Full-throttle Ryder between a cushion and a hard place
Let’s call it right (hopefully)
SEEKING ALPHA reports:
– Ryder press release (NYSE:R): Q4 Non-GAAP EPS of $3.89 beats by $0.40.
– Revenue of $3.1B (+19.2% Y/Y) beats by $100M.
– Operating revenue (non-GAAP) of $2.4B, up 14% Y/Y.
– Full-Year 2023 Outlook: ROE of 16%-18%; Comparable EPS (non-GAAP) forecast of $11.05-$12.05 vs 10.84 consensus; Operating revenue (non-GAAP) expected to increase by approximately 4%…
The full post can be found here.
The full statement is here.
Moreover, it also announced to a new “discretionary program to repurchase shares“.
It said:
“Under the new program, Ryder management is authorized to repurchase up to 2.0 million shares of common stock, at its discretion, from February 10, 2023 through February 10, 2025 (two years). This program is designed to provide management with capital structure flexibility while concurrently managing objectives related to target balance sheet leverage, acquisition opportunities, and shareholder returns.”
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