Commercial rental vehicle and delivery company Ryder (NYSE:R) will be announcing earnings results tomorrow before market hours. Here’s what you need to know.
Ryder missed analysts’ revenue expectations by 2.2% last quarter, reporting revenues of $3.17 billion, up 8.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA estimates and EPS guidance for next quarter missing analysts’ expectations.
Is Ryder a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ryder’s revenue to grow 7.2% year on year to $3.24 billion, a reversal from the 2.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.37 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ryder has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Ryder’s peers in the ground transportation segment, some have already reported their Q4 results, giving us a hint as to what we can expect. XPO posted flat year-on-year revenue, meeting analysts’ expectations, and ArcBest reported a revenue decline of 8.1%, in line with consensus estimates. XPO traded up 8.6% following the results while ArcBest was down 3%.
Read our full analysis of XPO’s results here and ArcBest’s results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 2.3% on average over the last month. Ryder’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $171.22 (compared to the current share price of $157.51).
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