Ryder System (NYSE: R) reported Q2 EPS of $3.61, $0.72 better than the analyst estimate of $2.89. Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $3.06 billion.

GUIDANCE:

Ryder System sees FY2023 EPS of $12.20-$12.70, versus the consensus of $11.59.

• Increased comparable EPS (non-GAAP) forecast to $12.20 - $12.70 from prior forecast of $11.30 - $12.05
• Adjusted ROE (ROE) forecast increased to 17% - 19% from 16% - 18%
• Operating revenue (non-GAAP) growth forecast of 2%, down from prior forecast of 4%, reflecting lower rental demand and volumes in the omnichannel retail vertical
• Net cash provided by operating activities from continuing operations forecast of $2.5 billion, up from $2.4 billion; free cash flow (non-GAAP) forecast of ~$100 million, down from ~$200 million, reflecting accelerated timing of OEM deliveries

For earnings history and earnings-related data on Ryder System (R) click here.