Ryder System (NYSE:R) raised its full-year profit expectations on Thursday, signaling confidence in its "transformed" business model even as broader freight conditions remain uneven.
The Miami-based logistics and truck-leasing provider reported first-quarter GAAP earnings from continuing operations of $2.34 per share, up 2% from the prior year.
Comparable EPS, which excludes non-recurring items, rose 3% to $2.54, comfortably beating the analyst consensus of $2.27.
Total revenue for the quarter reached $3.1 billion, consistent with 2025 levels, while operating revenue (a non-GAAP measure excluding fuel and subcontracted transportation) held steady at $2.6 billion.
The company attributed the earnings growth primarily to its ongoing share repurchase program and the execution of strategic initiatives, which helped offset lower utilization in certain segments.
Management’s decision to hike the 2026 outlook was the focal point of the report.
Ryder now expects full-year comparable EPS to fall between $14.05 and $14.80, up from its previous range of $13.45 to $14.45.
The company also maintained its forecast for a return on equity (ROE) of 17% to 18%, a target that management says reflects a more resilient earnings profile than in previous cycles.