Ryder System Reports Q2 2026 Earnings, Highlights Strategic Shifts and Operational Improvements
Ryder System reported a 12% increase in comparable EPS for the second quarter of 2026, driven by its balanced growth strategy focused on reducing risk and transitioning toward less capital-intensive business models. The company has successfully shifted from being FMS-dominant to generating approximately 60% asset-light revenue through supply chain and dedicated segments. Operational improvements are attributed to a high-quality contractual base with over 90% of revenue coming from long-term contracts, along with strategic initiatives that delivered $70 million in incremental benefits for the year. The company raised its full-year comparable EPS guidance to between $14.40 and $14.80 due to an improved outlook on used vehicle sales and reduced downside risk. Management estimates a potential $250 million earnings benefit at the next cycle peak, primarily from rental demand recovery and higher used vehicle pricing. Capital expenditures are expected to reach $2.4 billion in 2026 as lease replacement activity increases.