--- title: "Ryder | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 3.347 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/293602306.md" datetime: "2026-07-23T10:57:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293602306.md) - [en](https://longbridge.com/en/news/293602306.md) - [zh-HK](https://longbridge.com/zh-HK/news/293602306.md) --- # Ryder | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 3.347 B Revenue: As of FY2026 Q2, the actual value is USD 3.347 B, beating the estimate of USD 3.291 B. EPS: As of FY2026 Q2, the actual value is USD 3.4, missing the estimate of USD 3.4781. EBIT: As of FY2026 Q2, the actual value is USD 282 M. #### Overall Performance - **GAAP EPS from continuing operations:** $3.40 for the three months ended June 30, 2026, an 8% increase from $3.15 in the prior year. - **Comparable EPS (non-GAAP) from continuing operations:** $3.73 for the three months ended June 30, 2026, a 12% increase from $3.32 in the prior year, driven by share repurchases and higher earnings in Fleet Management Solutions (FMS). - **Total Revenue:** $3,347 million for the three months ended June 30, 2026, an increase of 5% from $3,189 million in the prior year, primarily due to higher revenue in Supply Chain Solutions (SCS) and FMS. - **Operating Revenue (non-GAAP):** $2,686 million for the three months ended June 30, 2026, up 3% from $2,610 million in the prior year, mainly reflecting contractual revenue growth in SCS. - **Earnings Before Taxes (GAAP):** $185 million in 2026, compared to $184 million in 2025. - **Comparable Earnings Before Taxes (non-GAAP):** $202 million in 2026, compared to $193 million in 2025. - **Earnings from continuing operations (GAAP):** $133 million in 2026, compared to $132 million in 2025. - **Net Earnings (GAAP):** $133 million in 2026, compared to $131 million in 2025. - **Weighted Average Common Shares Outstanding (Diluted):** 38.9 million in 2026, down from 41.8 million in 2025. - **Comparable EBITDA (non-GAAP):** $741 million for the three months ended June 30, 2026, compared to $729 million for the same period in 2025. - **Effective Interest Rate:** 5.1% for the three months ended June 30, 2026, down from 5.3% in the prior year. - **Adjusted Return on Equity (non-GAAP):** 17% for the twelve months ended June 30, 2026, consistent with 2025. #### Cash Flow and Capital - **Net Cash Provided by Operating Activities from Continuing Operations:** $1,260 million for the six months ended June 30, 2026, compared to $1,403 million in 2025, primarily due to higher working capital needs and timing of vendor payments. - **Free Cash Flow (non-GAAP):** $684 million for the six months ended June 30, 2026, up from $461 million in 2025, primarily reflecting reduced cash capital expenditures. - **Capital Expenditures Paid:** $832 million for the six months ended June 30, 2026, a decrease from $1,203 million in 2025, mainly due to the timing of ChoiceLease fleet replacement and reduced investments in the rental fleet. - **Debt-to-Equity:** 259% as of June 30, 2026, up from 250% as of December 31, 2025, remaining within Ryder System, Inc.’s long-term target of 250% to 300%. #### Segment Performance ##### Fleet Management Solutions (FMS) - **Total Revenue:** $1,560 million, a 6% increase from $1,467 million in the prior year, reflecting higher fuel prices passed through to customers and increased operating revenue. - **Operating Revenue (non-GAAP):** $1,303 million, a 1% increase from $1,288 million, reflecting contractual revenue growth partially offset by lower commercial rental demand. - **Earnings Before Tax (EBT):** $150 million, a 20% increase from $126 million in the prior year, benefiting from strategic initiatives and improved used vehicle sales. - **EBT as a % of Total Revenue:** 9.6% in 2026, up from 8.6% in 2025. - **EBT as a % of Operating Revenue:** 11.5% in 2026, up from 9.7% in 2025. - **Used Vehicle Sales (UVS):** Used truck pricing increased 6% and tractor pricing increased 3% year-over-year. - **Rental Power-Fleet Utilization:** 75%, compared to 70% in the prior year, on a 15% smaller average fleet. - **Average Fleet Count (ChoiceLease):** 141,200 units, a -1% change from 143,200 units in the prior year. - **Average Fleet Count (Commercial rental):** 29,200 units, a -15% change from 34,300 units in the prior year. - **Average Fleet Count (SelectCare contracts):** 44,300 units, a 3% increase from 43,000 units in the prior year. ##### Supply Chain Solutions (SCS) - **Total Revenue:** $1,472 million, an 8% increase from $1,366 million in the prior year, primarily due to increased operating revenue. - **Operating Revenue (non-GAAP):** $1,095 million, a 7% increase from $1,019 million, reflecting new business partially offset by lost business in automotive. - **Earnings Before Tax (EBT):** $92 million, a -7% decrease from $99 million in the prior year, impacted by lower automotive results and productivity of new business ramp-up, partially offset by omnichannel retail network optimization. - **EBT as a % of Total Revenue:** 6.3% in 2026, down from 7.2% in 2025. - **EBT as a % of Operating Revenue:** 8.4% in 2026, down from 9.7% in 2025. - **Customer Vehicles under SCS Contracts (End of Period Fleet Count):** 13,100 units, a 1% increase from 13,000 units in the prior year. ##### Dedicated Transportation Solutions (DTS) - **Total Revenue:** $600 million, a -1% decrease from $606 million in the prior year, reflecting lower operating revenue and subcontracted transportation costs, partially offset by higher fuel revenue. - **Operating Revenue (non-GAAP):** $455 million, a -3% decrease from $470 million, reflecting a lower fleet count partially offset by higher pricing. - **Earnings Before Tax (EBT):** $36 million, a -4% decrease from $37 million in the prior year, primarily due to lower operating revenue and adverse development of prior-year insurance claims, partially offset by strategic initiatives. - **EBT as a % of Total Revenue:** 6.0% in 2026, down from 6.2% in 2025. - **EBT as a % of Operating Revenue:** 7.9% in 2026, consistent with 7.9% in 2025. - **Customer Vehicles under DTS Contracts (End of Period Fleet Count):** 17,200 units, a -7% decrease from 18,400 units in the prior year. #### Outlook / Guidance Ryder System, Inc. expects to achieve $70 million in benefits from strategic initiatives during 2026. The company maintains its full-year 2026 forecast for net cash provided by operating activities from continuing operations at $2.7 billion and free cash flow (non-GAAP) at $700 million - $800 million. The comparable EPS (non-GAAP) range for the full year 2026 has been raised to $14.40 - $14.80, with operating revenue (non-GAAP) growth remaining at 3%, primarily driven by SCS. ### Related Stocks - [R.US](https://longbridge.com/en/quote/R.US.md) ## Related News & Research - [Ryder System (NYSE:R) Given New $283.00 Price Target at Citigroup](https://longbridge.com/en/news/293790493.md) - [R: Earnings and revenue rose, guidance increased, and strategic initiatives drove continued growth](https://longbridge.com/en/news/293603926.md) - [Ryder System Raises 2026 Earnings Outlook on Strong Q2](https://longbridge.com/en/news/293606950.md) - [Earnings To Watch: Werner (WERN) Reports Q2 Results Tomorrow](https://longbridge.com/en/news/293874664.md) - [Avis Budget Group (CAR) To Report Earnings Tomorrow: Here Is What To Expect](https://longbridge.com/en/news/293874629.md)