Ryder System Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Ryder System Inc. (R) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $175.6 million, or $3.35 per share. This compares with $50.8 million, or $0.95 per share, in last year's first quarter.

Excluding items, Ryder System Inc. reported adjusted earnings of $188.3 million or $3.59 per share for the period.

Analysts on average had expected the company to earn $2.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.4% to $2.85 billion from $2.22 billion last year.

Ryder System Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $175.6 Mln. vs. $50.8 Mln. last year. -EPS (Q1): $3.35 vs. $0.95 last year. -Analyst Estimate: $2.36 -Revenue (Q1): $2.85 Bln vs. $2.22 Bln last year.

-Guidance: Full year EPS guidance: Adj: $13.00 - $14.00