Ryder System Boosts Q2, FY22 Outlook

(RTTNews) - Ahead of its Investor Day meeting in New York City later on Friday, logistics and transportation company Ryder System, Inc. (R) raised its earnings and adjusted earnings guidance for the second quarter and the full-year 2022 to reflect better-than-expected performance across our business.

The company said its increased outlook particularly reflects earlier-than-expected realization of benefits from pricing initiatives in all business segments and strong rental and used vehicle sales performance in the second quarter.

For the second quarter, the company projects earnings in a range of $4.37 to $4.62 per share and comparable earnings in a range of $3.90 to $4.15 per share.

Previously, the company expected earnings in a range of $3.97 to $4.22 per share and comparable earnings in a range of $3.50 to $3.75 per share.

On average, eight analysts polled by Thomson Reuters expect the company to report earnings of $3.71 per share for the quarter. Analysts' estimates usually exclude special items.

For fiscal 2022, the company now projects earnings in a range of $13.23 to $14.23 per share and comparable earnings in a range of $13.40 to $14.40 per share.

Previously, the company expected earnings in a range of $12.83 to $13.83 per share and comparable earnings in a range of $13.00 to $14.0 per share.

The Street is looking for earnings of $13.86 per share for the year. At the meeting, the company will also provide an in-depth review of its business drivers and long-term growth strategies, including innovative products, industry-leading technology, and capital allocation.