Fourth Quarter 2023 Highlights

* GAAP EPS from continuing operations of $2.74 compared to $4.06 in prior year

* Comparable EPS (non-GAAP) from continuing operations of $2.95, as compared to $3.89 in prior year, reflecting weaker market conditions in used vehicle sales and rental, partially offset by improved Supply Chain Solutions (SCS) results

* Total revenue of $3.0 billion compared to $3.1 billion in prior year

* Operating revenue (non-GAAP) of $2.4 billion, up 2%

Full-Year 2023 Highlights

* GAAP EPS from continuing operations of $8.73, which includes a non-cash UK exit currency translation charge of $3.93, compared to $16.96 in prior year

* Comparable EPS (non-GAAP) from continuing operations of $12.95 compared to $16.37 in prior year, reflecting weaker used vehicle sales and rental market conditions, partially offset by improved Dedicated Transportation Solutions (DTS) and SCS results

* Adjusted return on equity (ROE) of 19%, compared to 29% in prior year

* Total revenue of $11.8 billion compared to $12.0 billion in prior year

* Operating revenue (non-GAAP) of $9.5 billion, up 2%

* Full-year 2023 net cash provided by operating activities from continuing operations of $2.4 billion and free cash flow (non-GAAP) of negative $54 million

Full-Year 2024 Outlook

* ROE of 15% - 16.5%

* Comparable EPS (non-GAAP) of $11.50 - $12.50

* Operating revenue (non-GAAP) expected to increase by approximately 13%, including recent acquisitions

* Net cash provided by operating activities from continuing operations of $2.4 billion and free cash flow (non-GAAP) of negative $275 - $375 million

MIAMI- Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, reported results for the three months ended December 31 as follows:

See full results at: https://newsroom.ryder.com/news/news-details/2024/Ryder-Reports-Fourth-Quarter-2023-Results-and-Provides-2024-Outlook/default.aspx

Media:

Amy Federman

afederman@ryder.com

Investor Relations:

Calene Candela

ccandela@ryder.com

(C) 2024 Electronic News Publishing, source ENP Newswire