Ryder is cutting up to 3100 jobs, with 2400 of those being non-U.S. jobs, in order to focus on its key markets.
Despite beating street expectations for Q2, Ryder lowered yearly revenue guidance, dropping share price 10%
Ryder announces it is acquiring Florida-based Gator Leasing
EPS guidance are above street estimates.
Ryder System cut its Q3 and full-year earnings forecast, as its fleet management business is not doing well and the demand for its commercial rental products has gone down. The company feels that the current economic conditions related to the housing and construction markets, lower pricing and higher used-vehicle carrying costs are affecting its business segments. It expects to earn $1.12-1.14 per share in Q3, compared to the previously announced $1.2-1.23 per share.