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 launched an evolved version of its RyderShare™ technology platform, enhancing visibility and collaboration across the supply chain. This unique platform now includes warehouse management capabilities, allowing real-time tracking of goods from transportation to storage. By eliminating industry silos, RyderShare has facilitated nearly six million shipments, improving productivity, labor efficiency, and on-time delivery. Customers have reported up to 90% faster organizational response times and significant savings in labor efficiency, while having the opportunity to boost sales by up to 5% through access to real-time inventory data.
Ryder System, Inc. (NYSE: R) has announced a quarterly cash dividend of $0.58 per share, to be paid on March 18, 2022, to shareholders of record on February 22, 2022. This marks the company's 182nd consecutive quarterly dividend, demonstrating over 45 years of uninterrupted dividend payments. Ryder is recognized for its logistics and transportation solutions, managing nearly 235,000 vehicles and over 300 warehouses across multiple regions.
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Ryder System, Inc. (NYSE: R) has partnered with REIN to launch 'Insurance Services by REIN' for its used vehicle sales customers. This comprehensive embedded insurance offering aims to streamline the insurance process at the point of truck purchase, enhancing customer experience. With 58 Used Truck Centers across the U.S., Ryder provides a vast array of pre-owned commercial vehicles. The new insurance services will be available starting February 1, simplifying the often complex insurance selection for customers.
Ryder System, Inc. (NYSE: R) announced its upcoming fourth quarter 2021 earnings conference call scheduled for February 16, 2022, at 11:00 a.m. Eastern Time. Management, including Chairman and CEO Robert Sanchez and CFO John Diez, will review the financial results during the call, which will be accessible via a live webcast. Investors can also call in using the provided toll-free numbers. Ryder is recognized for its leadership in logistics and transportation solutions, managing over 235,000 vehicles and 300 warehouses across North America and the UK.
Ryder System, Inc. (NYSE: R) announced the redemption of all outstanding 2.80% medium-term notes due February 11, 2022, with a total principal amount of $300 million. Investors will receive a redemption price equal to 100% of the principal plus accrued interest from September 1, 2021, to the redemption date. Following the redemption, interest will cease on these notes. Investors are advised to contact their banks or brokers for redemption payment details.
Ryder System, Inc. (NYSE: R) has completed two strategic acquisitions: Whiplash for $480 million on January 1, 2022, and Midwest Warehouse & Distribution System, enhancing its supply chain solutions. These acquisitions are expected to generate approximately $615 million in combined gross revenue for 2022, bolstering Ryder's e-commerce fulfillment network and multi-client warehousing capabilities. Whiplash brings a robust technology platform and a customer base of over 250 brands, while Midwest adds nine multi-client warehouses. The transactions aim to drive shareholder value and align with Ryder's growth strategy.
Ryder System, Inc. (NYSE: R) has secured a $1.4 billion five-year global revolving credit facility, expiring on December 14, 2026, involving 11 global institutions. This move is aimed at enhancing Ryder's liquidity for working capital and other corporate needs. CFO John Diez emphasized the importance of this agreement for solidifying Ryder's financial position. The transaction was supported by major banks including BofA Securities and MUFG Bank, showcasing strong confidence from financial partners.
Ryder System, Inc. (NYSE: R) will participate in CES 2022 in Las Vegas from January 5-8, showcasing its innovative supply chain solutions. Chief Marketing Officer Karen Jones will be on a panel discussing supply chain challenges. Ryder's exhibit will highlight its e-commerce and omnichannel fulfillment capabilities, assuring deliveries across the U.S. within two days. Jones emphasized Ryder's focus on emerging technologies, including collaborations with autonomous trucking startups, to enhance logistics agility and efficiency.
Ryder System, Inc. (NYSE: R) announced its definitive agreement to acquire Whiplash for $480 million in cash. This strategic move aims to enhance Ryder's e-fulfillment network, adding Whiplash's 19 warehouses across nearly seven million square feet. The acquisition is projected to contribute approximately $480 million in gross revenue and incremental earnings growth in 2022. Completion is expected by late December 2021 or early January 2022, pending antitrust approvals.