Ryder had a first quarter that blew away all consensus expectations.
But for the broader trucking market as a whole, the company, which is a leading source of used vehicles, is running out of things to sell.
The company’s non-GAAP earnings per share of $3.59 exceeded consensus by $1.21. The revenue of just under $3 billion was up 30.6% compared to the first quarter of 2021, and it topped the consensus forecast by $330 million.
Even with a softer trucking market, Ryder’s forecasts were all...
https://www.freightwaves.com/news/ryders-strong-quarter-boosted-by-used-truck-tractor-sales