Ryder Sys Stock Price, News & Analysis

Ryder System, Inc. (NYSE: R) is set to open its tenth multiclient distribution center in North Aurora, Illinois, in early January. This facility spans nearly 550,000 square feet, primarily catering to shippers of consumer-packaged goods, including food, beverage, and health products. The new center offers significant logistical advantages with a strategic location close to a dense labor force and access to essential infrastructure. Ryder plans to recruit around 100 positions and utilizes advanced visibility technology to streamline operations. The company currently serves nine of the top ten U.S. food and beverage firms.

Ryder System, Inc. (NYSE: R) will showcase its newly expanded e-commerce and omnichannel fulfillment solution at CES® 2023. Attendees can experience an interactive journey of an e-commerce order, from online purchase to delivery. Ryder aims to demonstrate how its logistics capabilities enhance speed, scalability, and brand experience. The company also recently acquired Dotcom Distribution and Whiplash, boosting its fulfillment services for e-commerce brands. Ryder's solution offers delivery to 100% of the U.S. within two days and 60% within one day.

Ryder System, Inc. (NYSE: R) has been recognized as one of Food Logistics' Top Software and Technology Providers for 2022, marking its ninth consecutive year on the list. This recognition highlights Ryder's commitment to ensuring a safe and efficient global cold food and beverage supply chain. The award focuses on companies that implement emerging technologies, including IoT and food safety management. Ryder's innovative platform, RyderShare^TM, offers end-to-end visibility and collaboration in supply chain management, catering to the critical needs of food and beverage logistics.

Ryder System has appointed Charles M. “Chuck” Swoboda to its board of directors, effective December 12, 2022. Swoboda's notable leadership experience includes his tenure as CEO of Cree, Inc. (now Wolfspeed, Inc.), where he grew revenues from $177 million to over $1.6 billion. His expertise in innovation and financial management is expected to enhance Ryder's strategic vision. The board size will increase to twelve to accommodate this appointment, aiming to leverage Swoboda's skills in governance and audit committees.

Ryder System, Inc. (NYSE: R) announces the retirement of Bob Brunn, senior vice president of investor relations, effective December 31, 2022. Mr. Brunn, who has been with Ryder for 35 years, has led the investor relations function for the past 18 years. Calene Candela, a 30-year veteran of the company, will succeed him as vice president of investor relations starting January 1, 2023. Candela has held various financial roles and is poised to continue Ryder’s commitment to transparency in financial communications.

Ryder System, Inc. (NYSE: R) has launched a new drop-and-hook trailer service to enhance its freight brokerage business. This service utilizes COOP by Ryder, a peer-to-peer truck and trailer-sharing platform, providing customers access to over 6,000 trailers across the U.S. The service aims to address the current capacity shortage, offering shippers increased flexibility and efficiency while allowing vehicle owners to generate additional revenue. The platform has already shown success, with APL Cargo earning significant revenue from trailer rentals.

Ryder System, Inc. (NYSE: R) has been awarded the Miami Inno Fire Award by The South Florida Business Journal for its innovative peer-to-peer truck sharing platform, COOP by Ryder. This program connects fleet owners with businesses needing rental vehicles, achieving 250% year-over-year growth and support from over 14,000 businesses. The award highlights companies reshaping the innovation ecosystem in South Florida.

COOP has expanded nationwide and introduced multiple platform enhancements since its 2018 launch.

Ryder System, Inc. (NYSE: R) has announced a record contribution of $1 million to the United Way for 2022, marking a significant milestone in its 40-year partnership. The annual workplace campaign, titled “Building a Stronger Community, Together,” witnessed increased employee participation and was conducted virtually for over 42,000 employees. The funds will support local communities focusing on health, education, and financial stability. Ryder's Chairman and CEO, Robert Sanchez, praised the efforts of employees in demonstrating a strong spirit of giving.