Ryder System, Inc. reports developments in outsourced logistics and transportation services across the United States, Canada, and Mexico. The company provides supply chain, dedicated transportation, and fleet management solutions, including managed transportation, freight brokerage, dedicated contract carriage, full-service fleet leasing and maintenance, commercial truck rental, warehousing and distribution, e-commerce fulfillment, last-mile delivery, contract manufacturing and packaging, and used vehicle sales.
Recurring Ryder news covers quarterly operating results, segment performance in Fleet Management Solutions, Supply Chain Solutions, and Dedicated Transportation Solutions, cash dividends, share repurchase authorizations, facility expansions, technology-enabled fleet services, automation, electric-vehicle solutions, industry conference updates, and customer demand across logistics, transportation, automotive, retail, and industrial markets.
Ryder System reported Q3 2024 results with GAAP EPS of $3.25 and comparable EPS of $3.44, down from $3.44 and $3.58 respectively in the prior year. Total revenue reached $3.2 billion, up 8% from Q3 2023, while operating revenue grew 9% to $2.6 billion. The company reaffirmed its full-year 2024 guidance, including comparable EPS of $11.90-$12.10 and adjusted ROE of 16-16.5%. Performance was marked by weaker market conditions in rental and used vehicle sales, offset by stronger results in contractual lease, supply chain, and dedicated businesses. The company maintains a solid balance sheet with debt-to-equity at 249%, slightly below its target range.
Ryder System, Inc. (NYSE: R) has announced the winners of its 27th Annual Ryder Carrier Quality Awards, recognizing 13 carriers for service quality and operational excellence. The awards are based on metrics including on-time performance, customer service, economic value, and innovation.
Ryder manages a network of 87,500 qualified carriers under contract to move more than $11 billion in freight annually for its customers. This year's honorees were particularly noted for their commitment to technology and innovation to improve efficiency and resilience in an unpredictable market.
The awards span various categories, including National and Regional Dry Van Carriers, Intermodal, Refrigerated, Flatbed, LTL, Oil & Gas, Canadian Truckload and LTL, Freight Forwarder, Maritime, and Drayage Carriers. Ryder's carrier network supports a range of transportation logistics services, including freight brokerage, transportation management, dedicated contract carriage, and last mile delivery.
Ryder System, Inc. (NYSE: R) has announced a new discretionary share repurchase program authorized by its Board of Directors. The program allows management to repurchase up to 2.0 million shares of common stock from October 9, 2024 through October 9, 2026. This initiative aims to provide capital structure flexibility while managing balance sheet leverage, acquisition opportunities, and shareholder returns.
The company's previous 2.0 million share repurchase program, authorized in October 2023, was completed in September 2024. Ryder also maintains an anti-dilutive share repurchase program authorized in October 2023, allowing the repurchase of up to 2.0 million shares through October 12, 2025. As of September 30, 2024, 753,000 shares have been repurchased under this program.
Ryder's CEO Robert Sanchez highlighted the company's strong earnings power and successful execution of its balanced growth strategy. As of September 30, 2024, Ryder had approximately 42.3 million shares of common stock outstanding.
Ryder System, Inc. (NYSE: R) has released its latest Corporate Sustainability Report (CSR) and CDP Climate Change Response for the period of January 1 to December 31, 2023. The reports highlight Ryder's commitment to responsible business practices, focusing on environmental, workforce, safety, and governance efforts.
The CSR references global standards including GRI, SASB, and TCFD, while the CDP response provides detailed environmental disclosure. Ryder has been tracking and disclosing emissions since 2009, aiming to improve operations and develop sustainable solutions for customers.
CEO Robert Sanchez emphasizes Ryder's focus on optimizing supply chains, improving efficiencies, conserving resources, and minimizing waste. The company's sustainability initiatives support the safe and efficient delivery of goods across North America, reflecting its commitment to creating value for all stakeholders.
Ryder System has released its 10th annual e-commerce consumer study, highlighting evolving consumer behaviors. The 2024 study, titled 'The Influence of Omnichannel Excellence on Consumer Behavior', reveals a 21% increase in in-store shopping sentiment. Despite a strong affinity for e-commerce, consumers are returning to physical stores for experiences like trying items on and comparing products. Key findings include:
- 61% enjoy in-store shopping for the experience, up 21% from last year.
- 35% shop in-store to avoid waiting for deliveries, up 4%.
- 15% shop in-store to avoid package theft, up 8%.
- 41% of cosmetics shoppers and 54% of apparel shoppers prefer physical locations, both up 9%.
- 55% prefer returning online purchases in-store, a 15% increase.
- 77% use mobile devices to search for items while in-store.
The study emphasizes the importance of omnichannel strategies for retailers to meet evolving consumer expectations and enhance customer satisfaction.
Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, has announced details for its third quarter 2024 earnings conference call. The call is scheduled for Thursday, October 24, 2024, from 11:00 a.m. to 12:00 p.m. Eastern Time. During the call, management will review the company's third quarter 2024 results.
The conference call will be accessible via a live webcast on Ryder's website. Participants can also join by phone using the provided toll-free and international numbers. Chairman and CEO Robert Sanchez and Executive VP and CFO John Diez will lead the call. A replay of the webcast will be available in the Investors area of Ryder's website after the event.
Ryder System, Inc. (NYSE: R) celebrates three female leaders as recipients of the 2024 Women in Supply Chain awards from Supply & Demand Chain Executive and Food Logistics magazines. The awards recognize female supply chain leaders for their accomplishments, mentorship, and impact on the industry.
The honorees from Ryder include:
- Zully Jimenez (Rising Star category): Inventory supervisor known for excellence in customer account management and safety improvements.
- Kristy Killingbeck (Trailblazers category): Vice President of Supply Chain Operations with 25+ years of experience, instrumental in expanding Ryder's CPG transportation management portfolio.
- Lesley Kerr (Workforce Innovator category): Vice President of Human Resources, recognized for employee engagement initiatives and the successful launch of the Future Leaders Program.
These leaders exemplify Ryder's commitment to fostering a diverse and inclusive workforce, driving innovation and growth in the supply chain industry.
Ryder System, Inc. (NYSE: R) has been awarded two Quest for Quality 2024 awards in the third-party logistics (3PL) category by Logistics Management and Peerless Research Group. The company received top marks for carrier selection and negotiation, order fulfillment, and logistics information systems in both the 3PL transportation management and value-add warehousing and distribution services categories.
The awards, based on over 3,100 survey responses, serve as an industry benchmark for customer satisfaction and performance excellence. Ryder's President of Supply Chain Solutions, Steve Sensing, attributes this success to the company's culture of continuous improvement and its commitment to enhancing customers' supply chain and transportation networks.
Ryder has recently strengthened its market position through strategic acquisitions, including Cardinal Logistics for dedicated transportation and Impact Fulfillment Services (IFS) for contract packaging and manufacturing capabilities. The company continues to invest in logistics information systems like RyderShare™ to further improve its service offerings.
Ryder System, Inc. (NYSE: R) has announced that Executive Vice President & CFO John Diez will present a company update at the Morgan Stanley 12th Annual Laguna Conference. The event is scheduled for Wednesday, September 11, 2024, at 11:05 a.m. Pacific Time in Dana Point, California. Investors and interested parties can access the live webcast of the presentation through Ryder's investor relations website at http://investors.ryder.com. This presentation offers an opportunity for stakeholders to gain insights into Ryder's current operations and future strategies directly from a top executive.
Ryder System, Inc. (NYSE: R) has been named one of the Top 10 3PLs in the 2024 Readers' Choice Excellence Awards by Inbound Logistics for the third consecutive year. This recognition highlights Ryder's agility and innovation in the logistics industry. Over the past year, Ryder has:
- Acquired Cardinal Logistics, adding 200 operating locations, 2,900 power vehicles, and 3,400 professional drivers
- Acquired Impact Fulfillment Services (IFS), expanding into contract packaging and manufacturing
- Opened two multiclient logistics facilities in El Paso and Laredo, Texas, to support nearshoring activity
- Invested in innovative technologies like RyderShare™ and Baton
These strategic moves aim to enhance Ryder's supply chain solutions and help customers meet evolving logistics challenges.