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Ryder System Inc (R) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

SEC Filings

Ryder System Inc

CIK: 85961 Ticker: R
Exhibit 99.1


News Release


Contacts:    Media:                        Investor Relations:
Jonathan Mayor                    Bob Brunn
(305) 500-3161                 (305) 500-4210

Ryder Reports Third Quarter 2018 Results
Q3 GAAP EPS from Continuing Operations Up $0.57 or 51% to $1.69, Primarily Reflects a Lower Tax Rate, Lower Pension-Related Expenses, and Improved Operating Performance
Q3 Comparable EPS from Continuing Operations Up $0.30 or 22% to $1.64, Reflects a Lower Tax Rate from Tax Reform and Improved Operating Performance
Record Q3 Total Revenue Grows 17% to $2.2 Billion; Record Q3 Operating Revenue (non-GAAP) Up 13% to $1.7 Billion
Revised Full-Year 2018 GAAP EPS Forecast Range of $4.88 to $4.98 vs. Prior Forecast of $4.71 to $4.91
Revised Full-Year 2018 Comparable EPS Forecast Range (non-GAAP) of $5.72 to $5.82 vs. Prior Forecast of $5.62 to $5.82

MIAMI, Friday, October 26, 2018 - Ryder System, Inc. (NYSE: R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, today reported third quarter earnings and revenue. Results for the three months ended September 30 were as follows:

(dollars in millions, except EPS)
Earnings Before Taxes
 
Earnings
 
Diluted Earnings Per Share
 
2018
 
2017
 
Change
 
2018
 
2017
 
Change
 
2018
 
2017
 
Change
GAAP
$
116.1

 
94.5

 
23%
 
$
89.5

 
59.0

 
52%
 
$
1.69

 
1.12

 
51%
Non-operating pension costs
1.2

 
7.0

 
 
 
0.6

 
4.0

 
 
 
0.01

 
0.08

 
 
Restructuring and other, net
0.3

 
4.3

 
 
 

 
2.7

 
 
 

 
0.05

 
 
Tax law change and tax adjustment

 

 
 
 
(3.3
)
 
1.8

 
 
 
(0.06
)
 
0.03

 
 
Pension settlement charge

 
5.5

 
 
 

 
3.3

 
 
 

 
0.06

 
 
Comparable (non-GAAP)
$
117.6

 
111.2

 
6%
 
$
86.8

 
70.9

 
22%
 
$
1.64

 
1.34

 
22%

In the third quarter, the Company reported record total revenue and record operating revenue (a non-GAAP measure excluding all fuel and subcontracted transportation). Total revenue and operating revenue grew across all three business segments reflecting new business and higher volumes. Additionally, Supply Chain Solutions (SCS) revenue growth benefited from the second-quarter acquisition of MXD Group, Inc. (MXD). Total revenue also grew due to higher fuel costs passed through to customers.

1

The following information was filed by Ryder System Inc (R) on Friday, October 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ryder System Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Condensed Balance Sheets
Consolidated Condensed Balance Sheets (Parenthetical)
Consolidated Condensed Statements Of Cash Flows
Consolidated Condensed Statements Of Comprehensive Income
Consolidated Condensed Statements Of Earnings
Accrued Expenses And Other Liabilities
Accrued Expenses And Other Liabilities (Details)
Accrued Expenses And Other Liabilities (Tables)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Acquisitions
Acquisitions (Details)
Acquisitions (Tables)
Acquisitions Purchase Price Allocation (Details)
Debt
Debt (Details Textual)
Debt (Tables)
Debt - Schedule Of Debt (Details)
Derivatives
Derivatives (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
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Employee Benefit Plans (Tables)
General
General (Details)
Goodwill
Goodwill (Details)
Goodwill (Tables)
Income Taxes
Income Taxes (Details)
Other Items Impacting Comparability
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Other Items Impacting Comparability (Tables)
Other Matters
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Details Textual)
Recent Accounting Pronouncements (Policies)
Recent Accounting Pronouncements (Tables)
Recent Accounting Pronouncements Revenue Recognition - Effect On Consolidated Balance Sheets (Details)
Recent Accounting Pronouncements Revenue Recognition - Effect On Statement Of Consolidated Operations (Details)
Revenue
Revenue (Details)
Revenue (Tables)
Revenue Disaggregated Revenue - Major Products/Service Lines (Details)
Revenue Disaggregation Of Revenue - Geographical (Details)
Revenue Disaggregation Of Revenue - Industry (Details)
Revenue Earning Equipment
Revenue Earning Equipment (Details Textual)
Revenue Earning Equipment (Tables)
Revenue Earning Equipment Level 3 Fair Value Measurement (Details)
Revenue Earning Equipment Recognized Gains On Used Vehicles (Details)
Revenue Earning Equipment Schedule Of Revenue Earning Equipment (Details)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Share Repurchase Programs
Share Repurchase Programs (Details)
Share-Based Compensation Plans
Share-Based Compensation Plans (Details)
Share-Based Compensation Plans (Tables)
Share-Based Compensation Plans - Share-Based Compensation Expense And Income Tax Benefits Recognized During The Periods (Details)
Share-Based Compensation Plans - Summary Of Awards Granted (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Supplemental Cash Flow Information - Reconciliation Of Cash And Cash Equivalents (Details)
Ticker: R
CIK: 85961
Form Type: 10-Q Quarterly Report
Accession Number: 0000085961-18-000155
Submitted to the SEC: Fri Oct 26 2018 5:31:06 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Auto Rental And Leasing No Drivers

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