Ryder System (R)
NYSE:R
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
3.67Last Year’s EPS
3.32Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a constructive and cautiously optimistic tone. Ryder reported continued sequential and year-over-year earnings momentum (sixth consecutive quarter of comparable EPS growth), raised full-year EPS guidance, delivered record Supply Chain sales, and highlighted tangible progress from a $170 million strategic initiative program (on track for $70 million incremental benefit in 2026). Cash flow improved and the balance sheet remains within target leverage, supporting capital return and reinvestment. Offsetting items include ongoing segment-specific headwinds (Supply Chain EBT decline vs. a strong prior year, Dedicated revenue down 5%), mixed used-vehicle pricing trends (tractors up, trucks down year-over-year) and a still-depressed rental fleet limiting immediate cyclical upside. Management took a conservative stance on near-term cyclical benefits (only $10 million of upturn benefits included in 2026 guidance out of a potential $250 million opportunity), reflecting prudent guidance given macro and OEM uncertainty. Overall, positive operational and financial execution outweigh the present headwinds, with upside contingent on continued improvement in rental and used-vehicle markets and stabilization of end-market volumes.Company Guidance
Comparable EPS Growth and Raised Full-Year Guidance
Comparable EPS from continuing operations was $2.54 in Q1, up 3% year-over-year; company raised full-year 2026 comparable EPS guidance to $14.05–$14.80 (prior year $12.92) and Q2 guidance to $3.50–$3.75 (prior year $3.32).
Sustained EPS Momentum
Ryder delivered its sixth consecutive quarter of comparable EPS growth, demonstrating consistent execution of the transformed business model.
Strong Supply Chain Sales and Record Performance
Supply Chain operating revenue increased 3% year-over-year and the segment reported record sales in Q1; Supply Chain EBT margin was 7% (at the segment's long-term target of high single digits) despite a difficult prior-year comparison.
Fleet Management Profitability Improvement
Fleet Management Solutions EBT was $99 million in Q1 and FMS EBT as a percent of operating revenue improved to 7.9% year-over-year, driven by strategic pricing and maintenance initiatives.
Used Vehicle Market Improvement
Used tractor pricing increased 6% year-over-year; retail pricing was stable sequentially; first quarter used vehicle results were the strongest year-over-year since Q3 2022 and retail volumes outperformed expectations. The company sold 4,600 used vehicles in Q1 (up 1,000 sequentially).
Operational Cash Flow and Free Cash Flow
Free cash flow increased to $273 million in Q1 from $259 million prior year (approx. +5.4%); management reiterated a free cash flow forecast of $700–$800 million for FY2026 and highlighted expected operating cash flow of ~$2.7 billion for 2026, reflecting improved contractual earnings.
Strategic Initiative Progress
Multiyear strategic program ($170 million total) launched in 2024 delivered $100 million of benefits through 2025; Ryder is on track to deliver the remaining $70 million incremental benefits in 2026, which management cites as a key driver of earnings improvement.
Capital Allocation and Balance Sheet Strength
Q1 capital deployment included ~$400 million of funded lease/rental replacement CapEx and $272 million returned to shareholders (buybacks + dividends). Leverage at quarter end was ~2.69x (reported as 269%), within the target 2.5–3.0x range, and management cited ~$4.5 billion of flexible deployment capacity over a 3-year period.
Rental Pricing and Utilization Improvements
Rental power fleet pricing was up 3% year-over-year and rental utilization averaged 68% in Q1 (vs. 66% prior year) despite a smaller average fleet (~13% smaller). Sequential seasonal rental patterns returned to historical norms for the first time in three years.
Contractual Revenue Mix and Resiliency
Management emphasized that over 90% of revenue is from long-term contracts and that the company has shifted toward asset-light supply chain and dedicated businesses, which are expected to generate ~60% of 2026 revenue vs. 44% in 2018, supporting higher ROE (forecast 17–18%) and stronger cash generation.
R Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
R Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2026 | $227.58 | $242.59 | +6.60% |
Feb 11, 2026 | $211.29 | $216.38 | +2.41% |
Oct 23, 2025 | $181.06 | $158.67 | -12.37% |
Jul 24, 2025 | $170.30 | $174.55 | +2.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ryder System (R) report earnings?
Ryder System (R) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is Ryder System (R) earnings time?
Ryder System (R) earnings time is at Jul 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is R EPS forecast?
R EPS forecast for the fiscal quarter 2026 (Q2) is 3.67.