Ryder System Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Ryder System Inc. (R) announced a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $160 million, or $3.44 per share. This compares with $247 million, or $4.82 per share, in last year's third quarter.

Excluding items, Ryder System Inc. reported adjusted earnings of $165 million or $3.58 per share for the period.

Analysts on average had expected the company to earn $3.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.9% to $2.92 billion from $3.04 billion last year.

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

-Earnings (Q3): $160 Mln. vs. $247 Mln. last year. -EPS (Q3): $3.44 vs. $4.82 last year. -Analyst Estimates: $3.22 -Revenue (Q3): $2.92 Bln vs. $3.04 Bln last year.

-Guidance: Full year EPS guidance: $12.60 - $12.85