Ryder System, Inc. - R STOCK NEWS

Ryder System, Inc. (NYSE: R) recognized Wade Robinson as the 2021 Ryder Top Technician, awarding him a cash prize of $50,000. The announcement came during the 20th annual Ryder Top Technician Recognition Program, held at the Kentucky International Convention Center in Louisville. This competitive event highlighted the skills of over 5,400 eligible technicians from the U.S. and Canada, emphasizing the importance of technical training for maintaining Ryder's fleet of over 235,000 vehicles. Each finalist, including Robinson, received a $10,000 cash prize.

Ryder System, Inc. (NYSE: R) announced a record $900,000 in contributions for its 2021 workplace campaign supporting United Way. This marks a significant achievement in the company’s 40-year partnership with the organization. The virtual campaign engaged nearly 40,000 employees across the U.S. and was led by the Ryder Charitable Foundation. Funds raised are allocated to programs focused on health, education, and financial stability. Ryder's commitment to community service was highlighted, demonstrating corporate social responsibility despite ongoing pandemic challenges.

Ryder System, Inc. (NYSE: R) will present a company update at the Baird 2021 Global Industrial Conference on November 11, 2021, at 11:25 a.m. ET. The update will be delivered by Chairman and CEO Robert Sanchez, focusing on key developments and strategies within the logistics and transportation sector. The virtual presentation will be accessible via a live webcast on Ryder's investor relations website.

Ryder is recognized for its extensive services in supply chain, transportation, and fleet management, operating nearly 235,000 commercial vehicles and over 300 warehouses globally.

Ryder System, Inc. (NYSE: R) has released a groundbreaking data-driven study on the impact of autonomous trucking, in collaboration with Georgia Tech's H. Milton Stewart School of Industrial and Systems Engineering. The study outlines a roadmap for commercialization that could lead to cost savings of 29% to 40% by optimizing routing and dispatching. By analyzing Ryder’s dedicated transportation network, researchers developed an Autonomous Transfer Hub Network, significantly reducing costs associated with empty trailers and labor. This study emphasizes real-world applicability and the need for industry evolution to fully utilize autonomous technology.

Ryder System, Inc. (NYSE: R) has announced the authorization of two new share repurchase programs aimed at enhancing capital structure and shareholder returns. The discretionary program allows for the repurchase of up to 2.0 million shares from October 14, 2021, to October 14, 2023, while the anti-dilutive program permits repurchases of up to 2.5 million shares, also within the same timeframe. The initiatives are designed to mitigate dilution from employee stock plans and provide flexibility in managing balance sheet leverage and acquisition opportunities.

Ryder System, Inc. (NYSE: R) has announced a definitive agreement to acquire Midwest Warehouse & Distribution System, enhancing its growth in supply chain solutions. The acquisition, anticipated to close in early November 2021, is expected to add approximately $135 million in annual revenue in 2022. With facilities primarily in the greater Chicago area, Midwest reinforces Ryder's multi-client warehousing capabilities, enabling better service for existing customers and the potential to attract new ones.

Ryder System reported strong third-quarter 2021 results, with GAAP EPS from continuing operations rising to $2.58, a significant increase from $0.85 in the prior year. Total revenue reached $2.5 billion, up 14%, driven by growth across all business segments. The company raised its full-year GAAP EPS forecast to $8.60-$8.70. Ryder's acquisition of Midwest Warehouse & Distribution System is expected to enhance its supply chain operations. Despite challenges from labor shortages, the outlook remains positive with anticipated ROE of 18%-19% and free cash flow of $1.0-$1.1 billion.