Ryder System (R) 2025 Conference June 11, 2025 09:45 AM ET Speaker0 All right. Well, welcome back to day two of the Wells Industrial and Materials Conference. I'm delighted to continue and segue into the trucking and logistics portion of our conference with Ryder Systems Inc. With us, we've got Robert Sanchez, the Chairman and CEO as well as in the audience, Kayleen Candela. So I'm going to turn it over to Robert for some prepared remarks, and then we'll jump into Q and A. Speaker1 Okay. Thank you. Well, I' ...

Financial Data and Key Metrics Changes - The company reported a fourth quarter loss of $82.3 million compared to a loss of $0.863 million for the same quarter last year [9] - Full year fiscal 2025 earnings were $367.1 million, down from $628.7 million in fiscal 2024 [9] - EBITDA for the Moving and Storage segment increased by $5.6 million for the quarter to $217.3 million, largely from revenue growth [9] - Full year fiscal 2025 EBITDA increased by just under $52 million to $1.6197 billion [10] Business Line Data and Key Metrics Changes - Equipment rental revenue increased by $29 million or just over 4% in the fourth quarter, with a full year increase of just over $100 million or about 2.8% [12] - Self-storage revenues were up $18 million or 8% for the quarter, with a similar 8% increase for the full year [14] - Average revenue per occupied foot improved by approximately 1.6%, with a 3% increase for the same store portfolio [14] - The average occupancy ratio across all locations declined about 2.5% to just over 77% [16] Market Data and Key Metrics Changes - The company defleeted three-quarters of its pickup fleet due to profitability concerns [5] - Resale prices for vans and pickups are steady or improving, with expectations for a clearer path beyond October [6] - U Box revenue results were up just under $14 million, with both U Box moving transactions and related storage transactions growing [17] Company Strategy and Development Direction - The company aims to provide reliable, fuel-efficient vehicles and is seeking emissions regulation relief to better serve customers [5] - There is a focus on executing storage programs with precision, as storage remains a bright spot for the company [6] - The company plans to leverage its newly developed storage capacity and U Box offerings to drive growth [47] Management's Comments on Operating Environment and Future Outlook - Management noted signs of consumer optimism and a willingness to accept rate increases, indicating a potential for improved business [25] - Concerns were raised about the impact of tariffs on consumer behavior, but management observed that moving activity remains strong [56] - The company expects to see improvements in equipment acquisition costs as automakers normalize their production strategies [31] Other Important Information - Capital expenditures for new rental equipment for fiscal 2025 were $1.863 billion, a $244 million increase compared to fiscal 2024 [13] - Operating expenses in the Moving and Storage segment increased by $53.6 million, with personnel costs up $12.8 million [18] Q&A Session Summary Question: Interpretation of fourth quarter strength - Management acknowledged the fourth quarter as the strongest in six years, indicating a positive trend in top-line business [24][25] Question: Outlook for top-line growth - Management expressed optimism for modest growth, with signs of consumer willingness to engage in moving transactions [25][26] Question: Concerns about depreciation - Management clarified that while depreciation is a normal part of the business, recent increases in equipment acquisition costs have impacted financials [28][30] Question: U Box growth attribution - Management noted that U Box moving transactions are growing faster than storage transactions, with both segments seeing over 20% growth [41][42] Question: Real estate investments and CapEx expectations - Management indicated that while there is no emergency need for construction, they will continue to leverage existing assets for growth [46][47] Question: Impact of tariffs on customer behavior - Management observed that despite potential uncertainties from tariffs, moving activity remains strong, suggesting consumer confidence [56] Question: Fleet age and maintenance expenses - Management indicated that while fleet age has increased, they are working to improve the quality and availability of their trucks [85][90]

SAN DIEGO, April 30, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds stockholders that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Avis Budget Group, Inc. (NASDAQ: CAR) securities between February 16, 2024 and February 10, 2025. Avis Budget, with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers internationally. For more information, submit a form, email attorney Aaron Dumas, Jr. ...

Core Viewpoint - A class action lawsuit has been filed against Avis Budget Group, Inc. for allegedly misleading investors regarding its strategy to accelerate fleet rotations, which led to significant financial losses and impairment charges [1][2]. Summary by Sections Allegations - Robbins LLP is investigating claims that Avis Budget failed to disclose a plan to significantly accelerate fleet rotations in Q4 2024, which shortened the useful life of most vehicles in the Americas segment, reducing their recoverable value [2]. - The company is expected to recognize billions in impairment charges and incur substantial losses, negatively impacting its financial results and overstating its business prospects [2]. Financial Results - On February 11, 2025, Avis Budget reported disappointing financial results for Q4 and full year 2024, including a loss of $1.96 billion, or $55.66 per share, compared to a profit of $259 million, or $7.10 per share, in the same period the previous year [3]. - The loss was attributed to a change in strategy that resulted in a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million [3]. - Following the announcement, Avis Budget's stock price fell by $6.12 per share, nearly 7%, closing at $83.59 per share [3]. Class Action Participation - Shareholders interested in serving as lead plaintiffs must file their papers by June 24, 2025, but participation is not required to be eligible for recovery [4].

NEW YORK, April 28, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Avis Budget Group, Inc. ("Avis Budget" or the "Company") (NASDAQ: CAR) and certain officers.  The class action, filed in the United States District Court for the District of New Jersey, and docketed under 25-cv-03332 , is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Avis Budget securities between February 16, 2024 and Fe ...