Ryder System Reports Mixed Q3: Contractual Growth Meets Freight Market Challenges

Ryder System Inc (NYSE:R) shares are trading lower on Thursday after it reported third-quarter results.

Sales grew 8% year-on-year to $3.17 billion, missing the analyst consensus estimate of $3.29 billion.

Revenue from Fleet Management Solutions fell 1% to $1.47 billion, Supply Chain Solutions climbed 10% to $1.317 billion and Dedicated Transportation Solutions jumped 41% to $633 million.

Earnings before tax declined to $188 million from $213 million a year ago quarter. Adjusted EPS of $3.44 beat the analyst consensus of $3.42.

Operating cash flow for nine months totaled $1.7 billion, with a free cash flow of $218 million. Ryder System held $162 million in cash and equivalents as ...