Ryder Q1 GAAP EPS $2.95, comp EPS $2.81; raises FY23 comp EPS low-end to $11.30

RYDER SYSTEM INC

2023-Q1 EPS reported $2.94 revenue$2,952,000,000

Q1 GAAP EPS from continuing ops $2.95 (down from $3.35 YoY); comparable EPS $2.81 (down from $3.59).
Total revenue $2.95B (+3%); operating revenue (non-GAAP) $2.35B (+6%).
FMS EBT down 27% to $182M; used truck/tractor pricing fell 16%/35% YoY; rental utilization 75% vs 82%.
SCS EBT down 60% to $17M due to $30M customer bankruptcy impairment; DTS EBT up 45% to $29M.
Raised low end of FY23 comparable EPS forecast to $11.30-$12.05; FY23 free cash flow ~$200M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

RYDER SYSTEM INC reported the three months ended March 31, 2023 results: revenue $2,952, EPS $2.95. Guidance raised.

Period: the three months ended March 31, 2023
Revenue: $2,952
EPS: $2.95
Guidance: raised
Result: reported results

Exact text from the filing

and operating revenue for the three months ended March 31 were as follows: (In millions) Total Revenue Operating Revenue (non-GAAP) 2023 2022 Change 2023 2022 Change Total $ 2,952 2,854 3% $ 2,346 2,216 6% Fleet Management Solutions (FMS) $ 1,503 1,529 (2)% $ 1,262 1,282 (2)% Supply Chain Solutions (SCS) $ 1,201 1,089 10% $ 879 738 19% Dedicated

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Source: SEC EDGAR

accession 0000085961-23-000100

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