company expects second-quarter 2017 adjusted earnings per share in the band of 87 cents to 97 cents.
The Zacks Consensus Estimate for second-quarter 2017 earnings is pegged at $1.36 per share. The below par guidance as well as the earnings miss disappointed investors. Consequently, shares of the company were down in pre-market trading.
Ryder System, Inc. Price, Consensus and EPS Surprise
Ryder System, Inc. Price, Consensus and EPS Surprise | Ryder System, Inc. Quote
Other Key Releases Coming Up
Investors in the broader transportation sector keenly await the first-quarter earnings reports of SkyWest, Inc. (SKYW - Free Report) , Spirit Airlines (SAVE - Free Report) and Alaska Air Group (ALK - Free Report) , slated for release on Apr 27, Apr 28 and Apr 26, respectively.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>