Tags: US | Earns | Ryder | System

Ryder Profit Falls 22 Percent as Sales Slide 7 Percent

Wednesday, 03 Feb 2010 11:41 AM

Trucking and logistics management company Ryder System Inc. reported Wednesday that its fourth-quarter profit dropped more than 22 percent to $8.2 million as sales fell nearly 7 percent.

The earnings for the three-month period were 15 cents a share, compared to a profit of $10.6 million, or 19 cents a share, a year earlier.

Revenue fell to $1.25 billion from $1.34 billion a year earlier.

Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, expected earnings of 47 cents a share on revenue of $1.25 billion.

Full-year earnings were $61.9 million, or $1.11 a share, compared to profit of $199.9 million, or $3.50 a share, in 2008. Twelve-month revenue fell to $4.89 billion from $6 billion in 2008.

Looking ahead, Ryder expects 2010 earnings of $1.80 to $1.95 on revenue of $4.9 billion. Analysts forecast full-year 2010 adjusted earnings of $2.11 a share on revenue of $4.87 billion.

Ryder shares lost $3.14, or 8.4 percent, at $34.20 in morning trading.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Companies
Trucking and logistics management company Ryder System Inc. reported Wednesday that its fourth-quarter profit dropped more than 22 percent to $8.2 million as sales fell nearly 7 percent.The earnings for the three-month period were 15 cents a share, compared to a profit of...
US,Earns,Ryder,System
164
2010-41-03
Wednesday, 03 Feb 2010 11:41 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved