Ryder System Boosts FY22 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Wednesday, Ryder System, Inc. (R) raised its earnings, comparable earnings and revenue growth guidance for the full-year 2022. The company also provided financial outlook for the second quarter.

For fiscal 2022, the company now projects earnings in a range of $12.83 to $13.83 per share and comparable earnings in a range of $13.00 to $14.00 per share on revenue growth of about 17 percent and operating revenue growth of about 14 percent.

Previously, the company expected earnings in the range of $10.40 to $11.40 per share and comparable earnings in the range of $11.00 to $12.00 per share on revenue and operating revenue growth of about 10 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.60 per share on revenue growth of 12.6 percent to $10.88 billion for the year. Analysts' estimates usually exclude special items.

For the second quarter, the company expects earnings in a range of $3.97 to $4.22 per share and comparable earnings in a range of $3.50 to $3.75 per share. The Street is looking for earnings of $2.90 per share for the quarter.