Ryder raises earnings outlook as fleet profitability and rental demand improve

Ryder ($R) reported third-quarter 2026 revenue of $3.43 billion, up 8%, while comparable earnings increased 21% to $4.33 per share. GAAP earnings from continuing operations rose 25% to $4.16 per share. Higher Fleet Management Solutions earnings and share repurchases supported the improvement, with growth across all business segments.

The logistics and vehicle-leasing group raised its full-year 2026 comparable earnings forecast to $14.85–$15.05 per share and its return-on-equity target to 18%–19%. Rental utilization improved to 77% from 70%, partly reflecting a smaller fleet, while used-tractor prices increased 19%. Ryder increased planned rental-fleet investment to $500 million from $200 million. Operating cash-flow guidance remained $2.6 billion and free-cash-flow guidance remained $700–$800 million, showing that the higher investment accompanies the stronger earnings outlook.

Sources:

• newsroom.ryder.com
• Issuer release via MarketScreener