Ryder System, Inc. · NYSE:R
Ryder System — Investor Day (June 2022)
124 slides from Ryder System's investor day presentation, Jun 3, 2022
Slide 1: Ryder 2022 Investor Day
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 1 Ryder 2022 Investor Day June 3 New York City Exhibit 99.2
Slide 2: Welcome & Opening Remarks
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Welcome & Opening Remarks 2 Bob Brunn SVP, Investor Relations & Corporate Strategy
Slide 3: Safe Harbor and Non-GAAP Financial Measures
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 3 Safe Harbor and Non-GAAP Financial Measures Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” unde
Slide 4: Today's Agenda
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Today’s Agenda 4 8:30 am Welcome and Opening Remarks Bob Brunn SVP, Investor Relations & Corporate Strategy Balanced Growth Strategy to Drive Long-term Shareholder Value Robert Sanchez Chairm
Slide 5: Balanced Growth Strategy to Drive Long-term Shareholder Value
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Balanced Growth Strategy to Drive Long-term Shareholder Value Robert Sanchez Chairman & CEO
Slide 6: Corporate Video: Man, Truck, and a Dream
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 6 Corporate Video: Man, Truck, and a Dream
Slide 7: Ryder: Behind the Scenes in Daily Life
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 7 Ryder: Behind the Scenes in Daily Life Day Begins Day Ends 7:00 am Wake Up 8:00 am Breakfast 8:30 am Drive to Work 9:00 am at the Office 12:00 pm Lunch 5:00 pm Drive Home 6:00 pm Dinner 7:0
Slide 8: Key Messages
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 8 Key Messages 1 Strong execution on balanced growth strategy and actions to improve returns 2 Significant opportunity for long-term profitable growth supported by secular trends, operational
Slide 9: Ryder Snapshot
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 1933 Founded 50,000+ Commercial Customers ~4.1B Market-cap1 239,000 Vehicles Managed 42,800 Employees ~750 Maintenance Locations 80M+ sq. ft. Warehouse Space2 $7B Freight Under Management 9 R
Slide 10: Complementary Business Segments
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Professional Services Transportation Management and Brokerage e-Commerce Fulfillment Last Mile Delivery (Big & Bulky) Drivers, Routing, Scheduling, and Administration Vehicle Financing, Suppo
Slide 11: Foundation for Business Transformation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 11 Foundation for Business Transformation Updated Vision and Values to Highlight Essential Nature of What We Do and the Longevity and Intimacy of our Customer Relationships V I S I O N M I S
Slide 12: $1.5T Addressable DIY Market Provides Significant Opportunity
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 12 $1.5T Addressable Do-It-Yourself (DIY) Market Provides Significant Opportunity Total Market Size Addressable Non-Outsourced (DIY) – Ryder’s Market Opportunity Currently Outsourced F L E E
Slide 13: Secular Trends Support Outsourcing Decision
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 13 Secular Trends Support Outsourcing Decision Well-positioned to Address Growing Challenges Facing Large, DIY Transportation and Logistics Market Dynamic Supply Chains Labor Constraints Incr
Slide 14: Balanced Growth Strategy to Create Shareholder Value
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 14 Balanced Growth Strategy to Create Shareholder Value Accelerated Growth in Higher-return SCS and DTS with Moderate Growth and Increased Returns in FMS E S T A B L I S H E D B A L A N C E D
Slide 15: De-risk and Optimize the Model
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 15 De-risk and Optimize the Model Actions Reducing Our Business Model Risk L O W E R R E S I D U A L V A L U E E S T I M A T E S • Estimates at historically low levels E N H A N C E D E X T E
Slide 16: Improve Returns and FCF
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 16 Improve Returns and FCF Actions Delivering Higher Quality Core Earnings and FCF I N C R E A S E L E A S E P R I C I N G • Spread increased from 60-100bps (pre-2019) to 100-150bps M O D E R
Slide 17: Drive Long-term Profitable Growth
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 17 Drive Long-term Profitable Growth Actions Expected to Deliver Long-term Shareholder Value 37% 39% 42% 44% 44% 45% 48% 53% 2015 2016 2017 2018 2019 2020 2021 2022F S C S / D T S % O F G R O
Slide 18: EverBetter World Campaign Continues in 2022
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS EverBetter World Campaign Continues in 2022 T V C A M P A I G N – 2 0 2 1 S I L V E R M I A M I A D D Y W I N N E R Q2 National Media Campaign ✓ National print in broad publications ✓ Digital
Slide 19: Expect to Deliver Record Results
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 19 Expect to Deliver Record Results Reflecting Strong Demand and Structural Changes Improvement in Returns, Higher Cash Flow, and Revenue Shift Toward SCS and DTS W H E R E W E W E R E 2 0 1
Slide 20: Positioned for Structurally Higher Earnings
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 20 Positioned for Structurally Higher Earnings Significantly Improved Core Earnings of the Business; Expect to Continue to Outperform Prior Cycles and Achieve Target Returns $9.25 $4.65 Midpo
Slide 21: Long-term Financial Model
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 21 Long-term Financial Model Business Positioned to Deliver Strong Returns through the Cycle ROE Long-term Average Over the Cycle Component drivers to achieve ROE target include: Operating Re
Slide 22: Sustainability Focus
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 22 Sustainability Focus • Achieved goal to reduce Scope 1 and Scope 2 emissions by 20% over a 2009 baseline ahead of schedule E N V I R O N M E N T A L • In 2020, established new goals to red
Slide 23: Accountable and Engaged Board of Directors
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 23 Accountable and Engaged Board of Directors – Expertise and Experience Support our Long-term Vision S K I L L S M A T R I X 91% 91% 82% 73% 55% 45% Financial & Accounting Branding / Strateg
Slide 24: Deep and Experienced Leadership Team
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 24 Deep and Experienced Leadership Team Driving Industry Change 220+ Years Combined Industry Experience Robert Sanchez Steve Sensing Steve Martin Tom Havens Karen Jones John Diez Chairman & C
Slide 25: SCS: Integrated Solutions to Serve Large and Growing Market
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS SCS: Integrated Solutions to Serve Large and Growing Market Add pic Steve Sensing President, Supply Chain Solutions & Dedicated Transportation Solutions
Slide 26: EverBetter Video Clip
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 26 EverBetter Video Clip
Slide 27: SCS Key Messages
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 27 SCS Key Messages 1 Leading provider of integrated logistics solutions from port to door across North America 2 Differentiated approach based on deep expertise of key industry verticals to
Slide 28: SCS Snapshot
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 28 SCS Snapshot P O R T T O D O O R I N T E G R A T E D S U P P L Y C H A I N S O L U T I O N S 1 Warehouse Management 40% Dedicated Transportation 33% e-Commerce Fulfillment / Last Mile Deli
Slide 29: Integrated Solutions from a Single Source
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS O U T S O U R C E D S E R V I C E S Warehouse Management • Single customer, multi-client, and cross-docking • Value-added services (kitting, packaging, retail-ready displays, labelling & tagg
Slide 30: Significant Market Opportunity Enabling Outsized Growth
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 30 Significant Market Opportunity Enabling Outsized Growth Strategic Focus on Further Penetrating Large, Non-outsourced Market $1.3T Warehouse & Truck-based Transportation Management Market $
Slide 31: Why We Win in SCS
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 31 Why We Win in SCS – Our Sustainable Competitive Advantages Enabling Technologies and Continuous Improvement • Visibility and IT capabilities • LEAN expertise • Engineering and automation e
Slide 32: SCS Strategic Initiatives
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 32 SCS Strategic Initiatives: Accelerate Growth with Innovative Solutions Grow the Base Business Enhance Vertical Diversification Expand e-Commerce / Ryder Last Mile Improve Margins • RyderSh
Slide 33: Leveraging Technology as Key Differentiator
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Leveraging Technology as Key Differentiator Combination of best-of-breed commercial off-the-shelf products with proprietary solutions to maximize customer value C O M M E R C I A L O F F - T
Slide 34: Ryder e-Commerce by Whiplash
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Order Fulfillment Value-added Services Reverse Logistics • Scalable, fast, and flexible pick, pack, and shipping solutions • National multi-mode parcel network and carrier optimization • Spec
Slide 35: Ryder Last Mile (RLM)
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 1. Over-the-Threshold 2. Room-of-Choice 3. White-Glove-Delivery 4. Deluxe Service Self-scheduling, 2-hr. delivery window, 2-man delivery, and returns #1 services + place in any room of the ho
Slide 36: Long-term Targets
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 36 Long-term Targets Expect to Return to HSD EBT% Target in 2H22; Well-positioned for Profitable Growth HSD EBT as % of Operating Revenue LDD Operating Revenue Growth Raising from HSD
Slide 37: Key Takeaways
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 37 Key Takeaways Leading provider of integrated logistics solutions from port to door across North America 1 Differentiated approach based on deep expertise of key industry verticals to serve
Slide 38: DTS: Capturing Profitable Growth with Differentiated Business Model
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS DTS: Capturing Profitable Growth with Differentiated Business Model Add pic Steve Martin SVP, Dedicated Transportation Solutions
Slide 39: DTS Key Messages
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 39 DTS Key Messages 1 Capturing significant growth and improved profitability through freight cycles 2 Driving operational efficiencies with improved safety and enhanced digitization 3 Focusi
Slide 40: DTS Snapshot
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 40 DTS Snapshot D E D I C A T E D T R A N S P O R T A T I O N S O L U T I O N S ChoiceLease Vehicles and Maintenance Professional Drivers Routing, Scheduling, Visibility, and Supervision Dedi
Slide 41: Strong Customer Retention and Expansion
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 41 Strong Customer Retention and Expansion with Significant Private Fleet Opportunity Diversified Portfolio Compromising 200+ Customers 2% 5% 11% 11% 14% 14% 21% 22% Other Energy Hi-tech & He
Slide 42: Significant Market Opportunity Enabling Outsized Growth
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 42 Significant Market Opportunity Enabling Outsized Growth Significant Growth Opportunity in Large, Highly Addressable DTS Market $800B Dedicated Transportation Market TAM $20B ~5% Currently
Slide 43: Why We Win – Sustainable Competitive Advantages
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Technology and Engineering • RyderShare visibility and collaboration platform • 100+ logistics engineers; optimized routing and scheduling • Digitized workstream and business intelligence pla
Slide 44: Drivers Why We Win Video
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 44 Drivers Why We Win Video
Slide 45: DTS Strategic Initiatives
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 45 DTS Strategic Initiatives: Accelerate Growth and Expand Margins Accelerate Top Line Growth • Sell across transportation and logistics cross-divisional portfolio • RyderShare visibility and
Slide 46: Sustaining Top Line Growth Over the Cycle
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 46 Sustaining Top Line Growth Over the Cycle Expanded Sales and Customer Touchpoints S E L L A C R O S S T R A N S P O R T A T I O N & L O G I S T I C S P O R T F O L I O • FMS / DTS private
Slide 47: Invest in Industry-leading Technologies
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 47 Invest in Industry-leading Technologies Continuing to Make Targeted Technology Investments to Further Strengthen Customer Value z D E V E L O P E D A N D L A U N C H E D E F F I C I E N C
Slide 48: Long-term Targets
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 48 Expect to Return to HSD EBT% Target in 2H22; Well-positioned for Profitable Growth HSD Operating Revenue Growth HSD EBT as % of Operating Revenue Long-term Targets
Slide 49: Key Takeaways
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 49 Key Takeaways Capturing significant growth and improved profitability through freight cycles 1 Driving operational efficiencies with improved safety and enhanced automation 2 Focusing on g
Slide 50: Q&A
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Q&A
Slide 51: Break
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Break ~10 Minutes
Slide 52: FMS: Optimize Portfolio While Maximizing Returns
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS FMS: Optimize Portfolio While Maximizing Returns Tom Havens President, Fleet Management Solutions
Slide 53: FMS Key Messages
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 53 FMS Key Messages 1 Well-positioned to capture share from secular trends driving higher outsourcing in large, addressable market 2 Enhancing returns through pricing initiatives and operatio
Slide 54: FMS Snapshot
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 54 FMS Snapshot F L E E T M A N A G E M E N T S O L U T I O N S Providing Outsourced Transportation Services and Operational Excellence across North America O P E R A T I N G R E V E N U E M
Slide 55: Diversified Customer Base and Fleet Composition
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS See appendix for source info 55 Diversified Customer Base and Fleet Composition Diversified Customer Base and Fleet Composition Mitigates Risk from Specific Customer or Segment 2 0 2 1 C O N
Slide 56: Significant Addressable Market Opportunity
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 56 Significant Addressable Market Opportunity Secular Trends Driving Opportunity to Convert DIY Segment to Outsourced Model $225B Total Commercial Vehicle Market $14B ~25% Currently Outsource
Slide 57: Why We Win – Sustainable Competitive Advantages
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 57 Why We Win – Sustainable Competitive Advantages Comprehensive Value Proposition to Capture Market Opportunity Flexible Products and Service • Custom service level options for ChoiceLease a
Slide 58: FMS Strategic Initiatives
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 58 FMS Strategic Initiatives: Targeting Higher Value Growth while Maximizing Returns Incorporate Segmentation and Pricing Actions Demonstrate Operational Excellence Enhance Asset Management I
Slide 59: Lease Pricing and Segmentation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS • Segmented pricing is improving returns across all vehicle types ‒ Rolled out new lease pricing segmentation in 2018; 40% of portfolio completed by YE 2021 ‒ Segmenting by application, risk
Slide 60: Enhanced Asset Management Playbook
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Demand > Supply Supply > Demand Strengthening Demand Weakening Demand 60 Enhanced Asset Management Playbook in Place • Drive profitable lease sales • Invest growth capital in truck segments f
Slide 61: Used Vehicle Sales: Retail Expansion and Digital Transformation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS • 63 retail centers (+12 vs. 2019) • ~20% incremental retail sales capacity Grow Retail Sales Locations • Inside sales team positioned to capture digital sales opportunity • ~30% incremental
Slide 62: Maintenance Operating Model Transformation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 62 Maintenance Operating Model Transformation Continuous Improvement Focus to Sustain and Improve Long-term Results M A I N T E N A N C E T R A N S F O R M A T I O N D R I V E N B Y PARTS PRO
Slide 63: Reliability Analytics Process: NOx Sensor Case Study
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 63 Reliability Analytics Process: NOx Sensor Case Study Ryder Reliability Analysis Lowers Costs and Provides Value to Both Customers and OEMs I D E N T I F I C A T I O N • NOx Sensors: Signif
Slide 64: Technology Driven Fleet Maintenance Video
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 64 Technology Driven Fleet Maintenance Video
Slide 65: Creating Customer Value through Our Technology
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 65 Creating Customer Value through Our Technology Providing Value for Customer Fleet Managers and Drivers Innovative Platform Enabling Customers to Manage All Aspects of Their Fleet Vehicle H
Slide 66: Structural Business Changes to Better Position FMS
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 66 Structural Business Changes to Better Position FMS to Achieve Targets Over the Cycle MSD Operating Revenue Growth Long-term Targets LDD EBT as % of Operating Revenue Raised from HSD in Feb
Slide 67: Key Takeaways
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 67 Key Takeaways Well-positioned to capture share from secular trends driving higher outsourcing in large, addressable market 1 Enhancing returns through pricing initiatives and operational e
Slide 68: At the Forefront of Innovation and Industry Disruption
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS At the Forefront of Innovation and Industry Disruption Karen Jones EVP & CMO
Slide 69: Key Messages
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 69 Key Messages 1 Deep expertise in transportation and logistics to remain at the forefront of industry disruption 2 Disciplined and strategic approach to new product development with signifi
Slide 70: Unprecedented Level of Disruption in Logistics Industry
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 70 Unprecedented Level of Disruption in Logistics Industry
Slide 71: Strategic Focus Areas for New Product Development
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 71 Strategic Focus Areas for New Product Development $1.2B Strategic Investments Over Last 4 Years (includes $875M of acquisitions) Strategic Approach to Disruption Investing in 4 Key Areas R
Slide 72: RyderShare Video
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 72 RyderShare Video
Slide 73: RyderShare Key Differentiator in Winning
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 73 RyderShare Key Differentiator in Winning ~35% of 2021 SCS/DTS New Sales – Momentum Expected to Continue Multiple data sources integrated into a single view to drive higher productivity, im
Slide 74: Customer Case Study: RyderShare Value Creation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 74 Customer Case Study: RyderShare Value Creation BEFORE 6 steps and hours of calling Hardware Retailer with 3,000+ Stores AFTER 1 step in real time – store employee has load information at t
Slide 75: Hill's Pet Food Success Story
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 75 Hill’s Pet Food Success Story • Network view to over 30,000+ delivery locations • Instant access to delivery information (location, status, etc.) drives down calls • 100+ corporate users s
Slide 76: Southern Glazer's Wine & Spirits Collaborative Supply Chain
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 76 Southern Glazer’s Wine & Spirits Collaborative Supply Chain Benefits of RyderShare: • SGWS sees inbound moves from all suppliers worldwide • Full visibility into Ryder TM carrier network •
Slide 77: Building for the Future
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 77 Building for the Future
Slide 78: Autonomy is a New Commercialization Opportunity
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 78 Autonomy is a New Commercialization Opportunity Uniquely Positioned for Leadership in Managing Autonomous Networks First / Final Segment Dedicated local fleets; ideal EV solution1 Autonomo
Slide 79: EV Market Penetration and Adoption
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 79 EV Market Penetration and Adoption U . S . M A R K E T E V P E N E T R A T I O N ( ‘ 0 0 0 ) 1 2023 2024 2025 9% 33%54% Ryder’s U.S. Fleet Mix2 ▪ Light Duty ▪ Medium Duty ▪ Heavy Duty 1 EV
Slide 80: COOP Video
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 80 COOP Video
Slide 81: Creating the Largest Peer-to-Peer Truck Sharing Company: COOP by Ryder
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Private Fleets Rental Companies Asset Investors Creating the Largest Peer-to-Peer Truck Sharing Company in America, Without Owning a Single Asset 81 Solving Critical Market Need through Asset
Slide 82: Key Takeaways
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 82 Key Takeaways Deep expertise in transportation and logistics to remain at the forefront of industry disruption 1 Disciplined and strategic approach to new product development with signific
Slide 83: Clear Financial Strategy to Deliver Enhanced Returns
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Clear Financial Strategy to Deliver Enhanced Returns Add pic R Y D E R 2 0 2 2 I N V E S T O R D A Y John Diez EVP & CFO
Slide 84: Financial Key Messages
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 84 Financial Key Messages 1 Strong execution resulting in record performance with plenty of runway ahead as a leader in attractive markets 2 Strategic structural changes in business model lea
Slide 85: Increasing 2022 Forecast
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 85 Increasing 2022 Forecast Robust Freight Environment, Balanced Growth Strategy, and Return Initiatives Driving Strong Results Operating Revenue Growth ~14% Comparable EPS $13.00 - $14.00 Up
Slide 86: Compelling Financial Performance with Further Runway
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS $5.45 $1.01 $(0.27) $9.58 ($1.00) $1.0 0 $3.0 0 $5.0 0 $7.0 0 $9.0 0 $11 .00 $13 .00 $15 .00 86 Compelling Financial Performance with Further Runway Positioned for Long-term Profitable Growth
Slide 87: A Fundamentally Transformed Business
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 87 A Fundamentally Transformed Business Structurally Positioned for Higher Returns Over the Cycle De-risked Model Residual value estimates at historically low levels Higher Returns Business M
Slide 88: Residual Value Estimates at Historically Low Levels
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 88 Residual Value Estimates at Historically Low Levels Achieve Target Returns with Reduced Reliance on Used Vehicle Proceeds R E S I D U A L V A L U E E S T I M A T E A C T I O N S T A K E N
Slide 89: Impact of Prior Residual Value Estimate Changes
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 89 Impact of Prior Residual Value Estimate Changes Despite Meaningful Increase to Ongoing Depreciation, FMS EBT% Improved from Return Initiatives $1.3 $1.5 $1.5 $1.5 $1.5 $0.1 $0.4 $0.5 $0.3
Slide 90: Earnings Expansion Delivers Attractive Return on Equity
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 90 Earnings Expansion Delivers Attractive Return on Equity ROE Expected to Benefit from Strength in FMS Returns and SCS / DTS Growth Acceleration E A R N I N G S L E V E R S • SCS / DTS margi
Slide 91: Structural Changes Have Significantly Improved Core Earnings
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 91 Structural Changes Have Significantly Improved Core Earnings Well-positioned for Structurally Higher Quality Earnings $5.95 E A R N I N G S D R I V E R S Actions Increasing Earnings Future
Slide 92: Positioned for Higher Earnings
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 92 Positioned for Higher Earnings Significantly Improved Core Earnings of the Business; Expect to Continue to Outperform Prior Cycles $9.25 $4.65 Midpoint1 $13.90 SCS / DTS Target Margins FMS
Slide 93: Higher Cash Flow Generation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS FCF SCENARIO No Lease Growth $0.8B Moderate Lease Growth $0.4B 93 Higher Cash Flow Generation $1.6 $2.1 $2.2 $2.2 $2.3 2014-18 Average 2019 2020 2021 2022F O P E R A T I N G C A S H F L O W (
Slide 94: Capital Allocation Focused on Shareholder Returns
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 94 Capital Allocation Focused on Shareholder Returns Disciplined Capital Allocation Drives Strong Value Creation • Base fleet reinvestment ‒ Replacement capital $1.9B - $2.2B, offset by used
Slide 95: M&A is Transforming and Strengthening Our SCS Business
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS U . S . C u s t o m e r s 95 M&A is Transforming and Strengthening Our SCS Business (Acquired 2021) (Acquired 2022) (Acquired 2018) P R E - T R A N S A C T I O N S ( 2 0 1 7 ) • Focused on wa
Slide 96: Balance Sheet Flexibility Enables Shareholder Value Creation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 96 Balance Sheet Flexibility Enables Shareholder Value Creation Strong Balance Sheet Positioned for Cycle and Strategic Capital Deployment C O M M E N T A R Y • Solid Investment Grade credit
Slide 97: Long-term Financial Model
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 97 Long-term Financial Model Business Positioned to Deliver Strong Returns through the Cycle ROE Long-term Average Over the Cycle Component drivers to achieve ROE target include: Operating Re
Slide 98: Key Takeaways for Enhancing Shareholder Value
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 98 Key Takeaways for Enhancing Shareholder Value Strong execution resulting in record performance with plenty of runway ahead as a leader in attractive markets 1 Strategic structural changes
Slide 99: Closing Remarks
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Closing Remarks Add pic Robert Sanchez Chairman & CEO
Slide 100: Why Invest in Ryder
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Why Invest in Ryder 100 1 Strong execution on balanced growth strategy and actions to improve returns 2 Significant opportunity for long-term profitable growth supported by secular trends, op
Slide 101: Q&A
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Q&A
Slide 102: Appendix
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Appendix
Slide 103: Non-GAAP Financial Measures
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 103 Non-GAAP Financial Measures This presentation includes “non-GAAP financial measures” as defined by SEC rules. As required by SEC rules, we provide a reconciliation of each non-GAAP financ
Slide 104: Reconciliation Revenue to Operating Revenue
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Reconciliation Revenue to Operating Revenue ($M) 104 TOTAL 2019 2020 2021 2022F Total Revenue $ 8,926 $ 8,420 $ 9,663 $ 11,300 Subcontracted Transportation and fuel (1,701) (1,372) (1,834) (2
Slide 105: Reconciliation of Forecast Revenue to Operating Revenue Growth
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Reconciliation of Forecast Revenue to Operating Revenue Growth ($M) 105 TOTAL Note: Amounts may not be additive due to rounding. 1 In the first quarter of 2020, we announced our plan to exit
Slide 106: Fleet Management Solutions (FMS)
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 106 Fleet Management Solutions (FMS) ($M) FULL YEAR NM - Not meaningful. Note: Amounts may not be additive due to rounding. 1 Non-GAAP financial measure. 2 In the first quarter of 2021, we co
Slide 107: Supply Chain Solutions (SCS)
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 107 Supply Chain Solutions (SCS) ($M) FULL YEAR Note: Amounts may not be additive due to rounding. 1 Non-GAAP financial measure. Revenue 2021 CPG & Retail $ 692.7 Automotive 240.1 Technology
Slide 108: Dedicated Transportation Solutions (DTS)
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 108 Dedicated Transportation Solutions (DTS) ($M) FULL YEAR Note: Amounts may not be additive due to rounding. 1 Non-GAAP financial measure. Revenue 2021 DTS Operating Revenue1 $ 1,054.9 Subc
Slide 109: Comparable Segment EBITDA
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 109 Comparable Segment EBITDA1 ($M) FULL YEAR Note: Amounts may not be additive due to rounding. 1 Excludes the impact of depreciation and gains on vehicles sold allocated to SCS and DTS. 2 N
Slide 110: Comparable EPS Reconciliation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 110 Comparable EPS Reconciliation Note: Amounts may not be additive due to rounding. 2014 2015 2016 2017 2018 2014-2018 Average EPS from continuing operations (GAAP) $ 4.14 $ 5.73 $ 4.95 $ 13
Slide 111: Comparable EPS Reconciliation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 111 Comparable EPS Reconciliation Note: Amounts may not be additive due to rounding. 2019 2020 2021 2022 Forecast as of 1Q22 Revised 2022 Forecast EPS from continuing operations (GAAP) $ (0.4
Slide 112: Comparable Core EPS Reconciliation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 112 Comparable Core EPS Reconciliation Note: Amounts may not be additive due to rounding. 2018 2022 Forecast EPS from continuing operations (GAAP) $ 5.43 $13.23 – 14.23 Non-operating pension
Slide 113: Adjusted Return on Equity Reconciliation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 113 Adjusted Return on Equity Reconciliation1 ($M) 2013 2014 2015 2016 2017 Net earnings $ 238 $ 218 $ 305 $ 263 $ 720 Other items impacting comparability, net5 — 115 18 13 24 Income taxes2 1
Slide 114: Adjusted Return on Equity Reconciliation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 114 Adjusted Return on Equity Reconciliation1 ($M) Note: Amounts may not be additive due to rounding. 1 Non-GAAP elements of this calculation have been reconciled to the corresponding GAAP me
Slide 115: Adjusted Return on Equity Reconciliation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 115 Adjusted Return on Equity Reconciliation1 ($M) Note: Amounts may not be additive due to rounding. 2022 Forecast as of 1Q22 Revised 2022 Forecast Net earnings $ 670 $ 705 Other items impac
Slide 116: Cash Flow Reconciliation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 116 Cash Flow Reconciliation ($M) Note: Amounts may not be additive due to rounding. Included in cash flows from investing activities. 1 Included in cash flows from investing activities. 2 Ca
Slide 117: Cash Flow Reconciliation
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS 117 Cash Flow Reconciliation ($M) 2021 2022 Forecast as of 1Q22 2022 Forecast Net Cash Provided by Operating Activities from Continuing Operations $ 2,175 $ 2,300 $ 2,300 Proceeds from Sales
Slide 118: Speaker Bios
SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Speaker Bios
Slide 119: Speaker Bios: Robert Sanchez
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Speaker Bios Robert Sanchez is chairman and chief executive officer of Ryder System, Inc. (NYSE: R), a leading commercial fleet management, dedicated transportation, and supply chain solution
Slide 120: Speaker Bios: Steve Sensing
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Speaker Bios Steve Sensing is President of Global Supply Chain Solutions (SCS) and Dedicated Transportation Solutions (DTS) at Ryder System, Inc., a leading commercial fleet management, dedic
Slide 121: Speaker Bios: Steve Martin
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Speaker Bios Steve Martin is Senior Vice President of Dedicated Transportation Solutions (DTS) for Ryder System, Inc., a leading commercial fleet management, dedicated transportation, and sup
Slide 122: Speaker Bios: Tom Havens
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Speaker Bios Tom Havens is president of Fleet Management Solutions (FMS) for Ryder System, Inc., a leading commercial fleet management, dedicated transportation, and supply chain solutions co
Slide 123: Speaker Bios: Karen Jones
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Speaker Bios Karen Jones is executive vice president, chief marketing officer (CMO), and head of new product development for Ryder System, Inc., a leading supply chain, dedicated transportati
Slide 124: Speaker Bios: John Diez
R Y D E R 2 0 2 2 I N V E S T O R D A Y SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS Speaker Bios John Diez is executive vice president and chief financial officer for Ryder System, Inc., a leading commercial fleet management, dedicated transportation, and supply chain soluti