Ryder System Boosts Long-Term ROE Target to Low Twenties

By Bobby Samwell • Thursday, June 13 15:18 • Permanent Link

Ryder System, Inc. (NYSE: R) has announced an increase in its long-term adjusted return on equity (ROE) target to a range of low twenties (20% * 22%) over the cycle, up from its prior target range of high teens (17% * 19%) over the cycle. This change reflects the company's confidence in its transformed business model, strategic initiatives, and expected benefits from the cycle upturn.

Ryder System, Inc. provides supply chain, dedicated transportation, and fleet management solutions, including warehousing and distribution, contract manufacturing and packaging, e-commerce fulfillment, last-mile delivery, managed transportation, professional drivers, freight brokerage, nearshoring solutions, full-service leasing, maintenance, commercial truck rental, and used vehicle sales to some of the world’s most-recognized brands. The company operates throughout the United States, Mexico, and Canada, managing nearly 250,000 commercial vehicles, servicing fleets at 760 maintenance locations, and operating nearly 300 warehouses encompassing more than 100 million square feet.

Ryder's 2024 investor day is expected to provide an in-depth review of the company’s business transformation and outline the next phase of its balanced growth strategy, focused on accelerating profitable growth supported by operational excellence and customer-centric innovation. The event will include formal presentations and two Q&A sessions with the senior leadership team.

Ryder's webcast registration for the 2024 investor day is required, with a link to the live webcast and presentation materials available on the company's investor relations website at investors.ryder.com, as well as a replay of the webcast following the live event.

These changes and announcements reflect the company's drive to outperform prior cycles and exceed peak-cycle returns, as articulated by Ryder Chairman & CEO Robert Sanchez. Following these announcements, the company's shares moved -0.5%, and are now trading at a price of $120.01. If you want to know more, read the company's complete 8-K report here.

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