Ryder System, Inc. - R STOCK NEWS

Ryder System, Inc. (NYSE: R) has launched a limited-time discount program for women-owned businesses that are members of the Women in Trucking Association (WIT), offering 5% off pre-owned commercial vehicle purchases. This initiative reflects Ryder's commitment to enhancing customer experience in fleet management while supporting gender diversity in trucking careers. The company provides easy online access to its used vehicle inventory, with dedicated staff available for consultations. Ryder also supports education and training for women in transportation through scholarships, aiming to bridge the gender gap in the industry.

Ryder System, Inc. (NYSE: R) has sold its Miami headquarters campus for $42.1 million to Bridge Industrial. The 16.8-acre property, home to Ryder's 248,989-square-foot office since 2005, was deemed too large post-pandemic. CEO Robert Sanchez stated the decision to downsize was necessary due to reduced office space needs. Ryder will lease back the site for up to 12 months while seeking a new headquarters in the Coral Gables area, aiming for a space suited for a hybrid work model. Ryder remains committed to Miami-Dade County, where it was founded in 1933.

Ryder System, Inc. (NYSE: R) announced that its Chairman and CEO, Robert Sanchez, will address the J.P. Morgan Industrials Conference on March 14, 2023, at 2:50 p.m. EST. The conference will take place in New York City. Ryder is known as a leader in logistics and transportation, offering various solutions including supply chain management, dedicated transportation, and fleet management. Investors are encouraged to tune in to the live webcast available at Ryder's investor relations website.

Ryder System, Inc. (NYSE: R) will be represented by Chairman & CEO Robert Sanchez and Executive VP & CFO John Diez at Citi's 2023 Global Industrial Tech and Mobility Conference. Scheduled for February 22, 2023, at 8:50 a.m. ET in Miami Beach, FL, the event will feature insights into Ryder's logistics and transportation operations. Stakeholders can access a live webcast via the company's investor relations page.

Ryder is a leading player in logistics, managing over 239,000 commercial vehicles and operating more than 330 warehouses across North America, underscoring its significant market presence.

Ryder System, Inc. (NYSE: R) has authorized a new discretionary share repurchase program, allowing management to buy back up to 2.0 million shares of common stock from February 10, 2023, through February 10, 2025. This initiative aims to enhance capital structure flexibility while supporting balance sheet leverage, acquisition opportunities, and shareholder returns. As of January 31, 2023, Ryder had 46.3 million shares outstanding. The repurchases will be executed using working capital and could include various methods like open-market transactions, depending on market conditions and legal requirements.

Ryder System, Inc. (NYSE: R) reported strong fourth-quarter and full-year 2022 results, showcasing a GAAP EPS from continuing operations of $4.06, up from $3.36 in the prior year. Total revenue increased to $3.1 billion for Q4 and $12.0 billion for the full year, reflecting a 19% and 24% growth respectively. The adjusted return on equity rose to 29%, surpassing previous targets. Key areas of growth included Supply Chain Solutions and Dedicated Transportation Solutions, with earnings surging by 67% and 150% respectively. The company projects a 2023 EPS range of $11.05 - $12.05 and announced a new 2 million-share buyback program.