PART I. FINANCIAL INFORMATION This section presents the company's financial statements, management's discussion and analysis, market risk disclosures, and controls and procedures [Financial Statements](index=3&type=section&id=ITEM%201.%20Financial%20Statements) Ryder System, Inc. reported increased revenue and net earnings for Q2 and YTD 2025, with significant growth in operating cash flow Condensed Consolidated Statements of Earnings Highlights | Metric (In millions, except EPS) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $3,189 | $3,182 | $6,319 | $6,279 | | **Earnings from continuing operations** | $132 | $126 | $230 | $212 | | **Net Earnings** | $131 | $127 | $228 | $212 | | **Diluted EPS (Continuing operations)** | $3.15 | $2.83 | $5.42 | $4.72 | | **Diluted EPS (Net earnings)** | $3.13 | $2.84 | $5.39 | $4.73 | Condensed Consolidated Balance Sheets Highlights | Metric (In millions) | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $2,340 | $2,463 | | **Total Assets** | $16,470 | $16,672 | | **Total Current Liabilities** | $2,869 | $3,271 | | **Total Liabilities** | $13,396 | $13,555 | | **Total Shareholders' Equity** | $3,074 | $3,117 | Condensed Consolidated Statements of Cash Flows Highlights | Metric (In millions) | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $1,403 | $1,078 | | **Net cash used in investing activities** | $(943) | $(1,305) | | **Net cash (used in) provided by financing activities** | $(444) | $194 | | **Increase (decrease) in Cash and cash equivalents** | $26 | $(40) | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section details segment performance, revenue disaggregation, debt structure, and share repurchase activities - The company reports financial performance across three business segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS)[26](index=26&type=chunk) Segment Earnings Before Taxes (EBT) | Segment (In millions) | Q2 2025 EBT | Q2 2024 EBT | YTD 2025 EBT | YTD 2024 EBT | | :--- | :--- | :--- | :--- | :--- | | **Fleet Management Solutions (FMS)** | $126 | $133 | $220 | $233 | | **Supply Chain Solutions (SCS)** | $99 | $85 | $186 | $149 | | **Dedicated Transportation Solutions (DTS)** | $37 | $37 | $64 | $55 | FMS Revenue by Product Line | Product Line (In millions) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | **ChoiceLease** | $871 | $856 | $1,738 | $1,698 | | **Commercial rental** | $239 | $244 | $458 | $475 | | **Fuel services revenue** | $179 | $202 | $366 | $406 | Share Repurchases | Program (In millions) | Q2 2025 Shares | Q2 2025 Amount | YTD 2025 Shares | YTD 2025 Amount | | :--- | :--- | :--- | :--- | :--- | | **2023 Anti-Dilutive Program** | 0.1 | $14 | 0.4 | $68 | | **October 2024 Discretionary Program** | 0.6 | $79 | 1.3 | $192 | | **Total** | **0.6** | **$94** | **1.7** | **$261** | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=25&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A details strong contractual portfolio performance, 11% diluted EPS growth, and a substantial increase in free cash flow - The company's contractual portfolio and strategic initiatives helped mitigate the impact of weak market conditions on used vehicle sales and commercial rental demand during the first half of 2025[82](index=82&type=chunk) Selected Financial Highlights (Q2 2025) | Metric | Q2 2025 | Change vs Q2 2024 | | :--- | :--- | :--- | | **Diluted EPS from continuing operations** | $3.15 | +11% | | **Comparable EPS (non-GAAP)** | $3.32 | +11% | | **Total revenue** | $3.2 billion | 0% | | **Operating revenue (non-GAAP)** | $2.6 billion | +2% | Free Cash Flow (non-GAAP) | Metric (In millions) | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $1,403 | $1,078 | | **Total cash generated** | $1,664 | $1,395 | | **Purchases of property and equipment** | $(1,203) | $(1,324) | | **Free cash flow** | $461 | $71 | - The recently enacted One Big Beautiful Bill Act (OBBBA) is expected to reduce the company's U.S. federal cash tax liability by approximately **$200 million** in 2025 and defer federal tax payments for several years[145](index=145&type=chunk) [Consolidated Results of Operations](index=27&type=section&id=Consolidated%20Results%20of%20Operations) Consolidated results show flat total revenue, improved gross margins, and a decline in used vehicle sales due to weaker market conditions Gross Margin by Revenue Type (Q2 2025 vs Q2 2024) | Revenue Type (In millions) | Q2 2025 Gross Margin | Q2 2024 Gross Margin | Change | | :--- | :--- | :--- | :--- | | **Services** | $331 | $321 | +3% | | **Lease & Related Maintenance and Rental** | $325 | $304 | +7% | | **Fuel Services** | $6 | $4 | +50% | - Used vehicle sales, net, decreased to **$2 million** in Q2 2025 from a net gain of **$19 million** in Q2 2024, reflecting weaker market conditions and higher wholesale volumes to manage aged inventory[102](index=102&type=chunk) Average Used Vehicle Pricing Change (2025 vs 2024) | Vehicle Type | Q2 Change | YTD Change | | :--- | :--- | :--- | | **Tractors** | (17)% | (16)% | | **Trucks** | (17)% | (18)% | [Operating Results by Business Segment](index=31&type=section&id=Operating%20Results%20by%20Business%20Segment) Segment performance varied in Q2 2025, with FMS EBT declining, SCS EBT growing, and DTS EBT remaining flat - **FMS:** EBT decreased **6%** in Q2 2025, driven by lower used vehicle sales results, which were partially offset by higher ChoiceLease results from pricing and maintenance cost savings initiatives[122](index=122&type=chunk) - **SCS:** EBT increased **16%** in Q2 2025, reflecting operating revenue growth and improved performance from the optimization of the omnichannel retail network[131](index=131&type=chunk) - **DTS:** EBT was flat in Q2 2025, as acquisition synergies and prior year integration costs were offset by lower operating revenue due to a reduced fleet count reflecting the freight market downturn[133](index=133&type=chunk)[134](index=134&type=chunk) Segment EBT Performance (Q2 2025 vs Q2 2024) | Segment (In millions) | Q2 2025 EBT | Q2 2024 EBT | Change | | :--- | :--- | :--- | :--- | | **Fleet Management Solutions** | $126 | $133 | (6)% | | **Supply Chain Solutions** | $99 | $85 | 16% | | **Dedicated Transportation Solutions** | $37 | $37 | 1% | [Financial Resources and Liquidity](index=36&type=section&id=Financial%20Resources%20and%20Liquidity) Liquidity strengthened in H1 2025 with increased operating cash flow, higher free cash flow, and an expanded credit facility - Net cash provided by operating activities increased to **$1.4 billion** for the first six months of 2025, up from **$1.1 billion** in the prior year, primarily due to lower income tax payments and timing of vendor payments[138](index=138&type=chunk) - In April 2025, the company amended its corporate revolving credit facility, increasing its borrowing capacity to **$1.6 billion** and extending the expiration to April 2030[63](index=63&type=chunk)[148](index=148&type=chunk)[149](index=149&type=chunk) - The company's debt-to-equity ratio was **251%** as of June 30, 2025, consistent with **250%** at year-end 2024[153](index=153&type=chunk) - In July 2025, the board of directors declared a quarterly cash dividend of **$0.91 per share**, a **12%** increase from the prior year[154](index=154&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=47&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to market risk exposures have occurred since year-end 2024 - There have been no material changes to Ryder's exposures to market risks since December 31, 2024[174](index=174&type=chunk) [Controls and Procedures](index=48&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective, with no material changes to internal control over financial reporting - The CEO and CFO concluded that as of the end of Q2 2025, Ryder's disclosure controls and procedures were effective[177](index=177&type=chunk) - There were no changes in Ryder's internal control over financial reporting during Q2 2025 that have materially affected, or are reasonably likely to materially affect, such controls[178](index=178&type=chunk) PART II. OTHER INFORMATION This section covers legal proceedings, risk factors, equity security sales, and other relevant information [Legal Proceedings](index=48&type=section&id=ITEM%201.%20Legal%20Proceedings) The company refers to Note 14 for details on material pending legal proceedings - For details on material pending legal proceedings, the company directs readers to Note 14 of the Condensed Consolidated Financial Statements[180](index=180&type=chunk) [Risk Factors](index=48&type=section&id=ITEM%201A.%20Risk%20Factors) No material changes to risk factors have occurred since the 2024 Annual Report on Form 10-K - There have been no material changes in the risk factors from those disclosed in the Form 10-K for the year ended December 31, 2024[182](index=182&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 646,953 common shares in Q2 2025 under discretionary and anti-dilutive programs Common Stock Repurchases (Q2 2025) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | **April 2025** | 340,061 | $139.57 | | **May 2025** | 305,513 | $150.80 | | **June 2025** | 1,379 | $151.24 | | **Total Q2** | **646,953** | **$144.90** | [Other Information](index=49&type=section&id=ITEM%205.%20Other%20Information) Officers and directors participate in company stock plans, with transactions potentially under Rule 10b5-1 trading plans - Certain officers and directors participate in company stock plans, and their transactions may be executed under Rule 10b5-1 trading plans or other arrangements[185](index=185&type=chunk) [Exhibits](index=50&type=section&id=ITEM%206.%20Exhibits) This section lists exhibits filed, including CEO/CFO certifications and XBRL data files - The exhibits filed with this report include certifications from the CEO and CFO pursuant to SEC rules, as well as XBRL data files[187](index=187&type=chunk)

Financial Data and Key Metrics Changes - The company reported operating revenue of $2.6 billion in the second quarter, up 2% from the prior year, primarily due to contractual revenue growth in Supply Chain Solutions (SCS) and Fleet Management Solutions (FMS) [14] - Comparable earnings per share from continuing operations were $3.32, an 11% increase from $3 in the prior year, reflecting higher contractual earnings and share repurchases [14] - Return on equity (ROE) was 17%, up from the prior year, primarily due to higher contractual earnings [15] - Year-to-date free cash flow increased to $461 million from $71 million in the prior year, reflecting lower working capital needs and reduced capital expenditures [15] Business Line Data and Key Metrics Changes - **Fleet Management Solutions (FMS)**: Operating revenue increased by 1%, driven by ChoiceLease revenue, which was up 2%. However, pretax earnings in fleet management were $126 million, down year-over-year due to weaker freight market conditions [16] - **Supply Chain Solutions (SCS)**: Operating revenue increased by 3%, driven by new business and higher customer volumes and pricing. Earnings increased by 16% from the prior year, reflecting operating revenue growth and improved performance from initiatives [21] - **Dedicated Transportation Solutions (DTS)**: Operating revenue decreased by 3% due to lower fleet count, but EBT increased by 1% year-over-year, reflecting acquisition synergies [22] Market Data and Key Metrics Changes - The company expects its transformed business model to continue outperforming prior cycles, with 60% of 2025 revenue expected to come from asset-light businesses compared to 44% in 2018 [12] - Used vehicle sales results were negatively impacted by increased wholesale volumes to manage aged inventory, with used tractor and truck pricing both declining 17% year-over-year [18] Company Strategy and Development Direction - The company is focused on executing its balanced growth strategy, which includes organic growth, strategic acquisitions, and innovative technology [12] - The company announced a 12% annualized increase to its quarterly dividend, reflecting higher profitability and improved returns over the cycle [10] - The company aims to leverage the momentum of its transformed business model to support profitable growth and return capital to shareholders [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current freight downturn and highlighted strong sales and pipeline activity in SCS [30] - The company revised its full-year 2025 comparable EPS forecast to a range of $12.85 to $13.30, reflecting higher contractual earnings and benefits from strategic initiatives [30] - Management noted that while sales pipelines remain strong, prolonged freight downturn and economic uncertainty continue to cause some customers to delay decisions [30] Other Important Information - The company expects to generate approximately $3.5 billion of incremental debt capacity over the next three years, resulting in $14 billion available for capital deployment [28] - The company has repurchased approximately 21% of its shares outstanding since 2021 and increased the quarterly dividend by 57% [10] Q&A Session Summary Question: Confidence in deploying dry powder on the balance sheet - Management feels confident about deploying capital for share repurchase programs and acquisitions, indicating a balanced approach to capital allocation [41][42] Question: Used vehicle pricing expectations - Management expects tractor pricing to continue to increase, with a steady upward trend anticipated, especially in the fourth quarter [44][45] Question: Losses on sales in Q2 and expectations for Q3 - Losses were driven by incremental wholesaling activity of aged inventory, with expectations for a return to gains in Q3 as wholesaling activity decreases [48][49] Question: OEM delays and CapEx changes - Management anticipates that OEM delays will reverse in 2026, with increased capital spending expected as the freight market stabilizes [66][67] Question: Maintenance growth outlook - Management is focusing on mobile maintenance initiatives and sees potential for growth in retail maintenance services, despite traditional maintenance offerings being stagnant [100][103]

Financial Data and Key Metrics Changes - Ryder reported operating revenue of $2.6 billion for Q2 2025, an increase of 2% from the prior year, primarily driven by contractual revenue growth in Supply Chain Solutions (SCS) and Fleet Management Solutions (FMS) [13] - Comparable earnings per share from continuing operations were $3.32, up 11% from $3 in the prior year, reflecting higher contractual earnings and share repurchases [13] - Return on equity (ROE) was 17%, up from the prior year, primarily due to higher contractual earnings [14] - Year-to-date free cash flow increased to $461 million from $71 million in the prior year, reflecting lower working capital needs and reduced capital expenditures [14] Business Line Data and Key Metrics Changes - **Fleet Management Solutions (FMS)**: Operating revenue increased by 1%, driven by ChoiceLease revenue, which was up 2%. However, pretax earnings decreased to $126 million due to weaker freight market conditions [15] - **Supply Chain Solutions (SCS)**: Operating revenue increased by 3%, with earnings up 16% from the prior year, reflecting new business and improved performance from initiatives to optimize the omnichannel retail network [21] - **Dedicated Transportation Solutions (DTS)**: Operating revenue decreased by 3% due to lower fleet count, but earnings before tax (EBT) increased by 1% year-over-year, reflecting acquisition synergies [22] Market Data and Key Metrics Changes - The U.S. market remains a significant focus, generating 93% of Ryder's revenue, with expectations of benefiting from increased industrial manufacturing [6] - Used vehicle sales results were negatively impacted by increased wholesale volumes, with used tractor and truck pricing declining by 17% year-over-year [18] - Rental utilization on the power fleet was 70%, up from 69% in the prior year, although still below the target range [16] Company Strategy and Development Direction - Ryder's balanced growth strategy aims to derisk the business, increase return profiles, and accelerate growth in asset-light supply chain and dedicated businesses [4] - The company expects to continue leveraging its transformed business model to outperform prior cycles, with a focus on organic growth, strategic acquisitions, and innovative technology [11] - Ryder announced a 12% annualized increase to its quarterly dividend, reflecting higher profitability and improved returns [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the transformed business model, expecting to generate higher earnings and returns even in a freight cycle downturn [7] - The company anticipates a more muted recovery in used vehicle sales and ongoing challenges in the rental market due to economic uncertainty [29] - Management remains optimistic about robust sales and pipeline activity in SCS, despite near-term headwinds in lease and dedicated businesses [29] Other Important Information - Ryder increased its 2025 forecast for free cash flow to a range of $900 million to $1 billion, reflecting lower expected capital spending and the reinstatement of tax bonus depreciation [10] - The company has repurchased approximately 21% of its shares outstanding since 2021 and increased the quarterly dividend by 57% [9] Q&A Session Summary Question: Confidence in deploying dry powder on the balance sheet - Management feels confident about deploying capital for share repurchase programs and acquisitions, with plans to invest organically as the freight market improves [40][41] Question: Used vehicle pricing expectations - Management expects a steady increase in tractor pricing, with retail pricing up 10%, although the overall increase may be more muted than initially expected [43][44] Question: Reasons for losses on sales in Q2 and recovery in Q3 - Losses were driven by increased wholesaling of aged inventory, which is not expected to continue at the same level, allowing for a return to gains in Q3 [47][48] Question: Impact of OEM delays on capital expenditures - Management anticipates that OEM delays will reverse in 2026, leading to increased capital spending as the freight market stabilizes [62][64] Question: Maintenance growth outlook - Management is focusing on mobile maintenance initiatives and retail maintenance offerings, which are expected to grow despite historical stagnation [96][99]

Core Insights - Ryder reported revenue of $3.19 billion for the quarter ended June 2025, reflecting a year-over-year increase of 0.2% and surpassing the Zacks Consensus Estimate by 0.5% [1] - Earnings per share (EPS) for the quarter was $3.32, up from $3.00 in the same quarter last year, representing a surprise of 6.75% over the consensus estimate of $3.11 [1] Financial Performance Metrics - Commercial rental utilization was reported at 70%, exceeding the two-analyst average estimate of 68% [4] - Operating Revenue for Fleet Management Solutions was $1.29 billion, matching the average estimate and showing a year-over-year increase of 0.9% [4] - Operating Revenue for Dedicated Transportation Solutions was $470 million, slightly above the average estimate of $460.58 million, but down 3.1% year over year [4] - Operating Revenue for Supply Chain Solutions was $1.02 billion, aligning with the average estimate and reflecting a year-over-year increase of 3% [4] - Revenues for Fleet Management Solutions totaled $1.47 billion, consistent with the average estimate but down 0.7% year over year [4] - Revenues for Supply Chain Solutions reached $1.37 billion, slightly above the average estimate of $1.36 billion, marking a 1.9% year-over-year increase [4] - Revenues from Fleet Management Solutions - SelectCare and other amounted to $178 million, close to the average estimate, with a year-over-year increase of 1.1% [4] - Revenues from Eliminations were reported at -$250 million, better than the average estimate of -$261.4 million, but down 8.1% year over year [4] - Revenues from Fleet Management Solutions - Commercial rental were $239 million, exceeding the average estimate but down 2.1% year over year [4] - Revenues from Fleet Management Solutions - ChoiceLease were $871 million, slightly below the average estimate, with a year-over-year increase of 1.8% [4] - Revenues from Fleet Management Solutions - Fuel services were $179 million, below the average estimate, reflecting an 11.4% year-over-year decline [4] - Revenues from Dedicated Transportation Solutions were $606 million, slightly above the average estimate, but down 4.6% year over year [4] Stock Performance - Ryder's shares have returned +10.9% over the past month, outperforming the Zacks S&P 500 composite's +5.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Financial Performance Highlights - Second quarter operating revenue increased by 2% year-over-year to $2610 million[16,77] - Second quarter comparable EPS increased by 11% year-over-year to $332[16] - Second quarter ROE increased to 17%[16] - Year-to-date free cash flow reached $461 million[16] Segment Results - Fleet Management Solutions (FMS) operating revenue increased by 1% to $1288 million, while earnings before tax (EBT) decreased by 6% to $126 million[19,70] - Supply Chain Solutions (SCS) operating revenue increased by 3% to $1019 million, and EBT increased by 16% to $99 million[26,72] - Dedicated Transportation Solutions (DTS) operating revenue decreased by 3% to $470 million, but EBT remained flat at $37 million[29,74] Capital Allocation and Outlook - Full-year 2025 free cash flow forecast increased by $500 million to a range of $900 million - $1 billion[9,38] - Full-year 2025 comparable EPS forecast updated to $1285 - $1330[38]

Group 1 - Ryder reported quarterly earnings of $3.32 per share, exceeding the Zacks Consensus Estimate of $3.11 per share, and up from $3 per share a year ago, representing an earnings surprise of +6.75% [1] - The company posted revenues of $3.19 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.50%, and slightly up from $3.18 billion year-over-year [2] - Ryder has outperformed the S&P 500 with a gain of about 10.2% since the beginning of the year, compared to the S&P 500's gain of 8.1% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $3.65 on revenues of $3.26 billion, and for the current fiscal year, it is $13.03 on revenues of $12.87 billion [7] - The Transportation - Equipment and Leasing industry, to which Ryder belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] Group 3 - The estimate revisions trend for Ryder was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]

Second Quarter 2025 Earnings Conference Call July 24, 2025 Safe Harbor and Non-GAAP Financial Measures Note Regarding Forward-Looking Statements: SUPPLY CHAIN | DEDICATED TRANSPORTATION | FLEET MANAGEMENT SOLUTIONS © 2025 Ryder System, Inc. All Rights Reserved Certain statements and information included in this presentation are "forward-looking statements" under the Federal Private Securities Litigation Reform Act of 1995, including our expectations regarding: our forecast; our outlook; market conditions, s ...

News Release Ryder Reports Second Quarter 2025 Results Earnings Growth Driven by Resilient Contractual Portfolio and Strategic Initiatives; 2025 Free Cash Flow Forecast Increased by $500 Million Second Quarter 2025 Highlights Full-Year 2025 Outlook MIAMI, July 24, 2025 – Ryder System, Inc. (NYSE: R) reported results for the three months ended June 30 as follows: | | | | | | | | | Diluted | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | Earnings | | | | | | Earnings | | | | | Before Ta ...

Core Viewpoint - Analysts forecast that Ryder will report quarterly earnings of $3.11 per share, reflecting a year-over-year increase of 3.7%, while revenues are expected to be $3.17 billion, showing a decrease of 0.3% compared to the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised 0.3% lower over the last 30 days, indicating a reevaluation of initial estimates by analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts project 'Operating Revenue- Fleet Management Solutions' at $1.29 billion, indicating a year-over-year change of +0.9% [5]. - The estimate for 'Operating Revenue- Dedicated Transportation Solutions' is $460.58 million, reflecting a year-over-year decrease of 5% [5]. - 'Operating Revenue- Supply Chain Solutions' is expected to reach $1.02 billion, showing a change of +3.3% from the previous year [6]. - The estimate for 'Revenues- Fleet Management Solutions' is $1.47 billion, indicating a year-over-year change of -0.6% [7]. - 'Revenues- Dedicated Transportation Solutions' is projected at $604.69 million, reflecting a decrease of 4.8% from the prior year [8]. - 'Revenues- Fleet Management Solutions- ChoiceLease' is expected to reach $880.92 million, indicating a year-over-year change of +2.9% [9]. Key Metrics - 'Commercial rental - Rental Utilization - Power Units' is estimated at 68.0%, down from 69.0% a year ago [10]. - Over the past month, Ryder shares have returned +9.8%, outperforming the Zacks S&P 500 composite's +5.9% change [10].

The market expects Ryder (R) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 24, might help the stock move higher if these key numbers are better than expecta ...