Ryder Q3: EPS Beats, Revenue Flat

Ryder reported Q3 FY2025 revenue essentially flat at $3.17 billion, slightly missing consensus, while adjusted (comparable) EPS of $3.57 narrowly beat estimates. On a GAAP basis, net income slipped to $138 million (GAAP EPS roughly $3.32–$3.33). Segment results were mixed: Dedicated Transportation Solutions revenue fell about 10% to $570 million (EBT $36 million), Fleet Management Solutions revenue dipped slightly while EBT rose to about $146 million, and Supply Chain Solutions revenue grew roughly 5% to $1.38 billion while EBT declined to about $86 million. Management said acquisition synergies helped results but were partly offset by fleet reductions amid weak freight conditions. Ryder reiterated FY2025 comparable EPS guidance of $12.85–$13.05 (GAAP $12.10–$12.30), sees Q4 comparable EPS around $3.50–$3.70, expects roughly 1% revenue growth, and plans about $2.3 billion in capital spending. The quarter produced a small earnings surprise but mixed segment trends amid a freight downturn leave near-term performance and the stock’s sustainability dependent on management commentary and analyst estimate revisions; shares have outperformed year-to-date and over the past 12 months.