(RTTNews) - While reporting financial results for the second quarter on Tuesday, Ryder System, Inc. (R) lowered its comparable earnings guidance for the full-year 2019 to a range of $5.50 to $5.80 from the prior range of $6.05 to $6.35 per share, primarily reflecting weaker expected market conditions in used vehicle sales.
The company also now projects reported earnings for the year in a range of $4.80 to $5.10 per share, down from the prior range of $5.28 to $5.58 per share.
Further, Ryder established a third-quarter earnings forecast in a range of $1.20 to $1.35 per share, and comparable earnings from continuing operations in the range of $1.45 to $1.60 per share.
On average, analysts polled by Thomson Reuters expect the company to earn $6.13 per share for the year and $1.73 per share for the third quarter. Analysts' estimates usually exclude special items.