Stock Story -
Commercial rental vehicle and delivery company Ryder (NYSE:R) will be reporting earnings tomorrow morning. Here's what to look for.
Ryder System (NYSE:R) beat analysts' revenue expectations by 1.2% last quarter, reporting revenues of $3.10 billion, up 4.9% year on year. It was a strong quarter for the company, with a decent beat of analysts' earnings estimates.
Is Ryder System a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Ryder System's revenue to grow 12.4% year on year to $3.24 billion, a reversal from the 4.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.87 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ryder System has missed Wall Street's revenue estimates three times over the last two years.
Looking at Ryder System's peers in the transportation and logistics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Heartland Express's revenues decreased 10.3% year on year, meeting analysts' expectations, and FedEx (NYSE:FDX) reported flat revenue, in line with consensus estimates. FedEx traded up 15.5% following the results.
Read the full analysis of Heartland Express's and FedEx's results on StockStory.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 8.3% on average over the last month. Ryder System is up 4.7% during the same time and is heading into earnings with an average analyst price target of $141.8 (compared to the current share price of $130.33).
