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Ryder rental revenue slips 2% in Q2 

Leasing sales rose 2% YoY

Johnnie Martinez IIbyJohnnie Martinez II
July 24, 2025
in Transportation
Reading Time: 4 mins read
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Commercial rental and leasing company Ryder System saw total revenue inch up in the second quarter as continued softness in rental- and used-vehicle sales limited growth created by strong supply chain performance and contractual earnings. 

Ryder’s total revenue rose 0.2% year over year to $3.2 billion in Q2, as the transportation services firm’s first-quarter growth strategy helped overcome soft market conditions, Chairman and Chief Executive Robert Sanchez said during today’s earnings call.  

“We are expecting long-term, secular trends that favor transportation and logistics outsourcing to remain strong,” he said. “We are also well positioned to benefit from increased industrial manufacturing in the U.S., as 93% of our revenue is generated here.” 

BY THE NUMBERS: Coral Gables, Fla.-based Ryder System reported in Q2:  

  • Rental revenue fell 2% YoY to $239 million;  
  • Leasing revenue rose 1.8% YoY to $871 million;  
  • Rental utilization was 70%, up 100 basis points YoY; 
  • Rental power fleet pricing rose 4% YoY;  
  • Used-vehicle sales totaled 6,200, up 3.3% YoY; 
  • Used-vehicle net sales landed at $2 million, compared with a $19 million loss in Q2 2024. 
  • Used tractor sales prices declined by 17%, down 2 percentage points compared to the previous year; and 
  • Used truck sales prices also declined by 17%, down 10 percentage points compared to the previous year. 

Big Picture

Ryder continues to experience a difference between its contractual portfolio, which includes leasing and supply chain operations, and transactional operations, such as rental and used-vehicle sales, as the contractual portfolio grows while the transactional operations remain muted. 

Ryder’s contractual earnings are driving growth and offsetting continued softness in rentals and used-vehicle sales, which remain pressured by lingering market uncertainty, Executive Vice President and Chief Financial Officer Cristina Gallo-Aquino said during the earnings call.  

“Rental results for the quarter reflect market conditions that remain weak,” she said. “The sequential increase in rental demand for the quarter was in line with the prior year and below historical trends as contemplated in our prior forecast.” 

MARKET REACTION: Shares of Ryder System [NYSE: R] were up 2.49% or $4.31 from market open to $177.13 as of market close today. It has a market capitalization of $7.14 billion. 

Check out our exclusive industry data here. 

Tags: earningsequipment financeLeasingRyder
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