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Ryder

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(Redirected from Ryder System Incorporated)
For other uses, see Ryder (disambiguation).
Ryder System, Inc.
Company typePublic
IndustryTransportation
Founded1933; 91 years ago (1933) in Miami, Florida, U.S.
FounderJames Ryder
HeadquartersCoral Gables, Florida, U.S.
Key people
Robert E. Sanchez
(president & CEO)[1]
John Diez
(EVP & CFO)[2]
ServicesFleet management
Supply chain management
Dedicated carrier
Cargo truck rental
RevenueIncrease US$8.925 billion (2019)
Decrease US$341.15 million (2019)
Decrease US$24.41 million (2019)
Total assetsDecrease US$1.562 billion (2019)
Total equityDecrease US$2.476 billion (2019)
Number of employees
39,900[3] (2019)
Websiteryder.com
Footnotes / references
[4][5]
A 2003–2007 Ryder Ford E-450
Ryder Ford Transit van in the United Kingdom
An Isuzu N-Series

Ryder System, Inc. is an American transportation and logistics company, specializing in truck rental and leasing, fleet management, supply chain management, and transportation management. It also offers full-service leasing, rental and maintenance, used vehicle sales, transportation management, professional drivers, e-commerce fulfillment, and last-mile delivery services.[6] The company is headquartered in Coral Gables, Florida, and operates in the United States and United Kingdom.

History

[edit]

Ryder was founded in Miami, Florida, in 1933 by James Ryder as a concrete hauling company with one truck, a 1931 Model "A" Ford.[7] In 1938, Ryder signed a five-truck lease deal with Champagne Velvet Beer, increasing Ryder's fleet to 20 trucks.[8] By the following year, the fleet had more than 50 trucks. This led to Ryder changing its focus from distribution to leasing. Ryder bought Great Southern Trucking Company in 1952. In 1955, Ryder System, Inc. was formed to combine Great Southern and Ryder Truck Rental. Ryder System went public in 1955.[9] In the 1960s and 1970s, Ryder expanded into distribution and supply chain. James Ryder retired in 1978.[7]

The Ryder Charitable Foundation was established in 1984. Since that time it has supported: Women in Trucking,[10] Truckers Against Trafficking,[11] the United Way,[12] Hiring Our Heroes,[13] and Big Brothers Big Sisters,[14][15] the Jackson health Foundation,[16] and the American Red Cross.[17]

A Ryder truck was used in the Oklahoma City Bombing on April 19, 1995. [18]

In 1996, Ryder decided to focus on commercial truck rental and leasing, and exited the "one-way" consumer truck rental business; which was purchased by equity firm Questor Partners Fund LP, who later sold it to Budget Truck Rental in June 1998.[19][20]

In December 2011, the non-partisan organization Public Campaign criticized Ryder for spending $960,000 on lobbying and not paying any taxes during 2008 to 2010, instead getting $46 million in tax rebates, despite making a profit of $627 million.[21]

In 2017 Ryder launched electric truck rentals in California, and Chicago, Illinois. The trucks were equipped with 70 kWh batteries, which had an estimated range of 100 miles.[22] Ryder is the exclusive maintenance provider for Workhorse's electric fleet in North America, first launched in the San Francisco Bay area in 2018.[23][24]

Business

[edit]

Ryder divides its business into three segments: Fleet Management Solutions, Supply Chain Solutions, and Dedicated Transportation Solutions. As of December 31, 2019, the total company revenue was $8.93 billion,[25] with profits before income taxes of $42.27 million.[26] The number of full-time employees, as of December 2019 was 39,900 globally, with 38,600 in North America and 1,300 in Europe. The company employs approximately 9,500 drivers, 6,300 technicians and have approximately 25,600 hourly employees in the U.S.  About 4,300 of those are organized by labor unions.[27]

Fleet management

[edit]

Ryder's fleet management business is its largest business segment, accounting for 61% of the company's total revenue of $2.3 billion, or $1.4 billion for Q4 of 2019.[28] This arm of the business does contract-based full-service leasing, contract maintenance, commercial rental and fleet support services. Under full-service leasing Ryder owns and maintains the trucks and the customer determines the destination. Commercial rentals are the white Ryder trucks which the contract customers can rent on a temporary basis. Ryder grew its North American rental fleet to nearly 30,000 vehicles in 2010 and 2011 raising the percentage of model year 2010 or newer vehicles in the fleet to more than 40 percent.[29] Support services consist of insurance, vehicle permits, and fuel.[27]

In April 2011 Ryder bought B.I.T. Leasing, from Hayward, California.[30] Also in 2011 it acquired the full service leasing and rental business of Carmenita Leasing, Inc., located in Santa Fe Springs, California,[31] and the full service lease, contract maintenance, commercial rental and dedicated contract carriage business, The Scully Companies, Inc., based in Fontana, California.[32]

Launched in April 2018,[33] the company operates a peer-to-peer truck-sharing platform, COOP, that allows owners of commercial vehicles to rent unused trucks and trailers to businesses. The program expanded to Florida in January 2019[34] and further expanded in Texas in February 2020.[35] COOP by Ryder expanded fleet management services and bulk rentals nationwide in 2022.[36]

As of December 31, 2019, Ryder owned or leased 213,800 vehicles.[27] As of January 2020, they were the largest truck supplier in the US.[37]

Supply chain

[edit]

Ryder's supply chain operations accounted for 28% of its revenue for a total of $649 million for Q4 2019.[28] This business consists of management of a customer's supply chain. Ryder managed over 50 million square feet (4,645,152 m2) of warehouse space on December 31, 2019.[27]

In December 2010 Ryder bought TLC, a supply chain services company based in Holland, Michigan.[38]

Dedicated Transportation Solutions

[edit]

Ryder Dedicated Transportation Solutions accounted for 15% of its revenue for a total of $346 million for Q4 2019.[28] This arm of the business conducts both leasing and supply chain management. In 2013, Ryder launched a new name and identity for this program called Ryder Dedicated.[39] The company expanded its Last Mile Delivery service for bulky and large goods to 11 markets in North America.[40] In February 2019 Ryder launched a program for e-commerce that allows manufacturers to ship directly to consumers instead of using third-party shipping for small to large products.[41] In May 2020 the company added food-grade capabilities to its e-commerce service.[42]

Acquisitions and partnerships

[edit]

In 2008, Ryder acquired three regional competitors: Pollock NationaLease, Lily Transportation and Gator Leasing.[43]

In April 2018, Ryder acquired Ohio-based MXD Group, an e-commerce fulfillment and last mile delivery provider with a network of 109 fulfillment centers across the United States and Canada.[44] In May of that year, Ryder introduced RyderGyde™, a smartphone app for drivers and fleet managers to monitor and manage their fleets.[45] In November 2018, the company ordered 1,000 electric trucks to add to their fleet.[46] In May 2020 RyderShare was introduced as a collaborative logistics platform.[47]

In January 2020 Ryder began a partnership with In-Charge Energy, Inc. and ABB, a provider of industrial automation and technology to provide electric vehicle charging to Ryder's customers.[48] In June 2020 Ryder began a partnership with Turvo, a provider of collaborative logistics software[49]

In January 2022, Ryder completed the acquisition of Whiplash (formerly Port Logistics Group) for approximately $480 million in cash.[50]

In October 2023, Ryder acquired Impact Fulfillment Services to add contract packaging and manufacturing capabilities.[51][52]

In February 2024, Ryder acquired Cardinal Logistics, a North Carolina–based company.[53][54]

Locations

[edit]

Previously Ryder had its headquarters in Doral, Florida.[55] As of December 31, 2019, Ryder had 524 locations in 50 US States and Puerto Rico.[27] This includes a Shared Services Center in Alpharetta, Georgia,[56] that employs over 500 people and provides support to all FMS operations. Ryder opened a new logistics center in London, Ontario, Canada, in January 2018.[57] The company announced the planned opening of two multi-client facilities in Perris, California and Fort Worth, Texas, while expanding an already existing Ryder warehouse in Douglassville, Pennsylvania. The three facilities were expected to be fully operational by May 2019.[58] In May 2020 the company began to expand its e-commerce network with the opening of a new facility in Philadelphia and adding FDA approval for food-grade service to two other facilities in Perris, California and Dallas, Texas.[59]

Awards and recognition

[edit]
  • Newsweek World's Most Responsible Companies 2020[60]
  • FORTUNE World's Most Admired Companies 2018[61][dead link‍] and 2019[62][dead link‍]
  • FORTUNE 500 2019 and 2020[63][dead link‍]
  • Military Friendly Employer 2020[64]
  • Top Company for Women to Work for in Transportation 2019[65]
  • America's Outstanding Navy Reserve Employers 2019[66]

References

[edit]
  1. ^ Parker, Garrett (2019-06-07). "10 Things You Didn't Know about Ryder System CEO Robert E. Sanchez". Money Inc. Retrieved 2020-07-28.
  2. ^ Federman, Amy (2021-05-06). "Ryder Names New Chief Financial Officer and New President of its Fleet Management Solutions Business". Business Wire. Retrieved 2021-05-06.
  3. ^ "SEC Form 10-K". SEC.GOV. 31 December 2019. Retrieved 12 July 2020.
  4. ^ "Ryder Media Resources". Ryder System, Inc. Archived from the original on April 5, 2017. Retrieved July 16, 2017.
  5. ^ Financial Statements
  6. ^ "Ryder System Inc Company Profile". Reuters. Archived from the original on May 28, 2008. Retrieved August 8, 2008.
  7. ^ a b "Ryder History". Ryder System, Inc. Archived from the original on December 29, 2006. Retrieved August 7, 2008.
  8. ^ "History of Ryder's Trucking and Logistics". Archived from the original on 2018-07-16. Retrieved 2018-07-16.
  9. ^ "Ryder System, Inc. Company History". Funding Universe. Archived from the original on January 23, 2012. Retrieved May 7, 2011.
  10. ^ Staff, Women In Trucking. "Women In Trucking Association Continues Partnership with Ryder System". www.womenintrucking.org. Retrieved 2020-08-16.
  11. ^ "Truckers Against Trafficking". 2020. Retrieved 16 August 2020.
  12. ^ "Ryder Sets Employee Giving Record for United Way". Fuels Market News. 2016-11-04. Retrieved 2020-08-16.
  13. ^ "TRALA and Ryder supporting Hire Our Heroes program". www.fleetowner.com. 14 November 2011. Retrieved 2020-08-16.
  14. ^ "Our Board". Big Brothers Big Sisters Miami. Retrieved 2020-08-16.
  15. ^ "Dreamakers". Big Brothers Big Sisters Miami. Retrieved 2020-08-16.
  16. ^ "Jackson South Medical Center Celebrates the Naming of its New Ryder Trauma Center". Jackson Health System. Retrieved 2020-08-16.
  17. ^ "Ryder System, Inc". www.redcross.org. Retrieved 2020-08-16.
  18. ^ Serrano, Richard. "Agent Identifies McVeigh as Man Who Rented Truck". Los Angeles Times. Retrieved 26 August 2024.
  19. ^ "Truck Rental and Leasing Without Drivers market report". highbeam.com. Archived from the original on 2010-10-28. Retrieved 2017-10-11.
  20. ^ "Budget To Acquire Ryder Deal Would Create No. 2 U.S. Truck, Car Rental Firm". www.spokesman.com. Retrieved 2020-09-20.
  21. ^ Portero, Ashley. "30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008–2010". International Business Times. Archived from the original on January 7, 2012. Retrieved December 26, 2011.
  22. ^ "Ryder will start renting electric vans in New York, California, and Illinois". The Verge. Archived from the original on 2017-11-03. Retrieved 2017-11-03.
  23. ^ "Ryder partners with Workhorse Group". www.fleetowner.com. 3 May 2017. Retrieved 2020-08-12.
  24. ^ Kane, Mark (30 March 2018). "Workhorse N-GEN Electric Van Hits The Road". InsideEVs. Retrieved 2020-08-12.
  25. ^ "Ryder System Revenue 2006-2020 | R". www.macrotrends.net. Retrieved 2020-07-09.
  26. ^ "Ryder System, Inc". dun & bradstreet. Retrieved 9 July 2020.
  27. ^ a b c d e "SEC Annual Report" (PDF). UNITED STATES SECURITIES AND EXCHANGE COMMISSION Form 10-K. 31 December 2019. p. 27. Retrieved 9 July 2020.
  28. ^ a b c "Ryder Reports Record Revenue of $8.9 Billion in 2019, Up 6.1%; Earnings Include Previously Announced Residual Value Change Impact". investors.ryder.com. Retrieved 2020-07-14.
  29. ^ "Ryder Expands and Refreshes Its Rental Fleet with 6,700 New Trucks, Tractors, and Trailers". www.businesswire.com. 15 February 2011. Archived from the original on 2017-10-12. Retrieved 2017-10-11.
  30. ^ "Ryder Acquires Portfolio of B.I.T. Leasing". Archived from the original on 2017-10-12. Retrieved 2017-10-11.
  31. ^ "About Ryder". Archived from the original on 2006-12-29. Retrieved 2008-08-07.
  32. ^ "Ryder completes acquisition of The Scully Companies Inc". www.logisticsmgmt.com. Archived from the original on 2016-04-21. Retrieved 2017-10-11.
  33. ^ "Ryder launches Airbnb-like sharing platform for truck equipment". FreightWaves. 2018-04-02. Retrieved 2020-07-09.
  34. ^ Huff, Aaron (24 January 2019). "Ryder expands truck sharing platform to Florida". www.ccjdigital.com. Retrieved 2020-07-09.
  35. ^ "Ryder Expands Truck-Sharing Program COOP". Transport Topics. 2020-02-03. Retrieved 2020-07-09.
  36. ^ "Ryder Expands COOP Vehicle Sharing Platform Across US". Pymnts. 2022-02-22.
  37. ^ Wile, Rob (31 January 2020). "By land, sea and air, Super Bowl-bound snowbirds are landing — and spending". Miami Herald. Retrieved 9 July 2020.
  38. ^ "Ryder acquires big Holland-based warehouser with 2,500 employees nationwide". MLive.com. Archived from the original on 2017-10-12. Retrieved 2017-10-11.
  39. ^ "Ryder Relaunches Dedicated Transportation Solution". investors.ryder.com. Retrieved 2020-07-14.
  40. ^ "Ryder rolls out last-mile expansion plans". www.logisticsmgmt.com. Retrieved 2020-07-14.
  41. ^ "Ryder announces e-commerce fulfillment solution". Supply Chain Dive. Retrieved 2020-07-14.
  42. ^ "Ryder Expands E-Commerce Fulfillment Network with Food-Grade Capabilities and Additional Locations as Consumer Trends Evolve". www.businesswire.com. 2020-05-20. Retrieved 2020-07-14.
  43. ^ Writer, Sarah Talalay Staff. "Ryder buys trucking firm Gator Leasing". Sun-Sentinel.com. Retrieved 2020-07-28.
  44. ^ "Ryder Acquires Last-Mile Delivery Carrier MXD Group". Transport Topics. 2018-04-03. Retrieved 2020-07-28.
  45. ^ "Ryder Introduces New Commercial Management Fleet App". Transport Topics. 2018-05-23. Retrieved 2020-07-28.
  46. ^ Louis, Billy Jean (20 November 2018). "Ryder places order for 1,000 electric trucks". www.bizjournals.com. Retrieved 2020-07-28.
  47. ^ Smith, Jennifer (2020-05-27). "Companies Lean on Freight Technology to Untangle Scrambled Supply Chains". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-08-04.
  48. ^ Adler, Alan (2020-01-02). "Ryder partners to build up electric vehicle infrastructure". FreightWaves. Retrieved 2020-08-12.
  49. ^ "Turvo Partners with Ryder for Real-Time Visibility and Collaboration". www.dcvelocity.com. 4 June 2020. Retrieved 2020-08-12.
  50. ^ "Ryder spends $480 million to expand e-commerce fulfillment abilities | DC Velocity". www.dcvelocity.com. Retrieved 2024-08-30.
  51. ^ "Ryder acquires Impact Fulfillment Services". Commercial Carrier Journal. 2023-10-23. Retrieved 2024-02-22.
  52. ^ Adler, Alan (2023-10-23). "Ryder acquires IFS to boost supply chain business". FreightWaves. Retrieved 2024-02-22.
  53. ^ "Ryder acquires Cardinal Logistics". Commercial Carrier Journal. 2024-02-01. Retrieved 2024-02-22.
  54. ^ Kingston, John (2024-02-01). "Ryder buys Cardinal Logistics, significantly growing its dedicated business". FreightWaves. Retrieved 2024-02-22.
  55. ^ "Contact Ryder." Ryder. February 29, 2000. Retrieved on January 9, 2010.
  56. ^ "Ryder+Shared+Services+Center in Alpharetta, Georgia | Business Profile | Infofree.com". Infofree. Retrieved 2020-07-20.
  57. ^ "Ryder opens new logistics center in Ontario". Truck News. 2018-01-03. Retrieved 2020-07-28.
  58. ^ "Ryder opens new facilities for latest e-commerce offering". www.ccjdigital.com. 12 February 2019. Retrieved 2020-07-28.
  59. ^ "Ryder rolls out increased last mile and food-grade capabilities". www.logisticsmgmt.com. Retrieved 2020-08-04.
  60. ^ Newsweek (2019-11-20). "America's Most Responsible Companies 2020". Newsweek. Retrieved 2020-08-23.
  61. ^ "Ryder System". Fortune. Retrieved 2020-08-23.
  62. ^ "Ryder System". Fortune. Retrieved 2020-08-23.
  63. ^ "Ryder System". Fortune. Retrieved 2020-08-23.
  64. ^ "Military Friendly – Military Friendly". www.militaryfriendly.com. Retrieved 2020-08-23.
  65. ^ Staff, Women In Trucking. "Top Companies for Women to Work For in Transportation Named by WIT". www.womenintrucking.org. Retrieved 2020-08-23.
  66. ^ "Welcome to Ryder System" (PDF). Retrieved 23 August 2020. The U.S. Navy Reservere cognized Ryder as one of America's Outstanding Navy Reserve Employers in 2019

Further reading

[edit]
  • Saunders, Harris. Top Up or Down? The Origin and Development of the Automobile and Truck Renting and Leasing Industry—56 Years, 1916–1972. Birmingham, AL: Harris Saunders, 1972.
[edit]
Wikimedia Commons has media related to Ryder Truck.
  • Official website
  • Business data for Ryder System, Inc.:
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