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Profit at Ryder System rose in the first quarter of 2025 as higher contract revenue outweighed ongoing weakness in the rental and used vehicle sales businesses.

“We are pleased to report that this quarter is the first quarter in the last eight with year-over-year comparable earnings growth," CEO Robert Sanchez said during a call with investors.

Truck rental utilization is a key performance indicator for the fortunes of Ryder’s biggest business unit and for the health of the freight market in general, CEO Robert Sanchez said.

Looking forward, Chief Financial Officer John Diez said Ryder expects earnings growth in the fourth quarter as a result of its contractual portfolio.

Revoy revealed Ryder System as the first customer for the Bay Area startup’s electric vehicle, which converts a Class 8 diesel semi into a hybrid without any changes to the tractor.

Profits and revenues at Ryder System Inc. increased in the second quarter of 2024 on the back of higher returns from its leasing and maintenance program, the integration of the Cardinal Logistics acquisition and the absence of an accounting charge taken in the year-ago period.

A new analysis by leasing and logistics specialist Ryder System indicates the business case for swapping a diesel or gasoline van or truck for an EV is shaky for much of the trucking industry.

DHL expanded its network of retail locations by introducing a store in Fairfax, Va., the company announced April 23.

Profits at Ryder System Inc. fell 39.8% in the fourth quarter of 2023 as weak freight conditions again sapped strength from used vehicle sales prices and rental activity, it said Feb. 14.

Ryder System Inc. is to buy IFS Holdings, also known as Impact Fulfillment Services (IFS), for an undisclosed sum, the Miami-based company said Oct. 23.