Ryder raises FY23 comparable EPS view to $12.60-$12.85 from $12.20-$12.70

Consensus $12.78. Backs FY23 revenue view down 2%, consensus $11.88B. Sees FY23 free cash flow $100M. Sees FY23 capital expenditures $3.2B. “Our business model transformation is enabling us to achieve our earnings and return targets throughout the cycle,” says Ryder CFO John Diez. “Despite weakening freight conditions and used vehicle pricing that peaked over a year ago, we have demonstrated the ability to deliver strong results in a difficult environment. We remain confident that the continued execution of our balanced growth strategy will drive long-term value creation and shareholder returns.”