Ryder System, Inc. - R STOCK NEWS

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.

Ryder System, Inc. (NYSE: R) declared a quarterly cash dividend of $0.62 per share, to be paid on March 17, 2023 to shareholders of record on February 21, 2023. This marks Ryder's 186th consecutive quarterly cash dividend, reflecting over 46 years of uninterrupted payments. The company, a leader in logistics and transportation, manages approximately 239,000 commercial vehicles and operates more than 330 warehouses across the U.S., Mexico, and Canada.

Ryder System, Inc. (NYSE: R) has initiated a multimillion-dollar sponsorship campaign with professional golfer Sam Ryder, enhancing brand visibility in a targeted market. The initiative features the Ryder logo on Sam Ryder’s golf apparel for the next two seasons and includes humorous advertisements across TV, print, and digital platforms. The campaign aims to engage Ryder's B2B audience, capitalizing on the golfer's determination and integrity. With ads airing during major golf events and placements in renowned publications, this partnership underscores Ryder's commitment to innovative marketing strategies that align with its corporate values.

Ryder System, Inc. (NYSE: R) announced its Fourth Quarter 2022 Earnings Conference Call scheduled for February 15, 2023, at 11:00 a.m. Eastern Time. The call will feature Chairman and CEO Robert Sanchez and CFO John Diez discussing the company's performance during this period. Participants can join the live webcast through Ryder's website, with a replay available shortly after the call. Ryder operates in logistics and transportation, managing nearly 239,000 commercial vehicles and over 330 warehouses, which total more than 80 million square feet across North America.

Ryder System, Inc. (NYSE: R) announced that Karen Jones, CMO, will present at Manifest 2023, alongside Paul Gross, CEO of Remora, a startup focused on carbon capture for heavy-duty trucks. The event will take place on February 2, 2023, at 9:40 a.m. in Las Vegas. Ryder aims to enhance its logistics services through collaborations with innovative startups, addressing customer pain points rapidly. As a headline sponsor, Ryder will showcase its integrated supply chain solutions, including e-commerce fulfillment and last-mile delivery.

Ryder System, Inc. (NYSE: R) is set to open its tenth multiclient distribution center in North Aurora, Illinois, in early January. This facility spans nearly 550,000 square feet, primarily catering to shippers of consumer-packaged goods, including food, beverage, and health products. The new center offers significant logistical advantages with a strategic location close to a dense labor force and access to essential infrastructure. Ryder plans to recruit around 100 positions and utilizes advanced visibility technology to streamline operations. The company currently serves nine of the top ten U.S. food and beverage firms.

Ryder System, Inc. (NYSE: R) will showcase its newly expanded e-commerce and omnichannel fulfillment solution at CES® 2023. Attendees can experience an interactive journey of an e-commerce order, from online purchase to delivery. Ryder aims to demonstrate how its logistics capabilities enhance speed, scalability, and brand experience. The company also recently acquired Dotcom Distribution and Whiplash, boosting its fulfillment services for e-commerce brands. Ryder's solution offers delivery to 100% of the U.S. within two days and 60% within one day.