Ryder System Inc

Latest Results (17.11.2025):

In the Third Quarter 2025, Ryder System Inc delivered solid financial results, showcasing growth in both GAAP and non‐GAAP earnings from continuing operations alongside stable revenue performance. The company posted GAAP EPS of $3.33 (a 2% increase YoY) and comparable non‐GAAP EPS of $3.57 (up 4% YoY), with total revenue remaining consistent at roughly $3.2 billion and a modest 1% increase in operating revenue. Segment details further highlighted strengths in Fleet Management and Supply Chain, counterbalanced by challenges in Dedicated Transportation, all supporting an optimistic full-year outlook.

Strong Earnings Growth

Ryder System Inc’s GAAP EPS from continuing operations increased to $3.33 and non‐GAAP EPS reached $3.57, reflecting solid improvements driven by higher contractual earnings and strategic share repurchases.

Segment Performance Analysis

In Fleet Management Solutions, earnings before tax (EBT) grew by 11% to $146 million, supported by enhanced pricing and cost-saving initiatives. Supply Chain Solutions saw revenue growth of 5% with operating revenue up 4%, though its EBT declined by 8% due to pressures from e-commerce network performance and increased medical costs. Meanwhile, Dedicated Transportation Solutions experienced a 10% decline in revenue tied to a reduced fleet, albeit with EBT remaining close to prior levels.

Operational and Financial Metrics

Total revenue held steady at about $3.2 billion while operating revenue edged up by 1%, demonstrating the effectiveness of Ryder’s strategic initiatives. Other notable highlights include a rise in the effective income tax rate to 27.1%, decreased capital expenditures, improved free cash flow from continuing operations, and an adjusted return on equity of 17%.

Optimistic Full-Year Outlook

Looking ahead to the full year 2025, Ryder System Inc forecasts continued earnings growth with full-year comparable non‐GAAP EPS expected between $12.85 and $13.05, operating revenue growth of 1%, and free cash flow in the range of $900 million to $1 billion. The recent authorization of a new two-million-share repurchase program further reinforces their commitment to value creation and financial discipline.