It has been about a month since the last earnings report for Ryder (R Quick QuoteR - Free Report) . Shares have lost about 10.1% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Ryder due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Ryder System, Inc. before we dive into how investors and analysts have reacted as of late.

Ryder Q4 Earnings Miss Estimates

Ryder reported disappointing fourth-quarter 2025 results wherein the company’s earnings and revenues missed the Zacks Consensus Estimate.

Quarterly earnings per share of $3.59 missed the Zacks Consensus Estimate of $3.66 but improved 4.1% year over year, reflecting share repurchases. The reported figure lies within the guided range of $3.50-$3.70.

Total revenues of $3.17 billion lagged the Zacks Consensus Estimate of $3.24 billion and fell 0.4% year over year. Operating revenues (adjusted) of $2.62 billion, up 1% year over year.

Segmental Results

Fleet Management Solutions: Total revenues of $1.46 billion inched down 1% year over year, reflecting lower operating and fuel revenue. Operating revenues totaled $1.29 billion, down 1% on a year-over-year basis, reflecting impact of weaker rental demand.

Supply-Chain Solutions: Total revenues of $1.38 billion inched up 3% year over year, reflecting increased operating revenues and subcontracted transportation costs passed through to customers. Operating revenues rose 3% year over year to $1.03 billion, owing tonew business and volumes in omnichannel retail.

Dedicated Transportation Solutions: Total revenues of $565 million and operating revenues of $452 million declined 8% and 4%, year over year, respectively, owing to decreased subcontracted transportation costs and lower fleet count reflecting prolonged freight market downturn.

Liquidity

Ryder exited the fourth quarter with cash and cash equivalents of $198 million compared with $189 million at the end of the prior quarter. R’s total debt (including the current portion) was $7.64 billion at the fourth-quarter end compared with $7.85 billion at the end of the prior quarter.

R’s Outlook

For 2026, Ryder now expects adjusted EPS in the range of $13.45-$14.45. Management anticipates total revenues to increase by 1%. Operating revenues (adjusted) are expected to increase 3%.

Adjusted ROE (return on equity) is expected to be 17-18%. Net cash from operating activities is still projected to be $2.7 billion. Adjusted free cash flow is expected to be in the range of $700 million-$800 million. Capital expenditure is still estimated to be $2.4 billion.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates revision.

The consensus estimate has shifted -16.61% due to these changes.

VGM Scores

Currently, Ryder has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock was allocated a score of A on the value side, putting it in the top quintile for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Ryder has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.