Ryder's 2Q net earnings jump

    July 24, 2002
    Third party logistics provider Ryder System said its second-quarter net earnings jumped 48% to $29.5 million on revenues of $1.21 billion, up from net earnings of $19.9 million on revenues of $1.29 billion last year. Revenue for the second quarter declined 7%, however, due mainly to continuing slow economic conditions in the U.S. and other parts of the world, Miami-based Ryder said, which led to reduced
    Third party logistics provider Ryder System said its second-quarter net earnings jumped 48% to $29.5 million on revenues of $1.21 billion, up from net earnings of $19.9 million on revenues of $1.29 billion last year.

    Revenue for the second quarter declined 7%, however, due mainly to continuing slow economic conditions in the U.S. and other parts of the world, Miami-based Ryder said, which led to reduced transportation miles run and continued weak leasing and rental demand.

    Ryder added that the economic downturn caused volume reductions in Ryder's dedicated contract carriage business segment, along with reduced demand for supply chain solutions services.

    About the Author

    Sean Kilcarr | Editor in Chief

    Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.

     

    Voice your opinion!

    To join the conversation, and become an exclusive member of FleetOwner, create an account today!

    Continue Reading

    Sponsored Recommendations

    Downtime is expensive. This guide shows you how to keep your eet running, reduce repair surprises, and protect your margins—because when your trucks aren’t moving, you’re not...
    Learn how fast oil changes can optimize vehicle downtime for fleet owners. Improve revenue and employee productivity while ensuring customer satisfaction with efficient maintenance...
    Unlock proven strategies to streamline operations, lead your team, and keep your eet moving forward – all in one guide.
    Commercial fleets bear a heavy burden from economic uncertainty, operational costs, and litigation risks. In-cabin video technology offers opportunities to reduce fleet expenses...