Ryder Q1 EPS $1.89 GAAP, $2.14 comparable; raises full-year FY2024 EPS guidance

RYDER SYSTEM INC

2024-Q1 EPS reported $1.89 revenue$3,098,000,000

Total revenue $3.1B (+5% YoY); operating revenue $2.5B (+6% YoY).
FMS EBT $100M (-45% YoY) on weaker used vehicle pricing and rental demand; SCS EBT $64M (+267% YoY) helped by acquisitions and prior-year impairment.
FY2024 comparable EPS guidance raised to $11.75-$12.50 from prior range; GAAP EPS $10.95-$11.70.
Q2 2024 comparable EPS guide $2.75-$2.95; GAAP EPS $2.58-$2.78.
Free cash flow guidance improved to negative $(175-275)M; rental capex reduced by $100M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RYDER SYSTEM INC reported the three months ended March 31, 2024 results: revenue $3.1 billion, EPS $1.89. Guidance raised.

Period: the three months ended March 31, 2024
Revenue: $3.1 billion
EPS: $1.89
Guidance: raised
Result: reported results

Exact text from the filing

Ryder Reports First Quarter 2024 Results Delivers Solid Q1 Results; Raises Full-Year 2024 Forecast First Quarter 2024 Highlights • GAAP EPS from continuing operations of $1.89 compared to $2.95 in prior year • Comparable EPS (non-GAAP) from continuing operations of $2.14, as compared to $2.81 in prior year, reflecting weaker market conditions in used vehicle sales and rental, partially offset by higher Supply Chain Solutions (SCS) and ChoiceLease results • Total revenue of $3.1 billion compared to $3.0 billion in prior year • Operating revenue (non-GAAP) of $2.5 billion, up 6%, reflecting recent acquisitions and contractual revenue growth, partially offset by lower commercial rental revenue in Fleet Management Solutions (FMS) Full -Year 2024 Forecast • ROE of 15.5% - 16.5% • Comparable EPS (non-GAAP) of $11.75 - $12.50 • Operating revenue (non-GAAP) expected to increase by approximately 10% • Net cash provided by operating activities from continuing operations of $2.4 billion and free

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Source: SEC EDGAR

accession 0000085961-24-000075

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