https://assets.capyfin.com/undefined avatar
Ryder
🇺🇸 NYSE:R
View Company
OverviewEarningsDividends
•
Dec 31, 2022

Ryder Q4 2022 Earnings Report

Reported strong Q4 2022 results driven by execution of balanced growth strategy.

Key Takeaways

Ryder System, Inc. reported strong fourth-quarter results, with GAAP EPS of $4.06, up from $3.36 in the prior year, and comparable EPS (non-GAAP) of $3.89, up from $3.52 in the prior year. Total revenue reached $3.1 billion, a 19% increase, and operating revenue (non-GAAP) was $2.4 billion, a 14% increase. The company's performance reflects organic revenue growth in all business segments and strategic acquisitions.

GAAP EPS from continuing operations increased to $4.06 from $3.36 in the prior year.

Comparable EPS (non-GAAP) from continuing operations rose to $3.89 from $3.52 in the prior year.

Total revenue grew by 19% to $3.1 billion, and operating revenue (non-GAAP) increased by 14% to $2.4 billion.

Earnings in SCS and DTS increased 67% and 150%, respectively.

Total Revenue
$3.09B
Previous year: $2.6B
+18.8%
EPS
$3.89
Previous year: $3.52
+10.5%
Rental utilization
82.2%
Previous year: 85.2%
-3.5%
Gross Profit
$692M
Previous year: $499M
+38.8%
Cash and Equivalents
$267M
Previous year: $234M
+14.1%
Total Assets
$14.4B
Previous year: $13.8B
+4.0%

Ryder

Ryder

Ryder Revenue by Segment

Forward Guidance

Ryder anticipates strong but reduced earnings in 2023 due to a slowing macroeconomic and freight environment affecting used vehicle sales and rental. The company expects continued earnings momentum in supply chain and dedicated, with ROE anticipated to be at the long-term target of high teens. Ryder's balance sheet remains strong, enabling continued capital return to shareholders through a new 2-million-share discretionary repurchase program.

Positive Outlook

  • Expects continued earnings momentum in supply chain and dedicated.
  • Balance sheet remains strong.
  • New 2-million-share discretionary repurchase program authorized.
  • Operating revenue (non-GAAP) expected to increase by approximately 4%.
  • Net cash provided by operating activities from continuing operations forecast of $2.4 billion.

Challenges Ahead

  • Expects strong but reduced earnings in 2023.
  • Slowing macroeconomic and freight environment drive lower results in used vehicle sales and rental.
  • Free cash flow (non-GAAP) forecast of approximately $200 million.
  • Full Year 2023Total Revenue Growth~2%
  • Depreciation expenses.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Ryder