Q2 2026 Ryder System Inc Earnings Call Transcript
Key Points
- Ryder System Inc (R) delivered its seventh consecutive quarter of comparable EPS growth, driven by strategic initiatives and improving market conditions in used vehicle sales.
- The company's balanced growth strategy has shifted revenue towards less capital-intensive, asset-light businesses, with 60% of 2026 expected revenue from Supply Chain and Dedicated segments.
- Ryder System Inc (R) reported a 12% increase in comparable EPS for the second quarter, reflecting strong contractual portfolio performance and strategic initiatives.
- The company achieved a return on equity of 17%, consistent with expectations and demonstrating resilience in the current freight cycle.
- Ryder System Inc (R) has a high-quality contractual base, with over 90% of revenue generated by long-term contracts, contributing to business model resilience.
- Despite improvements, market conditions remain below normalized levels, with geopolitical and macroeconomic factors influencing recovery pace.
- Supply Chain earnings before taxes decreased by 7% due to lower automotive results and productivity challenges in new business ramp-up.
- Dedicated segment saw a 3% decrease in operating revenue due to lower fleet count and adverse development of prior year insurance claims.
- Rental demand remained below prior year levels and historical seasonal trends, despite utilization returning to target levels.
- Some strategic initiatives expected to launch in 2026 have been delayed to 2027, impacting the company's guidance for the second half of the year.
Good morning, and welcome to the Ryder System second-quarter 2026 earnings release conference call. (Operator Instructions). Today's call is being recorded. If you have any objections, please disconnect at this time.
I would now like to introduce Ms. Calene Candela, Vice President, Investor Relations for Ryder. Mr. Candela, you may begin.
Thank you. Good morning, and welcome to Ryder's second-quarter 2026 earnings conference call. I'd like to remind you that during this presentation, you'll hear some forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive, market, political and regulatory factors.
More detailed information about these factors and a reconciliation of each non-GAAP financial
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