- 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)