Ryder Sys Stock Price, News & Analysis

Ryder System, Inc. (NYSE: R) reported its Q3 2020 financial results, showing a recovery from previous year losses. Key highlights include earnings before taxes of $54.8 million, compared to a loss of $91.3 million in 2019, and a diluted EPS of $0.85 versus a loss of $1.75 last year. Total revenue declined by 3% to $2.15 billion, with notable performance in Supply Chain Solutions, which rose by 11%. The company anticipates record free cash flow of $1.4 to $1.5 billion for 2020, alongside a resumption of its share repurchase program. CEO Robert Sanchez emphasized the improvements in used vehicle sales and rental markets amidst COVID-19 challenges.

Ryder System, Inc. (NYSE: R) has launched RyderVentures, a new corporate venture capital fund aimed at investing $50 million over five years. The fund will focus on start-ups innovating in logistics and transportation technology amidst growing e-commerce demands. Ryder aims to leverage its extensive industry experience and customer base to expedite the development of solutions that address customer challenges. Through partnerships with start-ups, Ryder seeks to enhance its capabilities in automation, data analytics, and next-generation vehicles.

Ryder System, Inc. (NYSE: R) has launched a touchless check-in process for drivers across nearly 800 maintenance locations in North America. This initiative enhances safety during the pandemic by minimizing in-person contact. The RyderGyde mobile tool utilizes geo-location technology, allowing drivers to check in through QR codes with minimal interaction. This innovation aims to improve both driver safety and operational efficiency, aligning with Ryder's commitment to customer service and health-focused experiences.

Ryder System, Inc. (NYSE: R) has launched a new mobile-friendly used vehicle sales website, ryder.com/used-trucks, featuring expanded inventory and enhanced search tools to improve customer access to pre-owned vehicles. The site integrates inventory from 156 additional Ryder rental and maintenance facilities, allowing for a seamless online and physical shopping experience. Ryder has also opened several new used vehicle sales centers in key markets and plans further expansions, enhancing its presence in North America’s used vehicle market.

The law firm Shuman, Glenn & Stecker is investigating potential shareholder claims against Ryder System, Inc. (NYSE: R). This follows a class action lawsuit filed on May 20, 2020, alleging that Ryder's senior officers inflated truck residual values to manipulate financial statements and mislead investors. Significant reductions to residual values led to a $357 million depreciation expense for 2019, resulting in a stock price drop of 23% after the announcement. Investors with claims or information are encouraged to contact Brett Stecker.

The COVID-19 pandemic has significantly transformed supply chains, pushing for greater agility and integration. According to researchers from the University of Tennessee, Knoxville's Haslam College of Business, organizations adopting regionalized and responsive supply chains gain competitive advantages. Innovations in transportation and logistics are highlighted, driven by technology, hyper-localization, and automation. The new normal includes reliable and flexible logistics solutions to meet evolving consumer demands. Ryder System, a key industry player, emphasizes adapting to these rapid changes for future success.

The Board of Directors of Ryder System (NYSE: R) has declared a regular quarterly cash dividend of $0.56 per share, payable on December 18, 2020, to shareholders of record on November 23, 2020. This marks the 177th consecutive quarterly cash dividend, showcasing over 44 years of uninterrupted payments. Ryder is a leader in supply chain, dedicated transportation, and fleet management solutions, managing over 250,000 vehicles and operating more than 300 warehouses.

Ryder System, Inc. (NYSE: R) announced its third quarter 2020 earnings conference call, scheduled for October 28, 2020, at 11:00 a.m. Eastern Time. The call will be led by Chairman and CEO Robert Sanchez and CFO Scott Parker, during which they will discuss the company's financial results. Investors and interested parties can participate via a live webcast, and a replay will be available afterward. Ryder is recognized for its logistics and transportation services, managing over 250,000 commercial vehicles and more than 300 warehouses.

Ike, a developer of automated trucking technology, has launched its "Powered by Ike" customer program, partnering with Ryder System (NYSE: R), DHL, and NFI. These companies will be among the first to deploy Level 4 automated trucks, having reserved 1,000 Class 8 tractors. Ike's innovative model provides technology to existing fleet operators through a subscription service, enhancing logistics efficiency and creating new job opportunities. The firm's approach aims to make trucking safer and more productive, and it has raised over $52 million from investors.