Commercial rental vehicle and delivery company Ryder (NYSE:R) will be reporting results tomorrow before the bell. Here’s what you need to know.
Ryder missed analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $3.18 billion, up 10.3% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ operating margin estimates.
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 12.7% year on year to $3.29 billion, a reversal from the 3.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.42 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 has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Ryder’s peers in the transportation and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Norfolk Southern Corporation delivered year-on-year revenue growth of 2.7%, missing analysts’ expectations by 1.2%, and CSX reported revenues up 1.3%, falling short of estimates by 1.5%. CSX traded down 6.7% following the results.
Read our full analysis of Norfolk Southern Corporation’s results here and CSX’s results here.
Investors in the transportation and logistics segment have had steady hands going into earnings, with share prices flat over the last month. Ryder is down 1.8% during the same time and is heading into earnings with an average analyst price target of $151.28 (compared to the current share price of $145.73).
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