met analysts' earnings expectations for the latest third quarter, but warned that profits may fall short of estimates for the following period.
The logistics and transportation management company reported earnings from continuing operations before charges and unusual items of 60 cents a diluted share in the latest third quarter, compared with 55 cents in the third quarter a year ago. According to a
First Call/Thomson Financial
survey, eight analysts expected the company to earn 60 cents.
Revenue for the quarter increased to $1.34 billion, up from $1.26 billion in the same period a year ago.
Ryder also said that, based on external market trends and other events, it believes fourth-quarter earnings may be in the range of 45 cents to 50 cents a share, yielding earnings for the full year of $1.88 to $1.93 a share. Analysts expect the company to earn 62 cents a share for the fourth quarter and $2.05 a share for the year.
Shares of Ryder were recently trading down $1.94 cents, or 11.5%, to $14.88 in
New York Stock Exchange