Ryder Systems Shares Fall After Profit Outlook Cut
Ryder System Inc. shares declined in the extended session Monday after the truck rental company cut their profit outlook for the third quarter and for the year. Ryder shares fell 6% to $71.10. The company expects third-quarter earnings of $1.72 to $1.74 a share, down from a range of $1.82 to $1.87 a share. For the year, Ryder lowered expected earnings to a range of $6.17 to $6.29 a share, from a previous forecast of $6.45 to $6.55 a share. Analysts surveyed by FactSet had estimated earnings of $1.86 a share for the third quarter, and $6.49 a share for the year.
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