MIAMI (AP) _ Ryder System Inc. (R) on Wednesday reported third-quarter net income of $35.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Miami-based company said it had profit of 68 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.21 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 43 cents per share.
The truck leasing company posted revenue of $2.15 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $2 billion.
Ryder shares have declined slightly more than 7% since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 5%. The stock has decreased roughly 9% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on R at https://www.zacks.com/ap/R
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