Ryder System said Friday its second-quarter profit increased to $29.8 million, or 56 cents a share, from $22.9 million, or 41 cents, a year ago.
Revenue rose 6.1% to $1.29 billion, the company said in a statement.
Earnings from continuing operations were $30.6 million, or 58 cents a share, compared with $27.1 million, or 41 cents, in the previous second quarter.
Ryder’s fleet management solutions unit’s revenue rose 4% to $931.2 million, while operating revenue slipped 1% to $709 million.
Its supply chain solutions segment’s revenue rose 12% to $310.1 million, while operating revenue gained 7% to $249.9 million.
The dedicated contract carriage segment’s revenue rose 6% to $123 million. Operating revenue gained 4% to $118.6 million.
Chairman and Chief Executive Officer Greg Swienton raised the company’s full-year earnings forecast to a range of $2 to $2.10 per share, up from a previous $1.85 to $1.95 range.
Ryder’s third-quarter earnings per share will be 62 to 67 cents, he said.
Ryder System is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
