Brief: Ryder Reports Q1 EPS Of $2.95

Ryder System

26/04/2023 13:11

April 26 (Reuters) - Ryder System Inc  R.N :
    * RYDER REPORTS FIRST QUARTER 2023 RESULTS
    * Q1 GAAP EARNINGS PER SHARE $2.95
    * Q1 EARNINGS PER SHARE VIEW $2.96 -- REFINITIV IBES DATA
    * Q1 REVENUE $3.0 BILLION
    * Q1 REVENUE VIEW $2.99 BILLION -- REFINITIV IBES DATA
    * Q1 NON-GAAP EARNINGS PER SHARE $2.81
    * CONTINUE TO EXPECT STRONG BUT REDUCED EARNINGS IN 2023 AS
WEAK
FREIGHT CONDITIONS THROUGHOUT YEAR IMPACT USED VEHICLE SALES AND
RENTAL
    * FY 2023 INCREASED LOW END OF COMPARABLE EPS (NON-GAAP)
FORECAST
TO $11.30 - $12.05 FROM PRIOR FORECAST OF $11.05 - $12.05
    * 2023 OPERATING REVENUE (NON-GAAP) GROWTH FORECAST REMAINS
AT
APPROXIMATELY 4%
    * CONTRACTUAL LEASE, DEDICATED, AND SUPPLY CHAIN BUSINESSES
CONTINUE TO IMPROVE BASED ON OUR GROWTH AND RETURN INITIATIVES
    * FOR FULL-YEAR 2023, WE EXPECT BUSINESS TO ACHIEVE ROE IN
LINE
WITH OUR HIGH-TEENS TARGET
    * 2023 FREE CASH FLOW (NON-GAAP) FORECAST REMAINS AT
APPROXIMATELY
$200 MILLION
    * Q1 EARNINGS PER SHARE VIEW $2.96, REVENUE VIEW $2.99
BILLION --
REFINITIV IBES DATA
    * FY2023 REVENUE VIEW $12.30 BILLION -- REFINITIV IBES DATA
    * SEES FULL YEAR 2023 TOTAL REVENUE GROWTH OF ABOUT 1%
    * FOR FULL-YEAR 2023, WE EXPECT BUSINESS TO ACHIEVE ROE IN
LINE
WITH OUR HIGH-TEENS TARGET

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