October 23, 2007 / 2:25 AM / 11 years ago

Ryder System cuts its Q3, 2007 profit outlook

Oct 8 (Reuters) - Ryder System Inc (R.N) said it cut its third quarter and full-year earnings outlook, hurt by softer-than-anticipated demand in the commercial rental product line, and from lower pricing and higher carrying costs. The transport company said it expects comparable earnings of $1.12 to $1.14 a share for the third quarter, down from its earlier expectation of $1.20 to $1.23 a share. The company lowered its comparable 2007 earnings forecast to $4.10 to $4.15 a share, down from its prior view of $4.30 to $4.35 a share. (Reporting by Sreerupa Mitra in Bangalore)

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