Ryder System Reports Q2 Profit From Cont. Operation

(RTTNews) - Ryder System, Inc. (R) Thursday reported second quarter profit, compared to loss last year, that reflected a non-cash FMS U.K. business exit charge.

Quarterly earnings were $126 million, while the company reported loss of $18 million a year ago. On adjusted basis earnings were $134 million. Earnings per share from continuing operations were $2.83, compared to loss per share of $0.39 last year. Non-GAAP earnings from continuing operation were $3.00.

Total revenue for the second quarter increased to $3.2 billion from $2.9 billion in the prior year.

Looking ahead to the full year 2024, the company expects adjusted ROE of 16-16.5 percent, and comparable non-GAAp earnings per share of $11.90 -$12.40.