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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.

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.

The nearshoring trend has been driving further transportation and logistics investments near the Mexican border as companies work to capture current and expected future growth.

Ryder System Inc. on May 13 confirmed receipt of a $4.4 billion offer to be acquired by HG Vora Capital Management, a proposal that Wall Street analysts said reflects the high value the potential buyer sees in the leasing company’s business.

Trucking and logistics company Ryder System will cease operations at its Moreno Valley, Calif., distribution center, leading to layoffs for 145 employees there.

Truck driver Justin Osborne pulled up to a house in the Dallas suburbs last month and started unloading an oven, a dishwasher and a microwave. His mission: Help J.B. Hunt Transport Services Inc. win the battle for new delivery riches spurred by e-commerce.

Ryder System has reserved 500 new Chanje Energy medium-duty electric panel vans for its North American truck rental and ChoiceLease fleet, the company announced June 7.

Ryder System Inc. will provide dedicated transportation, logistics and fleet management for Mattel Inc. at the toy maker’s Jonestown, Pa., distribution center.