Commercial fleet manager and transportation provider Ryder System reported first quarter revenue of $2.2 billion for 2019.
In the first quarter, the company reported record total revenue and record operating revenue. Adobe xd cc 18 0 12 9 64. Revenue and earnings before tax grew in all three of its business segments reflecting new business and higher volumes. First quarter GAAP EPS was up 24% to $0.87 and comparable EPS was up 16% to $1.11, reflecting revenue growth and improved operating performance.
Commenting on the company’s first quarter results, Ryder Chairman and CEO Robert Sanchez said, “We are pleased to report double-digit operating revenue and earnings growth, driven by strong performance in our contractual businesses. This growth reflects continued outsourcing trends and the impact of our sales and marketing initiatives. We out-performed our forecast, primarily due to better than anticipated impact of the new lease accounting standard and to a lesser extent stronger performance in ChoiceLease and Dedicated.”
Ryder System provides commercial transportation, logistics, and supply chain management services in North America, Europe, and Asia. Lists ranking Ryder System. In depth view into Ryder System Revenue (Annual) including historical data from 1972, charts, stats and industry comps. View 4,000+ financial data types.
Q1 highlights included:
Ryder 2019 Revenue Tax
• Q1 GAAP EPS from continuing operations was up $0.17 or 24% to $0.87, primarily reflecting revenue growth and improved operating performance
• Q1 comparable EPS (non-GAAP) from continuing operations was up $0.15 or 16% to $1.11, primarily reflecting revenue growth and improved operating performance in all business segments
Second Quarter 2019 Q2 GAAP EPS from Continuing Operations Up $0.56 or 64% to $1.43 Reflecting Prior-Year Tax Adjustments and Current-Year Gain on Sale of Property Q2 Comparable EPS (non-GAAP) from Continuing Operations Down $0.06 or 4% to $1.40, Primarily Reflecting Lower Used Vehicle Sales Results, Partially Offset by Improved Operating Performance Record Q2 Total Revenue Grows 7% to. This statistic presents Ryder System's operating revenue from the fiscal year of 2014 to the fiscal year of 2019, with a breakdown by business segment. In the fiscal year of 2019, the logistics.
• Record Q1 total revenue grew 15%
• Record Q1 operating revenue (non-GAAP) was up 14% to $1.8 billion, with double-digit growth in all business segments
Ryder’s 2019 forecast raised the full-year 2019 GAAP EPS forecast range from prior forecast of $5.18 to $5.48 to $5.28 to $5.58 and the comparable EPS forecast range (non-GAAP) from prior forecast of $6.00 to $6.30 to $6.05 to $6.35.
Ryder 2019 Revenue Tax Forms
The company also adopted a new lease accounting standard effective January 1, 2019, which has no impact on cash flow or total earnings over the life of a lease contract. The new standard, however, changes the timing of lease revenue and related commission expense recognition to better align with maintenance costs. Adoption of the standard increased earnings per share by $0.11 in the first quarter of 2019 and $0.06 in the first quarter of 2018. Ryder expects adoption of the standard to reduce full year 2019 earnings per share by approximately $0.15 as the fleet is expected to get younger during the year.
Ryder 2019 Revenue Forms
Ryder has reported revenues of $2.2bn for Q2 2019, a 7% year-on-year increase. Total revenue and operating revenue grew across all three business segments reflecting new business and higher volumes. Operating revenue increased by 11%, totalling $1.8bn.
In the Fleet Management Solutions (FMS) business segment, total revenue was $1.39bn, up 7% compared with $1.30bn in Q2 2018. FMS operating revenue was $1.1bn, a year-on-year increase of 9%. Ryder ChoiceLease revenue increased 9% reflecting a larger average fleet size as well as higher prices on new vehicles. The lease fleet grew sequentially by 3,800 vehicles during the quarter. Commercial rental revenue increased 9% from the prior year due to higher demand and pricing. Operating revenue was $1.2bn, up 9% in comparison to Q2 2018.
In the Supply Chain Solutions (SCS) business segment, total revenue was up 7% to $649m and operating revenue was up 12% to $483m in comparison to Q2 2018. The increase in the segment was primarily due to new business wins, higher pricing, and increased volumes.
In the Dedicated Transportation Solutions (DTS) business segment, total revenue was up 10% to $362m and operating revenue was up 16% to $248m, compared with the year-earlier period. DTS total and operating revenue growth reflects new business and customer expansions.
Commenting on the company’s outlook, Mr. Sanchez said, “Our strategy to expand our medium-duty truck rental business to capture growing e-commerce demand is on track. However, given the slower demand from the for-hire sector, we now anticipate heavy-duty tractor rental activity to be somewhat below our prior forecast. We expect to largely mitigate this impact by executing our asset management playbook and taking other cost actions.”
Source: Ryder
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