Ryder’s First-Quarter Profit Rises

Ryder System said Wednesday its first-quarter profit rose 8% to $51.3 million or 84 cents a share, from $47.6 million or 77 cents a year ago.

Revenue for the quarter gained 7% to $1.59 billion. Operating revenue rose 6% to $1.12 billion.

The company’s supply chain unit’s revenue jumped 21% to $566.4 million. Dedicated contract carriage revenue was flat, at $138.5 million.

Ryder also said its second-quarter earnings would be $1.04 to $1.07 per share, and would include 1 cent per share in restructuring costs.

Ryder is ranked No. 5 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.