Ryder Reports First Quarter 2026 Results

About this update from Ryder System, Inc.

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"We are raising our EPS forecast range to reflect stronger than expected first-quarter performance and our expectations for modest improvement in used vehicle market conditions.","length":400,"tagName":"p"},{"type":"text","content":""Free cash flow is expected to remain strong in 2026, and we expect our capital deployment capacity to continue to enable us to support profitable growth while returning capital to shareholders through share repurchases and dividends."","length":245,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":" Full Year 2026 Outlook ","length":22,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Total Revenue Growth","length":20,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"3%","length":2,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Operating Revenue Growth (non-GAAP)","length":35,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"3%","length":2,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"FY26 GAAP EPS","length":13,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"$13.15 - $13.90","length":15,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"FY26 Comparable EPS (non-GAAP)","length":30,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"$14.05 - $14.80","length":15,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"ROE (non-GAAP)","length":14,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"17% - 18%","length":9,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Net Cash from Operating Activities from Continuing Operations","length":61,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"$2.7B","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Free Cash Flow (non-GAAP)","length":25,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"$700M - $800M","length":13,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Capital Expenditures","length":20,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"$2.4B","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Debt-to-Equity","length":14,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;padding-right:0.0px;vertical-align:bottom;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"230%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":" Second Quarter 2026 ","length":19,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"2Q26 GAAP EPS","length":13,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"$3.15 - $3.40","length":13,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"2Q26 Comparable EPS (non-GAAP)","length":30,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;text-align:center;list-style-position:inside;width:34%;","val":[{"type":"text","content":"$3.50 - $3.75","length":13,"tagName":"p","attribs":{}}]}]}],"length":442},{"type":"text","content":" Supplemental Company Information ","length":32,"tagName":"p","attribs":{}},{"type":"text","content":" Business Description ","length":20,"tagName":"p"},{"type":"text","content":"Ryder System, Inc. is a leading supply chain, dedicated transportation, and fleet management solutions company. Ryder's stock (NYSE: R) is a component of the Dow Jones Transportation Average and the S&P MidCap 400 ® index. The company's financial performance is reported in the following three, inter-related business segments:","length":338,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":" Supply Chain Solutions – Ryder's SCS business segment optimizes logistics networks to make them more responsive and able to be leveraged as a competitive advantage. Globally-recognized brands in the automotive, consumer goods, food and beverage, healthcare, industrial, oil and gas, technology, and retail industries rely on Ryder's leading-edge technologies and world-class logistics engineers to help them deliver the goods that consumers use every day.","length":463,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Dedicated Transportation Solutions – Ryder's DTS business segment combines the best of Ryder's leasing and maintenance capabilities with the safest and most professional drivers in the industry. With a dedicated transportation solution, Ryder helps customers increase their competitive position, reduce risk, and integrate their transportation needs with their overall supply chain.","length":390,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Fleet Management Solutions – Ryder's FMS business segment provides a broad range of services to help businesses of all sizes, across virtually every industry, deliver for their customers. From leasing, maintenance, and fueling, to rental and used vehicle sales, customers rely on Ryder's expertise to help them lower their costs, redirect capital to other parts of their business, and focus on what they do best – so they can grow.","length":439,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":1292,"olType":false},{"type":"text","content":"For more information on Ryder System, Inc., visit investors.ryder.com and ryder.com .","length":84,"tagName":"p"},{"type":"text","content":" Note: Regarding Forward-Looking Statements ","length":42,"tagName":"p"},{"type":"text","content":" Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding: our forecast and outlook; market conditions, including macroeconomic uncertainty and geopolitical events; rental demand and utilization; used vehicle sales volume and pricing; the freight cycle, including the impact of the prolonged downturn, cycle timing and the pace and strength of any recovery; expected financial performance, including total and operating revenue, EPS and comparable EPS, adjusted ROE, earnings before income tax, net cash provided by operating activities from continuing operations, free cash flow, capital expenditures, debt-to-equity, and the underlying drivers of change; expectations regarding continued execution of our business model; pricing actions and maintenance cost savings initiatives; long-term growth opportunities and secular growth trends; used vehicle inventory levels and fleet size; growth and continued strong earnings performance in our contractual businesses; the omnichannel retail network; our capital deployment capacity; our ability to increase returns and create long-term value; and our ability to return capital to shareholders, including through share repurchases and dividends. Our forward-looking statements also include estimates regarding the impact of residual value assumptions on earnings and depreciation expense. These estimates are based, in part, on our current assessment of the residual values and useful lives of revenue-earning equipment informed by multi-year trends and our outlook for near- and long-term used vehicle market conditions. A variety of factors, many of which are outside of our control, could cause residual value estimates to differ from actual used vehicle sales pricing, such as changes in supply and demand of used vehicles; volatility in market conditions; changes in vehicle technology; competitor pricing; regulatory requirements, including changes to taxes or tariffs; driver shortages; customer requirements and preferences; and changes in underlying assumption factors. ","length":2227,"tagName":"p"},{"type":"text","content":" All of our forward-looking statements should be evaluated by considering the many risks and uncertaint...

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