Ryder Clocks 23% Revenue Growth In Q3 Aided By All Its Segments

• Ryder System, Inc (NYSE: R) reported third-quarter FY22 revenue growth of 23% year-over-year to $3.04 billion, beating the consensus of $3.00 billion.

• Adjusted EPS of $4.45 beat the consensus of $3.65.

• Operating revenue increased by 18% Y/Y to $2.35 billion.

• Revenue by segments: 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 outlook, Ryder Chairman and CEO Robert Sanchez said, "Record third-quarter earnings reflects growth in all three business segments. Earnings exceeded our most recent forecast due primarily to better than expected results in used vehicle sales and rental."

• Outlook: Ryder System expects Q4 adjusted EPS of $3.18 - $3.38 versus the consensus of $3.20.

• The company expects FY22 revenue growth of ~23% (prior view ~22%).

• It sees FY22 adjusted EPS of $15.65 - $15.85 (prior view $14.30 - $14.80), above the consensus of $14.88.

• Price Action: R shares are trading higher by 6.07% at $79.16 on the last check Wednesday.

• Photo Via Company

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