Ryder Lowers Earnings Forecast

Ryder System lowered its second-quarter and full-year earnings estimates, primarily due to weaker demand for truck rentals.

Miami-based Ryder lowered its second-quarter forecast to a range of 90 cents to 95 cents a share, from a previous $1.07 to $1.12.

It also cut its full-year outlook, to a range of $3.65 and $3.85 per share, from $4.02 to $4.12.

Even at the low end, Ryder would exceed its 2011 results, when net income on a per-share basis was $3.49.

“Performance in Ryder’s contractual full-service lease product line and Supply Chain Solutions operations is expected to be improved year-over-year and in line with the company’s previous forecast,” Ryder said in a statement.

Ryder’s Supply Chain Solutions unit is ranked No. 12 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.