NYSE$R
Ryder System Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Reported significantly higher year-over-year earnings, made progress on initiatives to improve returns, and generated $1.6 billion of free cash flow.
Ryder System, Inc. reported Q4 2020 results with total revenue of $2.2 billion, a decrease of 3%. GAAP EPS from continuing operations was $0.48, compared to a loss of $(1.02) in the prior year. Comparable EPS from continuing operations was $0.83, including a $0.38 one-time expense for frontline employee bonuses.
- Total revenue decreased by 3% to $2.2 billion, reflecting lower fuel revenue.
- Operating revenue remained unchanged at $1.8 billion, as higher revenues in supply chain were offset by lower revenues in fleet management and dedicated businesses.
- GAAP EPS from continuing operations was $0.48, compared to a loss of $(1.02) in the prior year, primarily due to improved results in used vehicle sales, lease, and rental.
- Comparable EPS from continuing operations was $0.83, including a $0.38 one-time expense for frontline employee bonus, versus a loss of $(0.01) in the prior year.
Headline financials
Revenue & EPS history
Ryder · Revenue · Quarterly
$2.21B
Revenue by segment
Ryder · $3.07B total across 6 segments · Q1 2023
- Supply Chain Solutions$1.2B+10.3%39.1%
- ChoiceLease$776M—25.3%
- Dedicated Transportation$454M+6.8%14.8%
- Commercial Rental$304M—9.9%
- SelectCare & Other$182M—5.9%
- Fuel Services$152M—5.0%
Forward guidance
Ryder provided full year 2021 guidance, including GAAP EPS forecast of $4.18 - $4.68 and comparable EPS forecast of $4.15 - $4.65. They also forecast operating cash flow of $2.2 billion and free cash flow of $400M - $700M.
Tailwinds
- Expect improving economic conditions and continued secular trends that favor outsourcing.
- Expect higher contractual sales activity based on an improved deal pipeline.
- Operating revenue growth in SCS and DTS is expected to be within the high-single-digit target range.
- FMS growth is expected to be near the lower end of the mid-single digit target range.
- Used vehicle market pricing is anticipated to modestly improve throughout the year.
Headwinds
- The 2021 market environment remains uncertain and may be impacted by developments related to COVID-19 and other factors.
- Benefits from higher lease pricing and our maintenance cost-savings initiative are expected to be partially offset by a smaller lease fleet.
- Depreciation expense impact from prior residual value estimate changes
- Smaller lease fleet
- Used vehicle market pricing is anticipated to modestly improve throughout the year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
-0.5%
Avg return
Earnings day
-1.6%
Avg return
5 days after
+0.5%
Avg return
30 days after
52%
36 / 69 earnings
Positive
+15.3%
Q1 2020
Best reaction
-20.1%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.7% | +8.8% | +7.1% | |
| Q4 2025 | +2.4% | +0.7% | -11.4% | |
| Q3 2025 | -12.2% | -7.6% | -8.0% | |
| Q2 2025 | -0.8% | -1.2% | +2.1% | |
| Q1 2025 | -1.9% | +0.1% | +8.2% | |
| Q4 2024 | +3.0% | +5.2% | -11.1% | |
| Q3 2024 | -3.6% | +0.1% | +14.2% | |
| Q2 2024 | +1.8% | +7.3% | +9.5% | |
| Q1 2024 | +12.1% | +11.9% | +10.5% | |
| Q4 2023 | -7.6% | -9.5% | -5.2% | |
| Q3 2023 | -4.9% | -3.0% | +9.8% | |
| Q2 2023 | +8.4% | +11.3% | +5.6% | |
| Q1 2023 | -6.4% | -3.8% | -4.1% | |
| Q4 2022 | +1.9% | +1.8% | -14.2% | |
| Q3 2022 | +9.9% | +7.9% | +28.7% | |
| Q2 2022 | +4.4% | +4.3% | +8.4% | |
| Q1 2022 | +4.4% | +4.5% | +17.9% | |
| Q4 2021 | +2.7% | +2.8% | +10.1% | |
| Q3 2021 | -4.8% | -5.0% | -6.2% | |
| Q2 2021 | +4.5% | +2.5% | +9.9% | |
| Q1 2021 | +6.7% | +4.5% | +6.5% | |
| Q4 2020 | -6.2% | -7.5% | +11.9% | |
| Q3 2020 | +1.4% | -1.2% | +21.0% | |
| Q2 2020 | -10.8% | -14.4% | -1.3% | |
| Q1 2020 | +15.3% | +6.8% | +11.6% | |
| Q4 2019 | -20.1% | -23.4% | -38.5% | |
| Q3 2019 | -12.1% | -8.9% | -3.3% | |
| Q2 2019 | -10.2% | -15.9% | -19.3% | |
| Q1 2019 | -7.5% | -2.8% | -20.2% | |
| Q4 2018 | +6.5% | +5.8% | +0.7% | |
| Q3 2018 | -10.3% | -9.3% | -12.1% | |
| Q2 2018 | +7.3% | +5.0% | +6.3% | |
| Q1 2018 | -9.1% | -9.3% | -6.9% | |
| Q4 2017 | -11.4% | -11.8% | -11.3% | |
| Q3 2017 | -1.7% | +1.6% | -6.5% | |
| Q2 2017 | -0.5% | -1.1% | +1.0% | |
| Q1 2017 | -14.1% | -14.3% | -15.7% | |
| Q4 2016 | -4.9% | -4.5% | -1.3% | |
| Q3 2016 | +5.6% | +5.2% | +22.9% | |
| Q2 2016 | -5.9% | -6.6% | -8.0% | |
| Q1 2016 | +9.5% | — | — | |
| Q4 2015 | -5.0% | — | — | |
| Q3 2015 | -2.3% | — | — | |
| Q2 2015 | -5.8% | — | — | |
| Q1 2015 | +2.9% | — | — | |
| Q4 2014 | +5.3% | — | — | |
| Q3 2014 | -3.2% | — | — | |
| Q2 2014 | +1.3% | — | — | |
| Q1 2014 | +2.1% | — | — | |
| Q4 2013 | +0.1% | — | — | |
| Q3 2013 | +3.7% | — | — | |
| Q2 2013 | -2.2% | — | — | |
| Q1 2013 | -0.6% | — | — | |
| Q4 2012 | +6.7% | — | — | |
| Q3 2012 | +2.7% | — | — | |
| Q2 2012 | +8.2% | — | — | |
| Q1 2012 | +1.2% | — | — | |
| Q4 2008 | +0.4% | — | — | |
| Q4 2011 | +0.4% | — | — | |
| Q3 2011 | +9.5% | — | — | |
| Q4 2010 | -0.9% | — | — | |
| Q2 2011 | -0.9% | — | — | |
| Q1 2010 | +6.2% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q3 2009 | -2.7% | — | — | |
| Q3 2010 | -2.7% | — | — | |
| Q4 2009 | +0.6% | — | — | |
| Q2 2009 | +0.6% | — | — | |
| Q2 2010 | +0.6% | — | — |
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