- Ryder System, Inc R reported revenue growth of 23% year over year to $3.04 billion in the third quarter of fiscal 22, beat the consensus of $3.00 billion.
- Adjusted earnings per share of $4.45 beat consensus of $3.65.
- Operating income increased 18% year over year to $2.35 billion.
- Revenue by segment: Fleet Management Solutions (FMS) $1.58 billion (+10% y/y), Supply Chain Solutions (SCS) $1.21 billion (+50% y/y), and Dedicated Transportation Solutions (DTS) $454 million (+19% y/y).
- Ryder System held $456.3 million in cash and equivalents.
- Regarding the company’s results and prospects, Robert Sanchez, Ryder Chairman and CEO said, “Record third quarter earnings reflect growth in all three business segments.
- Outlook: Ryder System expects fourth-quarter adjusted earnings per share to be in the range of $3.18 to $3.38 versus consensus of $3.20.
- The company expects ~23% revenue growth for FY22 (previous view ~22%).
- It projects FY22 adjusted earnings per share of $15.65-$15.85 (previous guidance $14.30-$14.80), ahead of consensus of $14.88 .
- Price promotion: R shares are trading up 6.07% at $79.16 on the latest check Wednesday.
- Photo via company
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