Ryder Q2 2020 Earnings Report
Key Takeaways
Ryder reported a decrease in revenue and a net loss for Q2 2020, primarily due to the impact of COVID-19 on commercial rental and automotive activity in supply chain. The company took actions to reduce costs and manage its fleet size, and expects to generate significant free cash flow for the year.
Total revenue decreased by 16% year-over-year to $1.9 billion, with operating revenue down 10% to $1.6 billion.
GAAP EPS from continuing operations was a loss of $(1.41), compared to a profit of $1.43 in the prior year.
Comparable EPS (non-GAAP) from continuing operations was a loss of $(0.95), compared to a profit of $1.40 in the prior year.
The company anticipates operating cash flow of $1.8 billion to $2.0 billion and free cash flow of $1.0 billion to $1.2 billion in 2020.
Ryder
Ryder
Ryder Revenue by Segment
Forward Guidance
The company is not providing earnings guidance at this time due to the uncertainty relating to the ongoing impacts of COVID-19. The company expects to resume guidance when business conditions stabilize.
Revenue & Expenses
Visualization of income flow from segment revenue to net income