Ryder System, Inc. (NYSE:R) reported mixed third-quarter results on Thursday before the market opened.
The company reported third-quarter earnings of $3.57 per share, narrowly topping the consensus estimate of $3.55, marking a 3.8% increase from $3.44 per share in the same quarter last year. Revenue for the quarter came in at $3.171 billion, slightly below analysts' expectations of $3.197 billion, and consistent with the prior year.
For the fourth quarter, the company expects adjusted earnings of $3.50 to $3.70 per share, compared with the consensus estimate of $3.69.
For the full year 2025, Ryder narrowed its adjusted EPS guidance to $12.85 to $13.05, from $12.85 to $13.30, compared with the analyst estimate of $13.00. Ryder maintained its 2025 sales guidance at $10.37 billion, in line with its previous forecast and below the Street estimate of $12.76 billion.
Ryder Chairman and CEO Robert Sanchez, said, "Earnings were in line with our expectations as operating performance from our resilient contractual businesses and benefits from our strategic initiatives more than offset the impact from freight market conditions. We are on track to deliver earnings growth in 2025 driven by benefits from our lease pricing and multi-year maintenance cost-saving initiatives, acquisition synergies, and optimization of our omnichannel retail network."
Ryder shares rose 0.5% to trade at $160.99 on Friday.
This analyst made changes to price target on Ryder following earnings announcement.
- JP Morgan analyst Brian Ossenbeck maintained Ryder System with a Neutral and raised the price target from $194 to $197.
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