Ryder reports Q1 adjusted EPS $2.54, consensus $2.27

Reports Q1 revenue $3.13B, consensus $3.14B. “The Ryder (R) team delivered solid first quarter results that exceeded our expectations,” says Ryder Chief Executive Officer John Diez. “Outperformance was driven by used vehicle sales results in FMS. Our results continue to demonstrate the earnings power and resiliency of our transformed business model. We’re encouraged by the positive momentum in contractual sales, with record sales performance continuing in SCS and stronger sales in FMS and DTS. We also experienced improving trends in used vehicle sales, and rental demand reflected historical seasonal patterns.”