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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.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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