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, Inc. (NYSE: R) has acquired Baton, a San Francisco-based start-up specializing in logistics technology. The deal, finalized on August 31, follows Ryder's investment in Baton through its corporate venture fund, RyderVentures. The acquisition aims to enhance Ryder's supply chain and transportation solutions by integrating Baton’s innovative logistics technology and its core development team. Co-founders Andrew Berberick and Nate Robert will take leadership roles at Ryder, focusing on advancing technology-driven customer solutions.
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Ryder System, Inc. (NYSE: R) has been recognized by Food Logistics as one of the Top Third-Party Logistics & Cold Storage Providers for 2022, marking its 10th consecutive year on the list. This accolade showcases Ryder's commitment to operational excellence and customer satisfaction amid significant supply chain challenges. The company has enhanced its RyderShareTM technology to include a warehouse management solution, ensuring end-to-end visibility for clients. Additionally, Ryder expanded its e-fulfillment network, reinforcing its position in the food and beverage industry.
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Ryder System, Inc. (NYSE: R) has awarded Chris Johnson of Annacis Island, British Columbia, a grand prize of $50,000 as the 2022 Ryder Top Technician. The competition showcased elite technicians from the U.S. and Canada, testing their commercial vehicle maintenance skills. The event in Milwaukee featured rigorous challenges, including electronic diagnostics and preventive maintenance. Ryder emphasized the importance of skilled technicians amidst a growing industry shortage. Johnson's win highlights Ryder's commitment to excellence in service and technical training.
RingCentral (NYSE: RNG) has partnered with Ryder System (NYSE: R) to enhance business communications across Ryder's nearly 800 fleet maintenance and rental locations. Utilizing RingCentral MVP™ for unified operations, Ryder has improved customer service and operational efficiency. The rollout has also led to the deployment of RingCentral Contact Center™ for Ryder Last Mile, enabling seamless support for home delivery services. This collaboration highlights efforts in digital transformation, with acknowledged benefits in employee productivity and customer satisfaction.
Ryder System reported a strong Q2 2022, achieving a GAAP EPS of $4.72, up from $2.78 YoY, driven by Fleet Management Solutions (FMS) and Supply Chain Solutions (SCS). Total revenue reached $3 billion, a 27% increase, and operating revenue increased by 20% to $2.3 billion. The company raised its full-year GAAP EPS forecast to $14.45 - $14.95. Ryder also announced a 7% dividend increase and plans to complete a $300 million share repurchase program. Strong cash flow and improved operational performance position Ryder well for future growth.
Ryder System, Inc. (NYSE: R) has been recognized as a "Green Supply Chain Partner" for the 14th consecutive year by Inbound Logistics. This award highlights Ryder's commitment to sustainability and efficiency in its logistics services. The company has made significant investments in technologies like RyderShare™ to enhance supply chain visibility and reduce environmental impact. Strategies employed include utilizing solar energy in warehouses and recycling automotive waste. Ryder aims for continuous improvement while maintaining strong recognition in environmental practices.
The Board of Directors of Ryder System, Inc. (NYSE: R) has declared a quarterly cash dividend of $0.62 per share, an increase of $0.04 from the prior dividend of $0.58. This dividend will be paid on September 16, 2022, to shareholders of record by August 22, 2022. This marks Ryder's 184th consecutive quarterly cash dividend, demonstrating over 46 years of continuous dividend payments.
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