Ryder Reports First Quarter 2020 Results; Solid Liquidity Position Enhanced with Recent Financing Transactions and Improved Free Cash Flow

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Go back to Ryder Reports First Quarter 2020 Results; Solid Liquidity Position Enhanced with Recent Financing Transactions and Improved Free Cash Flow

Ryder System (R) Misses Q1 EPS by 60c

April 29, 2020 7:57 AM EDT

Ryder System (NYSE: R) reported Q1 EPS of ($1.38), $0.60 worse than the analyst estimate of ($0.78). Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.11 billion.

COVID-19 Impacts to Date and Outlook

Ryder enhanced its solid liquidity position in April by executing a $400 million syndicated term loan, completing a $400 million public bond offering, and renewing its $300 million receivable-backed financing facility. The company's solid liquidity position as of April 28, 2020 includes approximately $1 billion in cash in the U.S., $565 million in available revolver borrowings, and $100 million in availability under its receivable-backed financing facility.... More