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Ryder has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 16.71%.
Notably, the Zacks Consensus Estimate for R’s second-quarter 2024 earnings has been revised upward by 1.4% in the past 90 days to $2.81 per share. However, the consensus mark implies a 22.16% decline from the year-ago actuals.
Let’s see how things have shaped up for Ryder this earnings season.
Q2 Expectations
The Zacks Consensus Estimate for Ryder’s second-quarter 2024 revenues is pegged at $3.25 billion, indicating 12.69% growth year over year. The top line is likely to have been aided by revenue growth in all business segments.
The Zacks Consensus Estimate for Fleet Management Solutions revenues is pegged at $1.480 billion, indicating a 1.4% rise from the year-ago reported figure.
The Zacks Consensus Estimate for Dedicated Transportation Solutions revenues is pegged at $699 million, indicating a 58.8% surge from the year-ago reported figure.Contributions from the Cardinal Logistics acquisition might have aided the segment.
The Zacks Consensus Estimate for Supply-Chain Solutions revenues is pegged at $1.305 billion, indicating a 10.6% surge from the year-ago reported figure.Higher operating revenues and higher subcontracted transportation costs passed through to customers are likely to have aided the segment.
However, rising capital expenditures, primarily due to higher planned investments in the lease fleet might have hurt the bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Ryder 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. But that’s 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 -2.85% and a Zacks Rank #4 (Sell).
Ryder's first-quarter 2024 earnings per share of $2.14 surpassed the Zacks Consensus Estimate of $1.62. However, the bottom line plunged 23.8% year over year, reflecting weaker market conditions in used vehicle sales and rental, partially offset by higher Supply Chain Solutions and ChoiceLease results.
Total revenues of $3.098 billion outpaced the Zacks Consensus Estimate of $3.013 billion and improved 5% year over year. Operating revenues of $2.495 billion grew 6% year over year, reflecting recent acquisitions and contractual revenue growth, partially offset by lower commercial rental revenue in Fleet Management Solutions.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on second-quarter 2024 earnings.
CPA will release results on Aug 7. Upbeat air-travel demand is likely to have aided the second-quarter performance.
The Zacks Consensus Estimate for CPA’s second-quarter 2024 earnings has been revised downward by 16.3% in the past 60 days to $2.98 per share. CPA has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 20.19%.
Expeditors International of Washington (EXPD - Free Report) has an Earnings ESP of +3.03% and a Zacks Rank #2. EXPD is scheduled to report second-quarter 2024 earnings on Aug 6. Lackluster volumes (with respect to air-freight tonnage and ocean containers) due to weakening demand and falling rates are likely to have hurt EXPD’s performance in the to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings has been revised 1.68% upward in the last 60 days. EXPD surpassed the Zacks Consensus Estimate for earnings in only one of the preceding four quarters and missed thrice, the average miss being 3.44%.
Image: Bigstock
Ryder (R) Gears Up to Report Q2 Earnings: What's in Store?
Ryder System, Inc. (R - Free Report) is scheduled to report second-quarter 2024 results on Jul 25, before market open.
Ryder has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 16.71%.
Notably, the Zacks Consensus Estimate for R’s second-quarter 2024 earnings has been revised upward by 1.4% in the past 90 days to $2.81 per share. However, the consensus mark implies a 22.16% decline from the year-ago actuals.
Let’s see how things have shaped up for Ryder this earnings season.
Q2 Expectations
The Zacks Consensus Estimate for Ryder’s second-quarter 2024 revenues is pegged at $3.25 billion, indicating 12.69% growth year over year. The top line is likely to have been aided by revenue growth in all business segments.
The Zacks Consensus Estimate for Fleet Management Solutions revenues is pegged at $1.480 billion, indicating a 1.4% rise from the year-ago reported figure.
The Zacks Consensus Estimate for Dedicated Transportation Solutions revenues is pegged at $699 million, indicating a 58.8% surge from the year-ago reported figure.Contributions from the Cardinal Logistics acquisition might have aided the segment.
The Zacks Consensus Estimate for Supply-Chain Solutions revenues is pegged at $1.305 billion, indicating a 10.6% surge from the year-ago reported figure.Higher operating revenues and higher subcontracted transportation costs passed through to customers are likely to have aided the segment.
However, rising capital expenditures, primarily due to higher planned investments in the lease fleet might have hurt the bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Ryder 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. But that’s 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 -2.85% and a Zacks Rank #4 (Sell).
Ryder System, Inc. Price and EPS Surprise
Ryder System, Inc. price-eps-surprise | Ryder System, Inc. Quote
Highlights of Q1
Ryder's first-quarter 2024 earnings per share of $2.14 surpassed the Zacks Consensus Estimate of $1.62. However, the bottom line plunged 23.8% year over year, reflecting weaker market conditions in used vehicle sales and rental, partially offset by higher Supply Chain Solutions and ChoiceLease results.
Total revenues of $3.098 billion outpaced the Zacks Consensus Estimate of $3.013 billion and improved 5% year over year. Operating revenues of $2.495 billion grew 6% year over year, reflecting recent acquisitions and contractual revenue growth, partially offset by lower commercial rental revenue in Fleet Management Solutions.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on second-quarter 2024 earnings.
Copa Holdings(CPA - Free Report) has an Earnings ESP of +2.52% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
CPA will release results on Aug 7. Upbeat air-travel demand is likely to have aided the second-quarter performance.
The Zacks Consensus Estimate for CPA’s second-quarter 2024 earnings has been revised downward by 16.3% in the past 60 days to $2.98 per share. CPA has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 20.19%.
Expeditors International of Washington (EXPD - Free Report) has an Earnings ESP of +3.03% and a Zacks Rank #2. EXPD is scheduled to report second-quarter 2024 earnings on Aug 6. Lackluster volumes (with respect to air-freight tonnage and ocean containers) due to weakening demand and falling rates are likely to have hurt EXPD’s performance in the to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings has been revised 1.68% upward in the last 60 days. EXPD surpassed the Zacks Consensus Estimate for earnings in only one of the preceding four quarters and missed thrice, the average miss being 3.44%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.