Ryder System Inc.
reported total revenue for the fourth quarter at $1.54 billion, up 17% from $1.31 billion in the same period in the prior year, reflecting the benefit of acquisitions, organic growth and fuel services.
Fourth-quarter earnings per diluted share from continuing operations were 92 cents, compared to 80 cents a year ago. Earnings from continuing operations for the fourth quarter of 2011 were $47.7 million, compared with $41.5 million in the year-earlier period.
Total revenue from continuing operations for the full year 2011 was $6.05 billion, up 18% from $5.14 billion in 2010. Operating revenue from continuing operations for the full-year 2011 was $4.81 billion, up 16% from $4.16 billion in 2010.
Ryder's 2011 earnings from continuing operations were $171.4 million, compared with $124.6 million in the year-earlier period. Earnings per diluted share from continuing operations were $3.31 for 2011, up 40% versus $2.37 in 2010. Comparable 2011 earnings from continuing operations were $180.6 million, an improvement of 54% from $117 million in 2010.
Comparable 2011 earnings per diluted share from continuing operations of $3.49 rose 57% from $2.22 in 2010. Comparable earnings and earnings per share from continuing operations excluded restructuring and other items, and certain tax items in both 2011 and 2010.
Ryder forecasts full-year 2012 comparable earnings to be in the range of $4.00 to $4.10 per diluted share, excluding 2 cents per share of acquisition-related restructuring costs anticipated in the first quarter. This represents a mid-point increase of 16% over Ryder's comparable full-year 2011 earnings from continuing operations of $3.49 per diluted share.
Ryder is also establishing a first quarter 2012 comparable earnings forecast of 55 cents to 58 cents per diluted share. Total revenue for the full-year 2012 is forecast to be approximately $6.3 billion, up 4% from $6.05 billion in 2011.