Ryder Sees Growth in Dedicated Transportation Segment Amid Market Shifts
During its second-quarter earnings call, Ryder System highlighted increased opportunities for its dedicated transportation solutions segment as market capacity declines. Although operating revenue fell by 3% year-over-year in Q2, the company anticipates a positive fleet count shift later this year or early next due to stronger sales activity. Ryder's CEO noted that customers are shifting from for-hire carriers back toward dedicated services amid rising operational and insurance costs as well as labor shortages. The firm is also monitoring regulatory changes related to emissions standards, which may impact OEMs passing on higher expenses in the future.
Tickers: $R
Topics: dedicated fleets labor market market recovery regulatory impact transportation