Ryder Q3 Beats, Raises 2026 EPS Outlook to $14.85-$15.05 and Adds $300M to Rental Fleet
R sits 52% above its 52-week low of $157.67.
Summary
Ryder posted Q3 comparable EPS of $4.33, up 21%, and raised full-year 2026 comparable EPS guidance to $14.85-$15.05 with ROE of 18%-19%. It also boosted 2026 rental fleet investment to $500 million, $300 million above the prior plan.
Key Events · Earnings and Guidance · R
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Q3 Comparable EPS Up 21%
Comparable EPS from continuing operations was $4.33 versus $3.57 a year ago; GAAP EPS from continuing operations was $4.16, up 25%.
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Full-Year Guidance Raised
2026 comparable EPS guidance lifted to $14.85-$15.05 and ROE to 18%-19%; operating revenue growth held at 3% and free cash flow at $700 million-$800 million.
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Rental Fleet Investment Boosted
Full-year rental fleet investment raised to $500 million, up $300 million from the prior forecast, aimed at capturing higher expected rental demand in 2027.
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Pension Settlement Hits GAAP EPS
Full-year GAAP EPS of $9.75-$9.95 and Q4 GAAP EPS of $(0.15)-$0.05 include about $4.30 of non-cash pension settlement charges from U.K. and Canadian plan transfers; no impact to shareholders' equity.
Analysis · R · Trade & Services
Ryder's third quarter was strong: comparable EPS of $4.33 rose 21% on 6% operating revenue growth, and all three segments hit long-term earnings targets. The bigger news is the outlook. Full-year comparable EPS guidance was raised to $14.85-$15.05 and ROE to 18%-19%, while the company lifted its 2026 rental fleet investment to $500 million, $300 million above the prior forecast, to capture expected 2027 rental demand. That is management putting capital behind its own read of a freight market recovery, and it comes with used truck pricing up 5% and tractor pricing up 19% year over year. The one wrinkle is GAAP optics: full-year GAAP EPS of $9.75-$9.95 and Q4 GAAP EPS of $(0.15)-$0.05 both absorb roughly $4.30 of non-cash pension settlement charges from transferring U.K. and Canadian plan obligations to insurers — a charge that does not touch shareholders' equity.
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At the time of this filing, R was trading at $240.31 on NYSE in the Trade & Services sector, with a market capitalization of approximately $9.2B. The 52-week trading range was $157.67 to $284.25. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.