Yahoo Finance Ryder (R) Closes Whiplash & Midwest Buyouts, Expands Network
Ryder System R recently completed the acquisitions of Whiplash and Midwest Warehouse & Distribution System (Midwest), expanding its e-commerce fulfillment network and boosting multi-client warehousing capabilities. The transactions are expected to drive growth of R’s supply chain solutions segment.
Whiplash, an omnichannel fulfillment and logistics service provider, was acquired on Jan 1, 2022 for approximately $480 million in cash. The buyout is expected to boost gross revenues at Ryder’s supply chain solutions business segment by approximately $480 million in 2022. It is also anticipated to drive earnings growth for R in the current year, besides being accretive to shareholders. The acquisition is expected to help Ryder deliver to 100% of the United States within two days and 60% of the United States within one day.
Ryder completed the acquisition of Midwest, a warehousing, distribution, and transportation solutions provider, on Nov 1, 2021. The transaction is anticipated to add approximately $135 million to R’s supply chain solutions revenues in 2022. It is also expected to boost the company’s 2022 earnings. The buyout expands Ryder’s network, adding nine multi-client and eight dedicated-customer warehouses.
Ryder System, Inc. Price
Ryder System, Inc. price | Ryder System, Inc. Quote
Zacks Rank & Other Key Picks
Ryder carries a Zacks Rank #2 (Buy). Some other stocks within the broader Transportation sector that investors can consider are as follows:
ArcBest Corporation ARCB flaunts a Zacks Rank #1 (Strong Buy). The company has a stellar earnings surprise history. It has outperformed the Zacks Consensus Estimate for earnings in each of the preceding four quarters, the average surprise being 27.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of ArcBest have surged more than 100% in a year’s time.
Expeditors International of Washington EXPD carries a Zacks Rank #1. The company’s earnings have outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 29.1%.
Shares of Expeditors have appreciated more than 38% in a year’s time.
Schneider National SNDR carries a Zacks Rank #2 (Buy). The company’s earnings have trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21%.
Shares of Schneider National have rallied more than 24% in a year’s time.
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