Ryder reports Q2 2024 comparable EPS $3.00, beating forecast; raises dividend 14%

RYDER SYSTEM INC

2024-Q2 EPS reported $4.73 revenue$6,279,000,000

GAAP EPS $2.83 vs $(0.39) prior year; Comparable EPS $3.00 vs $3.61, above forecast.
Total revenue $3.2B (+10%); Operating revenue $2.6B (+10%), driven by acquisitions and organic growth.
FMS EBT $133M (-26% YoY) on weaker rental/used vehicle; SCS $85M (+13%); DTS $37M (+10%).
Full-year 2024 guidance: Comparable EPS $11.90-$12.40, adjusted ROE 16%-16.5%, FCF $150-$250M.
Quarterly dividend increased 14%; CEO notes outperformance vs prior cycles.

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