Ryder Reports Q4 EPS of $.65 vs. $.63

Ryder System, Inc. R today reported earnings per diluted share from continuing operations for the three-month period ended December 31, 2010 were $0.80, compared with $0.43 in the year-earlier period. Earnings from continuing operations for the fourth quarter of 2010 were $41.5 million, compared with $23.7 million in the year-earlier period. Earnings per diluted share and earnings from continuing operations in the current period included a net benefit of $0.15 and $7.6 million, respectively, related to certain tax benefits, partially offset by restructuring and other items. Earnings per diluted share and earnings from continuing operations in the year-earlier period included a net benefit of $0.02 and $1.5 million, respectively, related to changes in Canadian income tax laws, partially offset by restructuring and other items. For the fourth quarter of 2010, excluding these items, comparable earnings per diluted share from continuing operations were $0.65, up 59% from $0.41 in the year-earlier period, and comparable earnings from continuing operations of $33.8 million increased 52% from $22.2 million in the year-earlier period.