JB Reed/Bloomberg News
Ryder System Inc. said it increased its net income both in the fourth quarter of 2013 and the full year.
Ryder’s profit was $64.6 million in the quarter, or $1.22 a share, up from $53.8 million, or $1.05 a year earlier, Ryder said Feb. 4. The increased profit was mainly due to improved results in Ryder’s fleet management and supply chain units, it said.
Revenue was $1.62 billion, compared with $1.58 billion in 2012’s fourth quarter.
Comparable earnings from continuing operations were $72.1 million in the fourth quarter, or $1.35 a share, a new record for Ryder. That compares with $64.9 million, or $1.26 a share, a year ago.
For the full year, net income was $237.8 million, or $4.53 a share, compared with $210 million, or $4.09 a share, in 2012, Ryder said. The company’s revenue was $6.4 billion for the year, up from $6.3 billion.