Ryder Reports Higher Earnings; Raises ’05 Outlook
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yder said it had higher revenue from its fleet management solutions segment, which had a 10% rise in the quarter to $924.6 million.
yder System Inc. Thursday reported first-quarter net income of $41.5 million or 64 cents a share, compared with $35 million or 53 cents a year earlier.
Ryder’s Chairman and Chief Executive Officer Greg Swienton raised Ryder’s 2005 earnings forecast by 10 cents, to $3.30 to $3.40 a share for the full year.
The company’s profits rose 18% on acquisitions and higher sales of fuel to customers. Revenue for the quarter was $1.3 billion, up 9% from the first quarter last year.
Ryder is ranked No. 5 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.
