Ryder System (R) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Ryder System published the results on October 22, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Ryder System reports EPS two ways: GAAP, under the accounting rules every US filer follows, and comparable EPS (non-GAAP), which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• EPS and net earnings are from continuing operations, the basis Ryder leads with. Including discontinued operations, diluted EPS was $4.15 against $3.32.
• Segment revenues are shown before intersegment eliminations of $293 million, which Ryder reports as its own line.

Source: Ryder Q3 2026 results, October 22, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Ryder System splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Ryder System's Fleet Management Solutions revenue was $1.6 billion in Q3 2026, up 10% from $1.5 billion in Q3 2025, 47% of total revenue.
• Ryder System's Supply Chain Solutions revenue was $1.5 billion in Q3 2026, up 9% from $1.4 billion in Q3 2025, 44% of total revenue.
• Ryder System's Dedicated Transportation Solutions revenue was $606 million in Q3 2026, up 6% from $570 million in Q3 2025, 18% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Ryder System said:

“FY26 Comparable EPS (non-GAAP) $14.85 - $15.05”

“4Q26 Comparable EPS (non-GAAP) $4.25 - $4.45”

“4Q26 and full-year 2026 GAAP EPS forecasts include estimated non-cash pension settlement charges of $4.30 related to the transfer of our U.K. and Canadian defined benefit pension plan obligations to insurance companies.”

“we are increasing our full-year investment in the rental fleet to $500 million, up $300 million from our prior forecast.”

Source: Ryder Q3 2026 release, Oct 22, 2026.

This is the company's own guidance as of Oct 22, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the R forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenue and diluted EPS from continuing operations (GAAP), each as first reported in that quarter's release.

We do not hold a confirmed date for Ryder System's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 22, 2026

Ryder System reports three segments, and each sells to the others, so segment revenues are shown before $293 million of eliminations. In Q3 2026 Fleet Management Solutions brought in $1,616 million, Supply Chain Solutions $1,504 million and Dedicated Transportation Solutions $606 million, for total revenue of $3,433 million, up 8% from $3,171 million. (Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026)

Fuel is a large pass-through. Ryder said total revenue rose because of higher operating revenue and higher fuel prices passed through to customers. Fuel services revenue in Fleet Management Solutions rose 48% to $272 million. Operating revenue, Ryder's non-GAAP measure that excludes fuel and subcontracted transportation, was $2,759 million, up 6%. (Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026; Ryder Form 10-Q, Q3 2026, Oct 22, 2026)

Inside Fleet Management Solutions, ChoiceLease, Ryder's full-service truck leasing product, generated $913 million, commercial rental $244 million and SelectCare and other $187 million. Rental power fleet utilization was 77% against 70% a year earlier, on a 12% smaller average fleet, and used truck and tractor prices rose 5% and 19% from a year earlier. ChoiceLease contracts typically run three to seven years for trucks and tractors and ten years for trailers, according to the 10-K. (Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026; Ryder Form 10-Q, Q3 2026, Oct 22, 2026; Ryder Form 10-K, 2025, Feb 11, 2026)

Supply Chain Solutions revenue by industry was $560 million from omnichannel retail, $394 million from automotive, $305 million from consumer packaged goods and $245 million from industrial and other. Ryder said operating revenue in the segment reflected new business and higher volumes and pricing, partly offset by lost business in automotive. Dedicated Transportation Solutions operating revenue fell 1% because of a lower fleet count, partly offset by higher pricing. (Ryder Form 10-Q, Q3 2026, Oct 22, 2026; Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026)

Ryder is almost entirely a North American business. Of 2025 total revenue of $12,665 million, $11,782 million came from the United States, $548 million from Canada and $335 million from Mexico. (Ryder Form 10-K, 2025, Feb 11, 2026)

Ryder's GAAP diluted EPS from continuing operations was $4.16 in Q3 2026, up 25% from $3.33, and comparable EPS was $4.33, up 21% from $3.57. Comparable EPS adds back non-operating pension costs, which were $0.17 a share in both quarters, and in the year-ago quarter $0.07 of other items. Ryder said the increase came from higher earnings in Fleet Management Solutions and share repurchases. (Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026)

Buybacks cut the share count. Diluted weighted average shares were 38.8 million against 41.6 million a year earlier. Ryder repurchased 1.7 million shares for $372 million in the first nine months of 2026, 0.2 million of them for $40 million in the third quarter. (Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026; Ryder Form 10-Q, Q3 2026, Oct 22, 2026)

The effective tax rate on continuing operations was 28.1% against 27.1%, and the comparable rate 27.7% against 25.6%. Ryder attributed the increase to a discrete stock-based compensation tax benefit in the prior year. (Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Ryder raised its full-year 2026 comparable EPS forecast to $14.85 to $15.05 and forecast Q4 2026 comparable EPS of $4.25 to $4.45. GAAP EPS forecasts are much lower, $9.75 to $9.95 for the year and -$0.15 to $0.05 for Q4, because they include about $4.30 a share of non-cash pension settlement charges from transferring its U.K. and Canadian defined benefit pension obligations to insurers. (Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026)

Ryder kept its forecasts for 3% operating revenue growth, 5% total revenue growth, $2.6 billion of operating cash flow, $700 million to $800 million of free cash flow and $2.4 billion of capital expenditures, and raised adjusted ROE to 18% to 19%. It is raising its 2026 rental fleet investment to $500 million, up $300 million from the prior forecast, to prepare for higher expected rental demand in 2027. (Ryder Q3 2026 release (Form 8-K, Exhibit 99.1), Oct 22, 2026)

A consensus figure is the average of the models published by the analysts who cover Ryder System, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Ryder System's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning R is on is R a buy or a sell?, what analysts expect next is on the R forecast, and what the company does is on the Ryder System (R) stock page.

Every number on this page can be traced to a document Ryder System published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.