Ryder’s 1Q Earnings Increase
Ryder System said its first-quarter earnings rose from a year ago, led by its fleet management solutions unit, and reported record first-quarter operating revenue.
Net income rose to $48.2 million, or 90 cents a share, from $39.9 million, or 77 cents, a year ago.
Revenue rose 3% to $1.61 billion, the company reported April 23.
Its fleet management solutions segment’s revenue rose 3% to $1.14 billion, and its supply chain solutions segment’s revenue rose 4% to $597.3 million.
Ryder System, Miami, is the parent company of Ryder Supply Chain Solutions, which is ranked No. 10 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.
