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Ryder -7% on light profit guidance

Jul. 30, 2019 8:29 AM ETRyder System, Inc. (R) StockRBy: Clark Schultz, SA News Editor6 Comments
  • Ryer (NYSE:R) drops profit guidance after warning that it's seeing softening demand for heavy-duty tractors in its transactional used vehicle sales and rental product lines, driven primarily by slowing demand from for-hire transportation companies.
  • Looking ahead, Ryder sees Q3 EPS of $1.45 to $1.60 vs. $1.74 consensus and full-year EPS of $5.50 to $5.80 vs. $6.05 to $6.45 prior and $6.13 consensus.
  • Shares of Ryder are down 7.28% premarket to $55.00.
  • Previously: Ryder EPS and revenue in-line (July 30)

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