Ryder System, Inc. (R - Free Report) reported first-quarter 2018 earnings per share (excluding 28 cents from non-recurring items) of 91 cents per share, surpassing the Zacks Consensus Estimate of 88 cents. Earnings increased 11% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Ryder depicted a stable picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for first-quarter earnings being stagnant over the last 30 days
Prior to the earnings beat in the first-quarter, the company delivered positive surprises in three of the last four quarters.
Revenues Better Than Expected
Ryder recorded total revenues of $1,903.5 million, which surpassed the Zacks Consensus Estimate of $1,889 million. Moreover, revenues increased 8.9% year over year. All major segments of the company performed well in the quarter.
Key Stats to Note: The company now expects 2018 adjusted earnings in the band of $5.45 to $5.70 per share, higher than 2017 levels. Previous forecast was in the range of $5.40-$5.70 per share. The Zacks Consensus Estimate for 2018 earnings is $5.59 per share. The company expects second quarter 2018 adjusted earnings per share between $1.20 and $1.30. The Zacks Consensus Estimate for second-quarter 2018 earnings per share is $1.33.
Zacks Rank: Currently, Ryder has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Ryder earnings report later!
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