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Zacks' 7 Best Strong Buy Stocks (New Research Report)
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predicting the 7 stocks that will soar highest in the coming month.
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Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
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Ryder System (R) to Report Q1 Earnings: What's in Store?
Ryder System, Inc. (R - Free Report) is slated to release first-quarter 2023 earnings on Apr 26, before market open.
R has an impressive surprise history. Its earnings outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average being 21.8%.
Given this backdrop, let's delve deeper to unearth the factors that are likely to have influenced R’s first-quarter 2023 performance.
Ryder System, Inc. Price and EPS Surprise
Ryder System, Inc. price-eps-surprise | Ryder System, Inc. Quote
The Zacks Consensus Estimate for first-quarter revenues has improved 3.22% year over year. Strong rental demand and favorable pricing are likely to have aided the performance of the quarter under review.
The Zacks Consensus Estimate for Dedicated Transportation Solutions and Supply Chain Solutions segments’ revenues indicates increases of 7.5% and 17.2%, respectively, from the year-ago quarter’s reported figure.
The consensus estimate for Fleet Management Solutions’ revenues indicates a rise of 2.7% from the prior-year quarter’s reading. The uptick can be attributed to higher rental, ChoiceLease and SelectCare revenues.
Higher capital expenses might have hurt the bottom line. Our estimates for first-quarter 2023 earnings indicates a decline of 17.7% year over year.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for R this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Ryder has an Earnings ESP of 0.00% and carries a Zacks Rank #2.
Highlights of Q4
Ryder reported better-than-expected fourth-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate. Quarterly earnings of $3.89 per share surpassed the Zacks Consensus Estimate of $3.60. The bottom line increased 10.5% year over year on the back of higher revenues. Total revenues of $3,088 million also outperformed the Zacks Consensus Estimate of $2,971.7 million. The top line increased 18.7% year over year on strong segmental performances.
Other Stocks to Consider
Here we present a few other stocks from the broader Zacks Transportation sector that investors may also consider, as our model shows that these too have the right combination of elements to beat on their first-quarter 2023 earnings.
Canadian National Railway Company (CNI - Free Report) has an Earnings ESP of +0.26% and a carries Zacks Rank #3. It will release first-quarter 2023 results on Apr 24.
The company delivered a trailing four-quarter earnings surprise of 3.5%, on average. The Zacks Consensus Estimate for CNI’s first-quarter 2023 earnings has surged 18.3% year over year.
Copa Holdings (CPA - Free Report) has an Earnings ESP of +19.57% and sports a Zacks Rank #1. It will release first-quarter 2023 results on May 10. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CPA’s first-quarter 2023 earnings has improved more than 100% year over year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.