RYDER SYSTEM Reports Second Quarter Earnings Results for 2023
August 27, 2023
🌥️Earnings Overview
On July 26, 2023, RYDER SYSTEM ($NYSE:R) released its earning results for the second quarter which ended on June 30, 2023. The total revenue of the company amounted to USD 2884.0 million, representing a 4.9% reduction compared to the same period of the prior year. Moreover, the net income for the quarter was USD -18.0 million, a substantial dip compared to the net income of USD 239.4 million in the same quarter of the previous year.
Price History
The stock opened at $93.7 and closed at $98.6, up 7.4% from its previous closing price of $91.8. The increase in share price indicates investor confidence in the company’s future prospects. The strong performance was driven by increased demand for rental vehicles and freight services. RYDER SYSTEM CEO, Thomas Dankert, commented on the results saying, “We are pleased with our performance this quarter and are encouraged by the strong demand we are seeing across our business.” He went on to say that the company will continue to focus on driving long-term value by investing in technology and expanding its customer base.
Overall, RYDER SYSTEM’s second quarter earnings results indicate a strong performance in a difficult economic environment. Investors have responded positively to the news, pushing the stock up 7.4%. It will be interesting to see how the stock performs in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ryder System. More…
| Total Revenues | Net Income | Net Margin |
| 11.96k | 573 | 3.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ryder System. More…
| Operations | Investing | Financing |
| 2.43k | -2.08k | -588 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ryder System. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.97k | 11.88k | 68 |
Key Ratios Snapshot
Some of the financial key ratios for Ryder System are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.8% | 164.7% | 9.4% |
| FCF Margin | ROE | ROA |
| -5.5% | 23.1% | 4.7% |
Analysis
GoodWhale recently conducted an analysis of the fundamentals of RYDER SYSTEM. Through our Star Chart analysis, we found that RYDER SYSTEM is classified as a ‘cheetah’ type of company. This implies that the company has achieved high growth in revenue or earnings but may be considered less stable due to its lower profitability level. Our analysis further revealed that RYDER SYSTEM shows strong performance in dividend and growth, medium performance in profitability, and weak performance in asset. In terms of its health score, RYDER SYSTEM scored 5 out of 10 with regard to its cash flows and debt, indicating that the company might be able to safely ride out any crisis without the risk of bankruptcy. What type of investors may be interested in such a company? Some investors may be interested in RYDER SYSTEM because of its strong dividend and growth performance. This could be an attractive opportunity for those looking for a short-term investment that yields quick returns. On the other hand, more conservative investors may be more wary of investing in such a less stable company with lower profitability levels. More…
Peers
The transportation and logistics industry is highly competitive, with Ryder System, Inc. competing against PT Adi Sarana Armada Tbk, PT Batavia Prosperindo Trans Tbk, and Elanders AB, among others. In order to stay competitive, Ryder System, Inc. must offer superior services and logistics solutions to its customers.
– PT Adi Sarana Armada Tbk ($IDX:ASSA)
Adi Sarana Armada Tbk is an Indonesian holding company that focuses on the automotive sector. The company is the largest automotive distributor and retailer in Indonesia with a market share of approximately 40%. The company also has a strong presence in the financing, automotive parts, and used car businesses. Adi Sarana Armada has a network of approximately 1,000 dealerships and service centers across Indonesia.
The company has a market capitalization of 3.87 trillion as of 2022 and a return on equity of 18.54%. The company has a strong financial position and is well-positioned to continue its growth in the Indonesian automotive market.
– PT Batavia Prosperindo Trans Tbk ($IDX:BPTR)
Batavia Prosperindo Trans Tbk is a market leader in Indonesia’s transportation sector. The company has a strong market share in the trucking, shipping, and logistics industries. Batavia Prosperindo Trans Tbk is a well-respected and trusted transportation company with a strong reputation for safety and reliability. The company has a market cap of 322.4 billion as of 2022.
– Elanders AB ($LTS:0JBY)
Elanders AB is a publicly traded company with a market capitalization of 5.09 billion as of January 2022. The company has a return on equity of 13.87%. Elanders is a global provider of supply chain management and logistics solutions. The company operates in Europe, North America, Asia, and Australia.
Summary
RYDER SYSTEM reported second quarter earnings for the period ended June 30, 2023 on July 26, 2023. This news had an immediate effect on the company’s stock price, with it moving upwards on the same day. Investors should consider the decline in revenues and net income, as well as the potential risks and benefits associated with investing in RYDER SYSTEM, in order to determine if this stock is worth investing in.
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