Ryder Q4 Profit Tops Wall Street Estimates (R)
On Thursday transportation and supply chain company Ryder System, Inc. (R) reported a +12% rise in fourth quarter profit as revenue rose helped by its fleet-management segment.
The Miami, Florida-based company saw its fourth quarter net income grow to $53.8 million, or $1.05 per share, from $48.1 million, or 93 cents per share, a year earlier. Earnings from continuing operations rose from 92 cents per share to $1.07 per share.
In the fourth quarter Ryder had to take a charge of 10 cents per share for vehicle-related losses due to Superstorm Sandy; insurance recoveries remain uncertain.
Adjusted earnings were $1.17 per share, up from 97 cents per share in the year prior. Analysts were expecting an adjusted EPS of $1.10, according to Thomson Reuters.
Total revenue rose to $1.58 billion from $1.54 billion. Analysts predicted a revenue of $1.57 billion.
For the full year 2013, the company’s outlook sees adjusted EPS coming in between $4.70 to $4.85. Analysts see EPS reaching $4.55.
Ryder shares were up $2.44, or +4.49%, during morning trading on Thursday. The stock is up 82 cents per share over the trailing twelve months.
The Bottom Line
Shares of Ryder (R) have a dividend yield of 2.18% based on Thursday’s intraday price of $56.84.
Ryder System, Inc. (R) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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