Commercial rental vehicle and delivery company Ryder (NYSE:R) will be announcing earnings results this Thursday before market open. Here’s what to look for.
Ryder met analysts’ revenue expectations last quarter, reporting revenues of $3.13 billion, up 1.1% year on year. It was a strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and full-year EPS guidance beating analysts’ expectations.
Is Ryder a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ryder’s revenue to be flat year on year at $3.16 billion, slowing from the 10.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.10 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Ryder’s peers in the transportation and logistics segment, only FedEx has reported results so far. It beat analysts’ revenue estimates by 1.9% and delivered flat year-on-year revenue. The stock was down 3.2% on the results.
Read our full analysis of FedEx’s earnings results here.There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 7.9% on average over the last month. Ryder is up 11.7% during the same time and is heading into earnings with an average analyst price target of $177.85 (compared to the current share price of $171.76).
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