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Ryder System provides Q2, FY'16 EPS forecasts

Ryder SystemInc. on April 26 provided EPS forecasts for the second quarter andfull year 2016.

Ryder System expects EPS from continuing operations to be inthe range of $1.42 to $1.47 for the second quarter. Nonoperating pension costsare expected to be 8 cents per share.

The company established a comparable EPS from continuingoperations forecast of $1.50 to $1.55 for the second quarter, reflectingunfavorable year-over-year comparisons in used vehicle sales and anincreasingly challenging rental environment, partially offset by continuedgrowth in the company's contractual product lines.

For full year 2016, the company expects EPS from continuingoperations to be in the range of $5.79 to $5.99, and nonoperating pension costsare expected to be 31 cents per share. Comparable EPS from continuingoperations is expected to be in the range of $6.10 to $6.30.

The S&P Capital IQ consensus normalized EPS estimate for2016 is $6.13.

Ryder System Chairman and CEO Robert Sanchez said thecompany's contractual businesses are expected to continue to grow in line withprior expectations. The company plans to begin anti-dilutive share repurchasesin the second quarter, he said.