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Ryder System

Ryder System Inc operates in three business segments: (1) Fleet Management Solutions which provides full-service leasing and leasing with flexible maintenance options, commercial rental and maintenance services of trucks, tractors and trailers to customers; (2) Supply Chain Solutions (SCS), which provides integrated logistics solutions, including distribution management, dedicated transportation, transportation management, brokerage, e-commerce, last mile, and professional services; and (3) Dedicated Transportation Solutions (DTS), which provides turnkey transportation solutions in the U.S., including dedicated vehicles, professional drivers, management, and administrative support.

Ryder System Inc

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JP Morgan analyst Brian Ossenbeck maintains Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) with a Neutral and lowers the price target from $148 to $144.

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JP Morgan Maintains Neutral on Ryder System, Lowers Price Target to $144

WIIM

Ryder System shares are trading lower after the company reported worse-than-expected Q3 revenue results and cut its FY24 adjusted EPS guidance below estimates.

Ryder System Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) shares are trading lower on Thursday after it <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41512368/ryder-reports-third-quarter-2024-results" rel="noreferrer noopener">reported third-quarter results</a>.
Sales grew&nbsp;8%&nbsp;year-on-year to&nbsp;$3.17 billion,&nbsp;missing the analyst consensus estimate of&nbsp;$3.29 billion.
Revenue from Fleet Management Solutions fell&nbsp;1%&nbsp;to&nbsp;$1.47 billion, Supply Chain Solutions climbed&nbsp;10%&nbsp;to&nbsp;$1.317 billion&nbsp;and Dedicated Transportation Solutions jumped&nbsp;41%&nbsp;to&nbsp;$633 million.
Earnings before tax declined to $188 million from $213 million a year ago quarter. Adjusted EPS of&nbsp;$3.44 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the analyst consensus of&nbsp;$3.42.</a>
Operating cash flow for nine months totaled&nbsp;$1.7 billion, with a free cash flow of&nbsp;$218 million. Ryder System held&nbsp;$162 million&nbsp;in cash and equivalents as of September-end.
The company&#8217;s board recently authorized a new discretionary 2 million share repurchase program that <a target="_blank" href="https://www.benzinga.com//node/41327050" rel="noreferrer noopener">replaces the recently completed program.</a>
Ryder Chairman &amp; CEO Robert Sanchez said, &#8220;We saw double-digit earnings growth in our contractual businesses. Higher ChoiceLease results from our pricing and maintenance initiatives benefited FMS. Stronger operating performance and cost-management actions benefited SCS. DTS delivered strong earnings growth, demonstrating the resiliency of our legacy business. Each of the segments also benefited from recent acquisitions.&#8221;
&#8220;The long-term secular growth trends remain intact for all of our contractual businesses, although we are experiencing near-term sales headwinds that reflect the extended freight downturn and overall economic uncertainty.&#8221;
Outlook: Ryder lowered its FY24 operating revenue growth to ~7%&nbsp;(vs. ~8% prior) and tightened the adjusted EPS forecast to $11.90&nbsp;&#8211;&nbsp;$12.10 (vs. consensus of $12.13) <a target="_blank" href="https://www.benzinga.com//node/39966615" rel="noreferrer noopener">from&nbsp;$11.90&nbsp;&#8211;&nbsp;$12.40 earlier</a>.
For&nbsp;the fourth quarter, Ryder sees adjusted EPS of&nbsp;$3.32&nbsp;&#8211;&nbsp;$3.52&nbsp;against <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">the consensus of&nbsp;$3.57</a>.
Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and SPDR S&amp;P Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTN#NYSE">XTN</a>).
Price Action: R shares are down 4.36% at $138.71 at the last check Thursday.
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Ryder System Reports Mixed Q3: Contractual Growth Meets Freight Market Challenges

Ryder Expects Q4 Adj EPS Of $3.32 - $3.52, Est $3.57

Ryder Now Sees FY24 Total Revenue Growth ~7% (Prior ~8%), Revises Adj EPS Outlook From $11.90 - $12.40 To $11.90 - $12.10 (Est $12.13)

Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) reported quarterly earnings of $3.44 per share which beat the analyst consensus estimate of $3.42 by 0.58 percent. This is a 3.91 percent decrease over earnings of $3.58 per share from the same period last year. The company reported quarterly sales of $3.17 billion which missed the analyst consensus estimate of $3.29 billion by 3.85 percent. This is a 8.34 percent increase over sales of $2.92 billion the same period last year.

Earnings Beats

Earnings Misses

Ryder System Q3 2024 Adj EPS $3.44 Beats $3.42 Estimate, Sales $3.17B Miss $3.29B Estimate

Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) is preparing to release its quarterly earnings on Thursday, 2024-10-24. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Ryder System to report an earnings per share (EPS) of $3.42.
Ryder System bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
During the last quarter, the company reported an EPS beat by $0.13, leading to a 0.13% increase in the share price on the subsequent day.
Here's a look at Ryder System's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.87</td>
<td>1.71</td>
<td>2.73</td>
<td>3.22</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>3</td>
<td>2.14</td>
<td>2.95</td>
<td>3.58</td>
</tr>
<tr>
<td>Price Change %</td>
<td>0.0%</td>
<td>0.0%</td>
<td>-2.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729699336_0.png" alt="eps graph" />
<h3>Market Performance of Ryder System's Stock</h3>
Shares of Ryder System were trading at $145.73 as of October 22. Over the last 52-week period, shares are up 55.78%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analyst Views on Ryder System</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Ryder System.
A total of 1 analyst ratings have been received for Ryder System, with the consensus rating being Outperform. The average one-year price target stands at $155.0, suggesting a potential 6.36% upside.
<h3>Comparing Ratings with Competitors</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Landstar System, Schneider National and RXO, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Landstar System received a Neutral consensus from analysts, with an average 1-year price target of $172.43, implying a potential 18.32% upside.</li>
<li>Schneider National is maintaining an Neutral status according to analysts, with an average 1-year price target of $27.78, indicating a potential 80.94% downside.</li>
<li>RXO is maintaining an Neutral status according to analysts, with an average 1-year price target of $27.3, indicating a potential 81.27% downside.</li>
</ul>
<h3>Analysis Summary for Peers</h3>
The peer analysis summary provides a snapshot of key metrics for Landstar System, Schneider National and RXO, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ryder System</td>
<td>Outperform</td>
<td>8.91%</td>
<td>$648M</td>
<td>4.13%</td>
</tr>
<tr>
<td>Landstar System</td>
<td>Neutral</td>
<td>-10.83%</td>
<td>$160.64M</td>
<td>5.21%</td>
</tr>
<tr>
<td>Schneider National</td>
<td>Neutral</td>
<td>-2.21%</td>
<td>$110.70M</td>
<td>1.20%</td>
</tr>
<tr>
<td>RXO</td>
<td>Neutral</td>
<td>-3.43%</td>
<td>$163M</td>
<td>-1.21%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Ryder System ranks highest in revenue growth among its peers. It also leads in gross profit margin. However, it has the lowest return on equity compared to its peers.
<h3>Unveiling the Story Behind Ryder System</h3>
Ryder System Inc operates in three business segments: (1) Fleet Management Solutions which provides full-service leasing and leasing with flexible maintenance options, commercial rental and maintenance services of trucks, tractors and trailers to customers; (2) Supply Chain Solutions (SCS), which provides integrated logistics solutions, including distribution management, dedicated transportation, transportation management, brokerage, e-commerce, last mile, and professional services; and (3) Dedicated Transportation Solutions (DTS), which provides turnkey transportation solutions in the U.S., including dedicated vehicles, professional drivers, management, and administrative support.
<h3>Ryder System: A Financial Overview</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Ryder System's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 8.91%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: Ryder System's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 3.97%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Ryder System's ROE stands out, surpassing industry averages. With an impressive ROE of 4.13%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Ryder System's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.77%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Ryder System's debt-to-equity ratio is notably higher than the industry average. With a ratio of 2.83, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<a href="https://www.benzinga.com/quote/R/earnings">To track all earnings releases for Ryder System visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Ryder System's Earnings Outlook

Ryder Plans New Discretionary Share Repurchase Program For Up To 2M Shares Of Common Stock From October 9, 2024 Through October 9, 2026

Shares of Pittsburgh, PA-based company Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wab#NYSE">WAB</a>), have been benefiting from its consistent shareholder-friendly initiatives, as well as strength across its Freight and Transit segments. Bullish full-year 2024 earnings guidance looks encouraging and raises optimism about the stock.
The positive sentiment surrounding WAB stock is evident from the fact that the Zacks Consensus Estimate for the third quarter and full-year 2024 earnings has been revised upward in the past 60 days. The Zacks Consensus Estimate for third-quarter and full-year 2024 earnings per share&nbsp;indicates growth of 9.4% and 26% from the respective 2023 figures.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f1/78187.jpg?v=353666507" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
The company&#39;s long-term (three-to-five years) earnings growth rate is 16.1%, higher than its industry&#39;s 13.4%.
Let&#39;s delve deeper.
<h2>Solid Financial Returns for Shareholders</h2>
Highlighting its pro-investor stance, Wabtec (on Feb. 14, 2024) announced a 17.6% dividend increase, thereby raising its quarterly cash dividend from 17 cents per share to 20 cents. This quarterly dividend of 20 cents (80 cents annualized) per share gives Wabtec a 0.47% yield at the current stock price. This company&#39;s payout ratio is 11%, with a five-year dividend growth rate of 12.34%.
<div class="chart_embed">
<h3>Westinghouse Air Brake Technologies Corporation Dividend Yield</h3>
<img alt="screenshot_2024-09-18_145724.jpg" src="https://www.benzinga.com/files/u1593113/screenshot_2024-09-18_145724.jpg" style="height:306px; width:620px" />
Westinghouse Air Brake Technologies Corporation dividend-yield-ttm | Westinghouse Air Brake Technologies Corporation Quote
Wabtec&#39;s bottom line has been benefiting from its consistent efforts to reward its shareholders through dividends and share buybacks. In 2022, WAB paid dividends of $111 million and repurchased shares worth $473 million. In 2023, WAB paid dividends of $123 million and repurchased shares worth $409 million. During the first six months of 2024, WAB paid dividends of $71 million and repurchased shares worth $375 million. Such shareholder-friendly moves instill investors&#39; confidence and positively impact the company&#39;s bottom line.
</div>
Dividend-paying stocks provide a solid income stream and have fewer chances of experiencing wild price swings. Dividend stocks, like WAB, are safe bets for creating wealth, as the payouts generally act as a hedge against economic uncertainty like the current scenario.
<h2>Segmental Strength Boosts WAB&#39;s Top Line</h2>
Wabtec&#39;s top line has been benefiting from higher sales across its Freight and Transit segments. While the Freight segment benefits from growth in services and components, the transit segment gains from strong aftermarket and original equipment manufacturing sales.
WAB is expected to continue its strong performance due to strong underlying demand and a robust backlog.The ongoing summer season is expected to provide a further boost to revenues. The Zacks Consensus Estimate for WAB&#39;s third-quarter and fourth-quarter 2024 revenues is pegged at $2.64 billion and $2.61 billion, which indicates an improvement of 3.6% and 3.2% from 2023&#39;s actuals, respectively.
Driven by this encouraging backdrop, management raised its current-year EPS guidance. Wabtec raised 2024 EPS guidance to the range of $7.20-$7.50 from $7.00-$7.40 guided previously. The Zacks Consensus Estimate of $7.46 lies within the updated guided range.
Wabtec&#39;s full-year revenue guidance remains unchanged in the $10.25 billion-$10.55 billion band. The Zacks Consensus Estimate of $10.39 billion lies within the guided range.
<h2>WAB&#39;s Price Performance Soars High</h2>
Wabtec has an impressive earnings surprise history. The company&#39;s earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 11.83%. Driven by this upbeat earnings performance and the positives mentioned above, WAB shares have gained 37.2% so far this year, outperforming its industry as well as the S&amp;P 500, of which the company is a key member.
Additionally, WAB&#39;s price performance so far this year compares favorably with that of other industry players like Ryder Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/r#NYSE">R</a>) and Air Lease Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/al#NYSE">AL</a>).
<h2>YTD Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/74/78188.jpg?v=895383158" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Some Other Tailwinds Working in Favor of WAB Stock</h2>
We are impressed with WAB&#39;s healthy balance sheet. The company&#39;s cash and equivalents increased to $595 million at the end of second-quarter 2024 from $371 million at the end of second-quarter 2023. Meanwhile, the long-term debt level has decreased to $3.5 billion at the end of second-quarter 2024 from $3.4 billion in the second quarter of 2023.
<h2>Long-Term Debt to Capitalization</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/07/78186.jpg?v=673179907" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Wrapping Up</h2>
Given the positives surrounding the WAB stock, as highlighted throughout the write-up, we believe that investors should add WAB stock to their portfolio for healthy returns. The Zacks Rank #2 (Buy) carried by the stock supports our thesis.
<a href="https://www.zacks.com/stock/news/2337744/wabtec-s-eps-estimates-northbound-time-to-buy-wab-stock?cid=CS-BENZ-FT-analyst_blog|rank_focused-2337744">To read this article on Zacks.com click here.</a>

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Wabtec's EPS Estimates Northbound: Time to Buy WAB Stock?

Ryder System's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) short percent of float has fallen 22.73% since its last report. The company recently reported that it has 447 thousand shares sold short, which is 1.36% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.47 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Ryder System Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725454818_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Ryder System has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Ryder System's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Ryder System's peer group average for short interest as a percentage of float is 4.75%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Ryder System's Recent Short Interest

Ryder System And Terminal Industries Announce The First Successful Pilot Program Leveraging Terminal's Computer-vision Technology To Automatically Index And Analyze Trucks And Trailers Flowing In And Out Of The Warehouse Yard

Ryder System's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) short percent of float has risen 15.03% since its last report. The company recently reported that it has 587 thousand shares sold short, which is 1.76% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.17 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Ryder System Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723231821_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Ryder System has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Ryder System's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Ryder System's peer group average for short interest as a percentage of float is 5.24%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Ryder System?

Baird analyst Garrett Holland maintains Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) with a Outperform and raises the price target from $140 to $155.

Baird Maintains Outperform on Ryder System, Raises Price Target to $155

Ryder (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/r#NYSE">R</a>) reported $3.18 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 10.3%. EPS of $3.00 for the same period compares to $3.61 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.25 billion, representing a surprise of -2.09%. The company delivered an EPS surprise of +4.17%, with the consensus EPS estimate being $2.88.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company&#39;s underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock&#39;s price performance more accurately.
Here is how Ryder performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
<ul>
<li>Operating Revenue- Fleet Management Solutions: $1.28 billion versus $1.29 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1.8% change.</li>
<li>Operating Revenue- Dedicated Transportation Solutions: $485 million compared to the $528.41 million average estimate based on two analysts. The reported number represents a change of +48.3% year over year.</li>
<li>Operating Revenue- Supply Chain Solutions: $989 million versus $951.35 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +14.3% change.</li>
<li>Revenues- Supply Chain Solutions - Subcontracted transportation and fuel: -$352 million versus $353.94 million estimated by two analysts on average.</li>
<li>Revenues- Fleet Management Solutions: $1.48 billion versus $1.48 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1.3% change.</li>
<li>Revenues- Fleet Management Solutions- SelectCare and other: $176 million versus the two-analyst average estimate of $171.64 million. The reported number represents a year-over-year change of +2.3%.</li>
<li>Revenues- Dedicated Transportation Solutions: $635 million compared to the $698.73 million average estimate based on two analysts. The reported number represents a change of +44.3% year over year.</li>
<li>Revenues- Eliminations: -$272 million versus -$234.47 million estimated by two analysts on average.</li>
<li>Revenues- Fleet Management Solutions- Commercial rental: $244 million compared to the $254.69 million average estimate based on two analysts. The reported number represents a change of -18.9% year over year.</li>
<li>Revenues- Fleet Management Solutions- ChoiceLease: $856 million versus the two-analyst average estimate of $861.14 million. The reported number represents a year-over-year change of +9.6%.</li>
<li>Revenues- Fleet Management Solutions- Fuel services: $202 million versus the two-analyst average estimate of $192.92 million. The reported number represents a year-over-year change of -1.5%.</li>
<li>Revenues- Supply Chain Solutions: $1.34 billion versus $1.31 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +13.7% change.</li>
<li>Shares of Ryder have returned +5.8% over the past month versus the Zacks S&amp;P 500 composite&#39;s -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.</li>
<li><a href="https://www.zacks.com/stock/news/2309202/compared-to-estimates-ryder-r-q2-earnings-a-look-at-key-metrics?cid=CS-BENZ-FT-fundamental_analysis|nfm-2309202">To read this article on Zacks.com click here.</a></li>
</ul>

Small Cap

Compared to Estimates, Ryder Q2 Earnings: A Look at Key Metrics

Ryder System Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) reported second-quarter FY24 sales growth of 10% year-on-year to $3.18 billion, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39953576/ryder-reports-second-quarter-2024-results" rel="noreferrer noopener">missing the analyst consensus estimate of $3.24 billion.</a>
Revenue from Fleet management solutions increased by 1% to $1.478 billion, Supply Chain Solutions climbed 14% to $1.341 billion and Dedicated Transportation Solutions jumped 44% to $635 million.
Selling, general and administrative expenses increased by 7.3% to $368 million. Adjusted EPS of $3.00 <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">beat the analyst consensus of $2.87.</a>
Ryder System held $164 million in cash and equivalents as of June-end. Operating cash flow for six months totaled $1.1 billion, with a free cash flow of $71 million.
Ryder Chairman &amp; CEO Robert Sanchez said, &#8220;Comparable EPS were above our forecast primarily reflecting better-than-expected ChoiceLease results. ROE of 16% demonstrated the increased resilience of our transformed business model and is in line with our expectations for the latter stage of a freight-cycle downturn.&#8221;
Outlook: Ryder lowered its FY24 operating revenue growth to about 8% from the previously expected ~10% growth.
Ryder tightened its FY24 adjusted EPS forecast from $11.75 &#8211; $12.50 to <a href="https://www.benzinga.com/calendars/guidance">$11.90 &#8211; 12.40 versus an estimate of $12.04.</a>
For third-quarter, Ryder sees adjusted EPS of $3.30 &#8211; $3.50 against the consensus of $3.39.
Price Action: R shares are trading higher by 2.96% at $133.73 at the last check Thursday.

General

Logistics Provider Ryder System Navigates Market Bumps: Beats Q2 EPS Estimates But Adjusts Annual Revenue Outlook

Ryder Sees Q3 Adj EPS Of $3.30 - $3.50 Vs. $3.39 Est.

Ryder Sees FY24 Revenue Growth Of About 8%; Adj EPS Of $11.90 - $12.40 Vs. $12.04 Est.

Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) reported quarterly earnings of $3.00 per share which beat the analyst consensus estimate of $2.87 by 4.53 percent. This is a 16.9 percent decrease over earnings of $3.61 per share from the same period last year. The company reported quarterly sales of $3.18 billion which missed the analyst consensus estimate of $3.24 billion by 1.79 percent. This is a 10.33 percent increase over sales of $2.88 billion the same period last year.

Ryder System Q2 Adj $3.00 Beats $2.87 Estimate, Sales $3.18B Miss $3.24B Estimate

Contracts

Teamsters At Ryder In Salt Lake City Reject Company's Final Offer, Authorize Strike; Ryder Truck Rental Mechanics And Service Attendants Rejected Co's Final Offer & Terminated Contract Extension

Shares of Ryder System, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/r#NYSE">R</a>) performed well on the bourse on Jul 12, 2024, closing the trading session at $128.75 per share, up 3.02% from the previous day&#39;s closing. The upside was owing to the dividend&nbsp;hike announcement by Ryder&#39;s board of directors.
In a shareholder-friendly move, R&#39;s board of directors has approved a dividend hike of 14.1%, thereby raising its quarterly cash dividend to 81 cents per share ($3.24 annualized) from 71 cents ($2.84 annualized). The raised dividend will be paid out on Sep 20, 2024, to shareholders of record at the close of business on Aug 19. The move reflects R&#39;s intention to utilize free cash to enhance its shareholders&#39; returns.
This marks Ryder&#39;s 192nd consecutive quarterly cash dividend. Notably, Ryder has been making uninterrupted dividend payments for more than 48 years.
<div class="chart_embed">
<h3>Ryder System, Inc. Dividend Yield</h3>
<img alt="ryderttm.jpg" src="https://www.benzinga.com/files/u1593113/ryderttm.jpg" style="height:306px; width:620px" />
Ryder System, Inc. dividend-yield-ttm | Ryder System, Inc. Quote
</div>
Ryder has been consistently making efforts to reward its shareholders through dividends and share buybacks, which are encouraging. During 2021, Ryder rewarded its shareholders through dividends of $122 million and repurchased shares worth $57 million. In 2022, Ryder paid dividends of $123 million and repurchased shares worth $557 million. In 2023, Ryder paid dividends of $128 million and repurchased shares worth $337 million. During first-quarter 2024, Ryder paid dividends of $35 million and repurchased shares worth $51 million.
Dividend-paying stocks provide a solid income stream and have fewer chances of experiencing wild price swings. Dividend stocks, like R, are safe bets for creating wealth, as the payouts generally act as a hedge against economic uncertainty like the current scenario.&nbsp;
R&#39;s management&#39;s decision to increase its quarterly dividend payout reflects the company&#39;s commitment to boosting shareholder value apart from underlining confidence in its business. We believe such shareholder-friendly initiatives should boost investor confidence and positively impact this Zacks Rank #3 (Hold) company&#39;s bottom line.
Notably, shares of Ryder have gained 45% over the past year compared with 28.9% growth of the industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/2b/71333.jpg?v=1746302105" />
Image Source: Zacks Investment Research
Ryder is not the only player from the Zacks Transportation sector that has rewarded its shareholders with dividend payouts or share buyback programs. To name a few, on Jun 20, 2024, Delta Air Lines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>) management announced a 50% hike in the quarterly dividend payout. This was the first dividend increase announced by DAL since its resumption of quarterly dividend payments last year following the COVID-induced hiatus. The decision reflects DAL&#39;s shareholder-friendly approach. Financial prosperity owing to strong passenger revenues may have led to the dividend hike.
Delta Air Lines raised its quarterly dividend to 15 cents per share (annualized 60 cents per share), representing an increase of 50% over the previous payout of 10 cents per share (annualized 40 cents per share). The new dividend, which has been approved by the company&#39;s board of directors, will be paid on Aug 20 to shareholders of record as of the close of business on Jul 30, 2024.
On Jun 10, 2024, FedEx Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) board of directors approved a dividend hike of 10%, thereby raising its quarterly cash dividend from $1.26 ($5.04 annualized) per share to $1.38 ($5.52 annualized).The raised dividend was paid on Jul 9 to shareholders of record at the close of business on Jun 24, 2024.
<a href="https://www.zacks.com/stock/news/2301633/ryder-r-stock-rises-more-than-3-following-dividend-hike?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2301633">To read this article on Zacks.com click here.</a>

Ryder Stock Rises More Than 3% Following Dividend Hike

Ryder Q3 2024 Earnings Preview

With the escalating manufacturing activities, government investment in industrial development, and advanced tech adoption, the industrial market is flourishing. Amid this, undervalued industrial stocks like KBR (KBR), Ryder System (R), and Vontier (VNT) could be attractive buys ahead of their third-quarter earnings release. Continue reading... The industrial sector is an essential segment that makes business processes more efficient and easier. The segment is rapidly expanding with the automation across different industries and wide adoption of advanced technologies, including AI and IoT.
Given this backdrop, it could be wise to invest in currently undervalued industrial stocks KBR, Inc. (<a href="https://stocknews.com/stock/KBR/">KBR</a>), Ryder System, Inc. (<a href="https://stocknews.com/stock/R/">R</a>), and Vontier Corporation (<a href="https://stocknews.com/stock/VNT/">VNT</a>), which can surge in price following their Q3 earnings.
Factors including geopolitical tensions, trade policy changes, and unforeseen disruptions like the COVID-19 pandemic have evolved business operations largely. The manufacturing and supply chains have also undergone major transformations in the last few years, resulting in <a href="https://manufacturing-today.com/news/why-the-reshoring-renaissance-is-the-future-of-u-s-manufacturing/">increased manufacturing activities</a> to cater to growing demands.
Driven by factors like the expansion of manufacturing activities in emerging economies, the rising prevalence of Industry 4.0, and the increasing adoption of automation, the <a href="https://www.cognitivemarketresearch.com/list/machinery-%26-equipment/industrial-equipment#:~:text=According%20to%20cognitive%20market%20research,with%20a%20CAGR%20of%204.20%25.">global industrial equipment market</a> is expected to grow exponentially. The market is expected to value $250 billion in 2024 and continue to expand to $347.40 billion by 2031, exhibiting a CAGR of 4.2%.
The rise of automation technologies, such as AI and robotics, is also propelling the industrial equipment market.
Besides, owing to solid economic growth, industrialization, and government investment in infrastructure development, the industrial services market has grown strongly in recent years. The market is <a href="https://www.thebusinessresearchcompany.com/report/industrial-services-global-market-report">poised to grow at a 5.7% CAGR</a>, resulting in a market volume of $44.05 billion by 2028.
The market demand is attributable to factors like increasing demand for distributed control systems (DCS), advanced technologies like IoT, AI, and data analytics in industrial processes, and increasing emphasis on remote monitoring and predictive maintenance.
Given these factors, let's delve deeper into the fundamentals of industrial stocks: KBR, R, and VNT.
KBR, Inc. (<a href="https://stocknews.com/stock/KBR/">KBR</a>)
KBR provides scientific, technology, and engineering solutions to governments and commercial customers globally. It operates in the Government Solutions and Sustainable Technology Solutions segments. It offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies.
In terms of forward EV/Sales, KBR is trading at 1.42x, 25.2% lower than the industry average of 1.90x. Likewise, the stock's forward EV/EBIT multiple of 15.60 is 6.5% lower than the industry average of 16.68. Also, its forward Price/Sales of 1.20x is 19.1% lower than the industry average of 1.48x.
On September 24, KBR was awarded an estimated $113 million task order to perform aeronautical systems research, development, test, and evaluation for the Air Force Life Cycle Management Center Mobility Directorate (AFLCMC/WL) at Wright-Patterson Air Force Base, Ohio, over a period of five years.
On September 3, KBR completed the acquisition of LinQuest Corporation, a leading provider of advanced engineering, data analytics, and digital integration with a strong history of solving complex technical challenges for national security space missions. The strategic expansion expands KBR's digital, national security space and intelligence capabilities.
KBR's revenues increased 5.8% year-over-year to $1.85 billion for the second quarter that ended June 28, 2024. The company's <a href="https://www.investopedia.com/terms/o/operatingincome.asp">operating income</a> grew 1710% from the year-ago value to $181 million. Net income attributable to KBR came in at $106 million, and its adjusted EPS rose 12.2% from the prior year's quarter, respectively.
Street expects KBR's revenue and EPS for the third quarter (ended September 2024) to increase 10.7% and 12% year-over-year to $1.96 billion and $0.84, respectively. Furthermore, the company surpassed the consensus EPS estimates in each of the trailing four quarters.
Shares of KBR have surged 9.9% over the past month and 11.8% over the past year to close the last trading session at $68.33.
KBR's robust growth prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Growth and Momentum. Within the B-rated <a href="https://stocknews.com/category/industrial-services/">Industrial - Services</a> industry, KBR is ranked #8 out of 82 stocks.
<a href="https://stocknews.com/stock/KBR/">Click here</a> to access additional ratings of KBR for Stability, Value, Sentiment, and Quality.
Ryder System, Inc. (<a href="https://stocknews.com/stock/R/">R</a>)
R operates as an international logistics and transportation company. The company operates in three segments: Fleet Management Solutions (FMS); Supply Chain Solutions (SCS); and Dedicated Transportation Solutions (DTS).
In terms of forward non-GAAP P/E, R is trading at 12.04x, 40.5% lower than the industry average of 20.22x. Also, the stock's forward EV/EBIT multiple of 14.07 is 15.6% lower than the industry average of 16.68. Further, its forward Price/Sales of 0.49x is 67.1% lower than the industry average of 1.48x.
On July 15, R entered into a definitive agreement to acquire Pit Stop Fleet Service, allowing expansion and further strengthening Ryder's Torque by Ryder&#x2122; retail mobile maintenance business offering, accelerating the growth of the product solution.
The acquisition is expected to benefit Ryder and Pit Stop customers, allowing greater economies of scale and offering unparalleled flexibility for fleets requiring swift maintenance services.
On July 12, R's Board of Directors declared a regular quarterly cash dividend of $0.81 per share of common stock, paid on September 20, 2024, to shareholders of record on August 19, 2024. The dividend reflected an increase of $0.10 from the $0.71 cash dividend paid quarterly since July 2023.
R pays an annual dividend of $3.24, which translates to a yield of 2.22% at the current share price. Its four-year average dividend yield is 2.82%. Moreover, the company's dividend payouts have increased at a CAGR of 9.2% over the past three years. R has raised its dividends for four consecutive years.
For the second quarter that ended June 30, 2024, R's total revenue increased 10.3% year-over-year to $3.18 billion. Its earnings from continuing operations before income taxes grew 304.5% from the year-ago value to $178 million. In addition, the company's net earnings came in at $127 million and $2.84 per common share for the quarter, respectively.
According to the outlook for the full year 2024, R expects total revenue growth of 8% from the prior year. The company also expects free cash flow in the range of $150 million to $250 million.
Analysts expect R's revenue for the fourth quarter (ending December 2024) to increase 11.5% year-over-year to $3.37 billion, and its EPS for the same quarter is expected to grow 20.9% year-over-year to $3.57. Moreover, the company has topped the consensus EPS estimates in all four trailing quarters.
R's shares have gained 21.5% over the past six months and 42.5% over the past year to close the last trading session at $145.99.
R's sound fundamentals are reflected in its POWR Ratings. The stock has a B grade for Stability and Value. Within the B-rated Industrial - Services industry, R is ranked #38 among 82 stocks.
In addition to the POWR Ratings we've stated above, we also have R ratings for Momentum, Growth, Sentiment, and Quality. Get all R ratings <a href="https://stocknews.com/stock/R/">here</a>.
Vontier Corporation (<a href="https://stocknews.com/stock/VNT/">VNT</a>)
VNT provides mobility ecosystem solutions globally. The company operates through Mobility Technologies; Repair Solutions; and Environmental and Fueling Solutions segments.
VNT's forward EV/EBITDA of 10.39x is 27.1% lower than the industry average of 14.25x. Similarly, the stock's forward non-GAAP P/E multiple of 11.60 is 51.5% lower than the industry average of 23.92. Also, its forward Price/Cash Flow of 11.07x is 51.2% lower than the industry average of 22.70x.
On September 25, Driivz, an EVolve&#x2122;e-mobility portfolio company of VNT and its partner Francis Energy, the fourth-largest owner and operator of fast-charging stations, announced a milestone update that they have successfully brought 1,100 charging ports online at over 200 locations to support over 20,000 drivers nationwide.
Also, on September 10, Gilbarco Veeder-Root, a Vontier company, secured a second significant tender with Indian companies in August. The tender is from Indian Oil Corporation Limited, where GVR has secured a large position for retail fuel dispensers for a total of $17 million in equipment and $10 million in services support.
VNT reported sales of $696.40 million for the second quarter that ended June 28, 2024. Its operating profit stood at $114.10 million. Also, the company's adjusted net earnings came in at $97.60 million and $0.63 per share for the quarter, respectively.
Furthermore, the company's adjusted free cash flow and adjusted EBITDA stood at $25.90 million and $151.70 million.
Analysts expect VNT's EPS for the first quarter (ending March 2025) to increase 17.6% year-over-year to $0.87, and its revenue is estimated to increase 3.6% year-over-year to $783.10 million for the same quarter. Also, the company surpassed the consensus EPS and revenue estimates in three of the trailing four quarters.
VNT's stock has soared 3.2% over the past month and 8.3% over the past year to close the last trading session at $33.20.
VNT's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
VNT has a B grade for Quality and Value. It is ranked #24 among the 87 stocks in the <a href="https://stocknews.com/category/industrial-equipment/">Industrial - Equipment</a> industry.
<a href="https://stocknews.com/stock/VNT/">Click here</a> to access additional VNT ratings for Stability, Sentiment, Momentum, and Growth.
What To Do Next?
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<hr />
KBR shares were unchanged in after-hours trading Wednesday. Year-to-date, KBR has gained 24.09%, versus a 22.57% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/kbr-r-vnt-3-undervalued-industrial-stocks-to-buy-ahead-of-q3-earnings/>3 Undervalued Industrial Stocks to Buy Ahead of Q3 Earnings</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Undervalued Industrial Stocks to Buy Ahead of Q3 Earnings

Here's the major earnings before the open tomorrow

Ryder gains after delivering a Q3 profit beat

Ryder System ( ($R) ) has provided an announcement. Ryder System, Inc. showcased strong third-quarter performance despite challenging market condit...

Ryder System Reports Strong Q3 Performance Amid Challenges

Ryder System, Inc. 2024 Q3 - Results - Earnings Call Presentation

Ryder System, Inc. (R) Q3 2024 Earnings Call Transcript

Robert W. Baird analyst Garrett Holland maintained a Buy rating on Ryder System (R – Research Report) yesterday and set a price target of $155.00. ...

Ryder System's Strategic Positioning and Attractive Valuation Amid Market Challenges

In a report released on October 24, Brian Ossenbeck from J.P. Morgan maintained a Hold rating on Ryder System (R – Research Report), with a price t...

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