Ryder's 4Q Earnings Dip But Segments' Performance Improves

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yder System said Friday that its fourth-quarter net income fell to $58.8 million or 92 cents a share, from $62.6 million or 96 cents a year earlier, though the 2004 figures included a tax benefit of $9.2 million or 14 cents a share.

Fourth-quarter revenue rose 13% to $1.54 billion and all of its business segments reported growth, Ryder said in a statement.

Ryder’s fleet management unit’s revenue rose 7% to $1.02 billion. Its supply chain unit’s revenue jumped 31% to $482.7 million. Dedicated contract carriage revenue rose 11% to $142.5 million.

For all of 2005, revenue rose 11% from the previous year to $5.74 billion. The company earned $226.9 million or $3.52 a share, compared with $215.6 million or $3.28 a year earlier.

Ryder said its full-year 2006 earnings would be $3.75 to $3.90 per share, up 10% to 14% over 2005.

“We are forecasting Ryder's 2006 revenue to grow by 3% to 4%, and operating revenue to grow by 4% to 5%," said Ryder Chairman and Chief Executive Officer Greg Swienton.

Ryder is ranked No. 5 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.