Ryder System is expanding its tractor rental fleet by 10% in the fourth quarter of 2026 compared with the third quarter, executives said on the company's Q3 earnings call on Oct. 22. The Miami-based company had cut its rental fleet by 30% and shifted toward offering more straight trucks than tractors in recent quarters. The change follows an upturn in the freight market.
Tom Havens, who leads Ryder's Fleet Management Solutions division, said the company has already placed a significant tractor order. He said further additions are likely, with fleet size for 2027 still under review.
The average commercial rental fleet fell 12% year over year to 29,400 vehicles in the third quarter, from 33,300 a year earlier. Rental utilization rose to 77% from 70%. CEO John Diez said it was the highest third-quarter utilization since 2022 and expects it to stay near that level in the fourth quarter. Ryder raised its 2026 rental capital spending forecast to $500 million from $200 million a quarter earlier because of the tractor purchases.
Used vehicle sales rose 4% year over year to 5,100 units. Used tractor pricing climbed 19% year over year and truck pricing rose 5%. Ryder held 7,300 used vehicles at quarter end, down 14% from 8,500 a year earlier.
Fleet Management Solutions revenue increased 10% to $1.616 billion. Total company revenue reached $3.433 billion, up 8% from $3.171 billion, and profit was $162 million compared with $138 million a year earlier. Ryder raised its 2026 comparable earnings per share forecast to a range of $14.85 to $15.05 from $14.40 to $14.80.
Source: Transport Topics - https://www.ttnews.com/articles/ryder-earnings-q3-2026