Freight market unlikely to rebound before 2025, Ryder says [Yahoo! Finance]
Ryder System, Inc. (R)
Last ryder system, inc. earnings: 4/29 07:55 am
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Source: Yahoo! Finance
Signs of market seasonality in Q3 have carried into Q4, but a freight market rebound is not expected this year, Ryder System executives said Thursday on an earnings call “What we saw in Q3 was a seasonal pickup, certainly not any type of larger pickup that would indicate the market is coming back,” CEO and Chairman Robert Sanchez said. “But a seasonal pickup is better than a decline.” While an inflection point might not come until next year, Ryder nevertheless projects year-over-year earnings growth in the final quarter of 2024, according to an investor presentation “There's been no signs of recovery yet here in the fourth quarter, and we're certainly not expecting that to happen here ... other than the normal seasonal holiday increase that we would typically get from a demand perspective with Thanksgiving and Christmas,” Fleet Management Solutions President Tom Havens said on the earnings call. The extended freight downturn and economic uncertainty have been causing some cus
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Earnings
- 10/24/24 - In-Line
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Sec Filings
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