Ryder’s Fourth-Quarter Profit Jumps
Ryder System said Thursday its fourth-quarter profit improved and that its operating revenue will rise 11% this year.
The Miami-based trucking and logistics company’s net income rose to $37.1 million, or 72 cents per share, from $8.2 million, or 15 cents, a year earlier.
Earnings from continuing operations rose to $41.5 million, or 80 cents per share, compared with $23.7 million, or 43 cents. Revenue rose 5% to $1.31 billion, while operating revenue rose 4% to $1.06 billion.
Full-year net income was $118.2 million, or $2.25 per share, up from $61.9 million, or $1.11, in 2009. Revenue rose 5% to $5.14 billion, while operating revenue gained 2% to $4.16 billion.
Ryder estimated its first-quarter earnings would be between 40 and 44 cents per share, and that its full-year revenue will rise 12% to $5.73 billion. Operating revenue will rise 11% to $4.63 billion, the company projected.
Ryder System is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
