Ryder’s First-Quarter Income Improves

Ryder System’s first-quarter profit rose to $40.8 million, or 79 cents per share, from $34.9 million, or 68 cents, a year ago.

Revenue rose 2% to $1.56 billion, the company said Tuesday.

Earnings included a charge of $1.2 million, or 1 cent per share, related to non-operating pension costs, Ryder said.

Its fleet management solutions unit’s earnings from continuing operations rose 20% to $60.7 million, while revenue rose 3% to $1.10 billion.

Its supply chain solutions segment’s earnings from continuing operations rose 9% to $23.8 million, with revenue up 1% to $576.5 million.

Ryder Supply Chain Solutions, Miami, is ranked No. 10 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.