Ryder System Sees Q1, FY20 Earnings Below View - Quick Facts

(RTTNews) - While reporting its financial results for the fourth quarter on Thursday, Ryder System Inc. (R) forecast reported loss for the first quarter of 2020 in a range of $1.00 to $1.15 per share, and comparable loss in a range of $0.65 to $0.80 per share.

The company noted that the outlook for the first quarter reflects the impact of the previously announced vehicle residual value estimate change and are typically the lowest quarter seasonally in the year. Additionally, first-quarter earnings comparisons are challenging versus very strong results in the first quarter of 2019, the company said.

On average, analysts polled by Thomson Reuters expect the company to earn $0.09 per share for the quarter. Analysts' estimates usually exclude special items.

For fiscal 2020, the company projects reported earnings of $0.22 to $0.62 per share and comparable earnings of $1.10 to $1.50 per share. Total revenue for the year is forecast to increase 0.8 percent to approximately $9.0 billion.

The Street expects earnings of $2.62 per share for the year on revenues of $9.04 billion.