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![RYDER SYSTEM INC [R] reports annual net loss of $406.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FR.png&w=1200&q=75)
RYDER SYSTEM INC [R] has reported a net loss of $406.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $11.8 billion
Based in MIAMI, Florida, RYDER SYSTEM INC operates in the SERVICES sector.
Consolidated Statements of Earnings - USD ($) $ in Millions 12 Months Ended
Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2021
Lease & related maintenance and rental revenue $3.94B $4.17B $3.99B Total revenue $11.78B $12.01B $9.66B
Selling, general and administrative expenses $1.42B $1.41B $1.19B Non-operating pension costs, net $40M $11M ($1M) Used vehicle sales, net ($196M) ($450M) ($257M) Interest expense $296M $228M $214M Miscellaneous income, net ($47M) ($32M) ($66M) Currency translation adjustment loss $188M $0 $0 Restructuring and other items, net ($21M) $2M $32M Total expenses $11.17B $10.80B $8.97B
Earnings from continuing operations before income taxes $618M $1.22B $693M Provision for income taxes $212M $353M $171M Earnings from continuing operations $406M $863M $522M Earnings (loss) from discontinued operations, net of taxes $0 $4M ($3M) Net earnings $406M $867M $519M
Earnings per common share — Basic Continuing operations $8.89 $17.32 $9.92 Discontinued operations ($0.01) $0.09 ($0.05) Net earnings $8.89 $17.41 $9.87
Earnings per common share — Diluted Continuing operations $8.73 $16.96 $9.70 Discontinued operations ($0.01) $0.08 ($0.05) Net earnings $8.73 $17.04 $9.66
Services revenue Revenue $7.30B $7.12B $5.18B Cost of services sold $6.27B $6.15B $4.50B
Fuel services revenue Revenue $549M $719M $487M Cost of services sold $534M $694M $474M
Cost of lease & related maintenance and rental Cost of services sold $2.68B $2.77B $2.88B
In summary, comparing the financial data for the 12 months ended December 31, 2023, with the same period in 2022 and 2021:
- Lease & related maintenance and rental revenue decreased from $4.17 billion in 2022 to $3.94 billion in 2023, but it was slightly higher than in 2021 at $3.99 billion.
- Total revenue decreased from $12.01 billion in 2022 to $11.78 billion in 2023, compared to $9.66 billion in 2021.
- Earnings from continuing operations decreased from $863 million in 2022 to $406 million in 2023 but was higher than 2021 at $522 million.
- Net earnings decreased from $867 million in 2022 to $406 million in 2023, compared to $519 million in 2021.
- Earnings per share showed a decrease in basic and diluted amounts from 2022 to 2023, with basic EPS at $17.41 in 2022 to $8.89 in 2023 and diluted EPS at $17.04 in 2022 to $8.73 in 2023.
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