Ryder Reports Strong Second Quarter 2025 Results, Significantly Raises Free Cash Flow Forecast

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October 01, 2025

Ryder System, Inc. reported second-quarter 2025 comparable earnings per share (EPS) of $3.32, an 11% increase from $3.00 in the prior year. GAAP diluted EPS from continuing operations was $3.15, up from $2.83 year-over-year, marking the third consecutive quarter of double-digit EPS growth.

Total revenue for the quarter was $3.189 billion, consistent with the prior year, while operating revenue increased 2% to $2.610 billion. Supply Chain Solutions (SCS) delivered record earnings, up 16% year-over-year, marking its ninth consecutive quarter of earnings growth, driven by strategic initiatives and new business.

Ryder significantly increased its full-year 2025 free cash flow forecast to a range of $900 million to $1 billion, a $500 million increase from previous guidance. This substantial revision is primarily due to lower expected capital spending and the permanent reinstatement of 100% tax bonus depreciation. The company also narrowed its full-year 2025 comparable EPS forecast to $12.85 to $13.30 and revised its adjusted ROE to 17%.

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