Ryder System Lowers FY19 Earnings Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the third quarter on Tuesday, Ryder System Inc. (R) lowered its earnings outlook for fiscal 2019.

Ryder established its outlook for fourth-quarter reported earnings in a range of loss of $0.36 to $0.26 per share. The company also established its outlook for comparable earnings from continuing operations in a range of loss of $0.03 per share to earnings of $0.07 per share.

The fourth quarter reported and comparable earnings forecasts include $0.95 impact from change in residual value estimates. The outlook for the quarter includes an expected negative impact of between $0.08 and $0.13 associated with the adoption of the new lease accounting standard compared to a benefit of $0.08 in the year-earlier period.

On average, analysts polled by Thomson Reuters expect the company to earn $1.60 per share for the quarter. Analysts' estimates usually exclude special items.

Ryder lowered its outlook for fiscal 2019 reported earnings to a range of $0.20 to $0.30 per share. In 2018, full-year earnings per share were $5.44.

The company also revised its forecast for fiscal 2019 comparable earnings per share from continuing operations to a range of $1.00 to $1.10. In 2018, full-year comparable earnings per share were $5.97.

The full-year reported and comparable earnings per share forecasts include $3.95 impact from change in residual value estimates.

The Street expects the company to report earnings of $5.61 per share for the year.