Commercial rental vehicle and delivery company Ryder (NYSE: R) will be announcing earnings results this Thursday before market open. Here’s what to expect.
Ryder beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $3.19 billion, flat year on year. It was a very strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EBITDA estimates.
Is Ryder a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Ryder’s revenue to be flat year on year at $3.19 billion, slowing from the 8.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.54 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ryder has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Ryder’s peers in the transportation and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FedEx delivered year-on-year revenue growth of 3.1%, beating analysts’ expectations by 2.7%, and CSX reported flat revenue, in line with consensus estimates. FedEx traded up 2.2% following the results while CSX was also up 1.8%.
Read our full analysis of FedEx’s results here and CSX’s results here.
Investors in the transportation and logistics segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Ryder’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $206.56 (compared to the current share price of $185.18).
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