Ryder System, Inc. - R STOCK NEWS

Ryder System, Inc. (NYSE: R) has awarded Chris Johnson of Annacis Island, British Columbia, a grand prize of $50,000 as the 2022 Ryder Top Technician. The competition showcased elite technicians from the U.S. and Canada, testing their commercial vehicle maintenance skills. The event in Milwaukee featured rigorous challenges, including electronic diagnostics and preventive maintenance. Ryder emphasized the importance of skilled technicians amidst a growing industry shortage. Johnson's win highlights Ryder's commitment to excellence in service and technical training.

RingCentral (NYSE: RNG) has partnered with Ryder System (NYSE: R) to enhance business communications across Ryder's nearly 800 fleet maintenance and rental locations. Utilizing RingCentral MVP™ for unified operations, Ryder has improved customer service and operational efficiency. The rollout has also led to the deployment of RingCentral Contact Center™ for Ryder Last Mile, enabling seamless support for home delivery services. This collaboration highlights efforts in digital transformation, with acknowledged benefits in employee productivity and customer satisfaction.

Ryder System reported a strong Q2 2022, achieving a GAAP EPS of $4.72, up from $2.78 YoY, driven by Fleet Management Solutions (FMS) and Supply Chain Solutions (SCS). Total revenue reached $3 billion, a 27% increase, and operating revenue increased by 20% to $2.3 billion. The company raised its full-year GAAP EPS forecast to $14.45 - $14.95. Ryder also announced a 7% dividend increase and plans to complete a $300 million share repurchase program. Strong cash flow and improved operational performance position Ryder well for future growth.

Ryder System, Inc. (NYSE: R) has been recognized as a "Green Supply Chain Partner" for the 14th consecutive year by Inbound Logistics. This award highlights Ryder's commitment to sustainability and efficiency in its logistics services. The company has made significant investments in technologies like RyderShare™ to enhance supply chain visibility and reduce environmental impact. Strategies employed include utilizing solar energy in warehouses and recycling automotive waste. Ryder aims for continuous improvement while maintaining strong recognition in environmental practices.

The Board of Directors of Ryder System, Inc. (NYSE: R) has declared a quarterly cash dividend of $0.62 per share, an increase of $0.04 from the prior dividend of $0.58. This dividend will be paid on September 16, 2022, to shareholders of record by August 22, 2022. This marks Ryder's 184th consecutive quarterly cash dividend, demonstrating over 46 years of continuous dividend payments.

Kirkland's Home (KIRK) announced a partnership with Ryder to introduce an in-home delivery service across the lower 48 states, set to launch by the end of July 2022. This initiative aims to enhance customer convenience by offering delivery, light assembly, and packaging disposal for large home décor and furniture items. The program, initially tested in over 25 major markets, will upgrade Kirkland's logistics capabilities, promoting a seamless shopping experience online and in-store. This collaboration is expected to attract more customers and improve competitiveness in the home furnishing sector.

Ryder System, Inc. (NYSE: R) announced its Second Quarter 2022 Earnings Conference Call scheduled for July 27, 2022, at 11:00 a.m. Eastern Time. Management, including CEO Robert Sanchez and CFO John Diez, will review Q2 results during the call, which will be available via live webcast. Investors can dial 888-352-6803 (or 323-701-0225 for international calls) using the audio passcode Ryder. A replay will be accessible post-call. Further details are available on Ryder's investor website.