Ryder System (R $36.55 -4.21) revised its earnings guidance lower for the second quarter and full year 2012 primarily due to lower than expected results in its Fleet Management Solutions business segment. The lower FMS results reflect a reduced demand environment primarily for the commercial rental product line, and actions taken to reduce used vehicle inventories.
Additionally, unusually high co-wide medical benefit costs are expected to reduce earnings by ~$0.05 per diluted share in the quarter. Performance in Ryder's contractual full service lease product line and Supply Chain Solutions operations is expected to be improved year-over-year and in line with the company's previous forecast.






