Ryder System Inc. R posted strong first-quarter 2016 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The transportation company’s adjusted earnings per share of $1.12 in the quarter beat the Zacks Consensus Estimate of $1.05. Earnings also improved 4% from the year-ago figure.Moreover, this major provider of integrated logistics and transportation solutions registered revenues of $1,629.7 million in the reported quarter, up 4% year over year and also above the Zacks Consensus Estimate of $1,599 million. Meanwhile, operating revenues increased 8% year over year to $1,406 million.Segment ResultsFleet Management Solutions: Total revenue improved 1% to $1.1 billion in the first quarter of 2016. Meanwhile, operating revenues (revenue excluding fuel) moved up 7% year over year to $962.3 million. Excluding the impact of foreign currency movements, operating revenues climbed 8% at the segment.Supply Chain Solutions: Total revenue came in at $388.7 million, up 5% from the year-ago quarter. Operating revenues (excluding fuel and subcontracted transportation) grew 9% year over year to $322.4 million. Excluding the impact of foreign currency movements, operating revenues improved 11% at the segment.Dedicated Transportation Solutions: Total revenue in the quarter under review was $244.8 million, up 15% year over year. Meanwhile, operating revenues (revenue excluding fuel and subcontracted transportation) increased 15% year over year to $190.3 million. Liquidity & Capital ExpenditureRyder System exited the first quarter of 2016 with cash and cash equivalents of $56.8 million compared with $60.9 million recorded at end-2015. The company had total debts of $5,599.4 million compared with $5,502.6 million at the end of 2015. The company exited the quarter with operating cash of $365 million, as opposed to $284 million in 2015. Capital expenditures decreased over 23% to $498 million primarily due to lower planned investments in the commercial rental fleet. The company intends to resume its previously announced two million share anti-dilutive buyback program in the second quarter. GuidanceThe company maintains 2016 adjusted earnings projection in the band of $6.10 to $6.30 per share. The Zacks Consensus Estimate for 2016 is pegged at $6.14 per share. The company expects second-quarter adjusted earnings per share in the band of $1.50 to $1.55. The Zacks Consensus Estimate for the same stands higher at $1.61 per share. Free cash flow for 2016 is projected at $100 million.Zacks Rank & Stocks to ConsiderRyder System currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the transportation space include Canadian Pacific Railway Limited CP, Student Transportation STB and International Consolidated Airlines Group S.A. ICAGY. All the three stocks sport a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report INTL CONS AIRLN (ICAGY): Free Stock Analysis Report RYDER SYS (R): Free Stock Analysis Report CDN PAC RLWY (CP): Free Stock Analysis Report STUDENT TRANSPT (STB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research