Why Ryder System Shares Are Surging Today
Portfolio Pulse from Shivani Kumaresan
Ryder System Inc reported a Q2 FY23 revenue decline of 4.9% YoY to $2.88 billion, missing the analyst consensus of $3.05 billion. However, its EPS of $3.61 beat the analyst consensus of $2.91. The company raised its FY23 adjusted EPS outlook from $11.30 - $12.05 to $12.20 - $12.70. Ryder's shares are trading higher by 6.85% at $98.08.
July 26, 2023 | 4:12 pm
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Ryder System's Q2 revenue missed estimates but EPS beat expectations. The company raised its FY23 EPS outlook, leading to a surge in its stock price.
Ryder System's Q2 revenue fell short of estimates, which could have a negative impact. However, the company's EPS beat expectations and it raised its FY23 EPS outlook, which are positive signals. These factors likely contributed to the surge in its stock price.
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