Ryder System, Inc. (NYSE:R) Q3 2024 Earnings Conference Call October 24, 2024 11:00 AM ET

Company Participants

Calene Candela – Vice President, Investor Relations
Robert Sanchez – Chairman and Chief Executive Officer
John Diez – Executive Vice President and Chief Financial Officer
Tom Havens – President, Fleet Management Solutions
Steve Sensing – President, Supply Chain Solutions and Dedicated Transportation Solutions

Conference Call Participants

Jordan Alliger – Goldman Sachs
Christyne McGarvey – Morgan Stanley
Jeff Kauffman – Vertical Research Partners
Scott Group – Wolfe Research
Brian Ossenbeck – JPMorgan
Daniel Imbro – Stephens

Operator

Good morning, and welcome to the Ryder System Third Quarter 2024 Earnings Release Conference Call. All lines are in a listen-only mode until after the presentation. Today’s call is being recorded. If you have any objections, please disconnect at this time.

I would now like to introduce Ms. Calene Candela, Vice President, Investor Relations for Ryder. Ms. Candela, you may begin.

Calene Candela

Thank you. Good morning, and welcome to Ryder’s third quarter 2024 earnings conference call. I’d like to remind you that during this presentation, you’ll hear some forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive, market, political and regulatory factors.

More detailed information about these factors and a reconciliation of each non-GAAP financial measure to the nearest GAAP measure is contained in this morning’s earnings release, earnings call presentation, and in Ryder’s filings with the Securities and Exchange Commission, which are available on Ryder’s website.

Presenting on today’s call are Robert Sanchez, Chairman and Chief Executive Officer; and John Diez, Executive Vice President and Chief Financial Officer. Additionally, Tom Havens, President of Fleet Management Solutions; and Steve Sensing, President of Supply Chain Solutions and Dedicated Transportation Solutions, are on the call today and available for questions following the presentation.

At this time, I’ll turn the call over to Robert.

Robert Sanchez

Good morning, everyone, and thanks for joining us. The Ryder team delivered another quarter of solid results despite an ongoing freight recession and market conditions in used vehicle sales and rental that remain weak. The key driver of our outperformance relative to prior cycles continues to be earnings growth in our contractual lease, dedicated and supply chain businesses, which continues to demonstrate the effectiveness of our balanced growth strategy.