Ryder Explained

Ryder System, Inc.
Type:Public
Industry:Transportation
Founded: in Miami, Florida, U.S.
Founder:James Ryder
Hq Location:Coral Gables, Florida, U.S.
Key People:
[1]

[2]
Services:


Num Employees:39,900[3]
Num Employees Year:2019
Footnotes:[4]

Ryder System, Inc. is an American transportation and logistics company. It is known for its fleet of commercial rental trucks.[5]

Ryder specializes in 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.[5] The company is headquartered in Coral Gables, Florida, and operates in the United States and United Kingdom.

History

Ryder was founded in Miami, Florida in 1933 by James Ryder as a concrete hauling company with one truck, a 1931 Model "A" Ford.[6] In 1938, Ryder signed a five-truck lease deal with Champagne Velvet Beer, increasing Ryder's fleet to 20 trucks.[7] 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.[8] In the 1960s and 1970s, Ryder expanded into distribution and supply chain. James Ryder retired in 1978.

The Ryder Charitable Foundation was established in 1984. Since that time it has supported :Women in Trucking,[9] Truckers Against Trafficking,[10] the United Way,[11] Hiring Our Heroes,[12] and Big Brothers Big Sisters.[13] [14] the Jackson health Foundation,[15] and the American Red Cross.[16] In 1996, Ryder decided to focus on commercial truck rental and leasing, and exited the "one-way" business arena; which was purchased by equity firm Questor Partners Fund LP, who later sold it to Budget Truck Rental in June 1998.[17] [18]

In December 2011, the non-partisan organization Public Campaign criticized Ryder for spending $960,000 on lobbying and not paying any taxes during 2008–2010, instead getting $46 million in tax rebates, despite making a profit of $627 million.[19]

In 2017 Ryder launched electric truck rentals in California, and Chicago, Illinois. The trucks were equipped with 70kWh batteries, which had an estimated range of 100 miles.[20] Ryder is the exclusive maintenance provider for Workhorse's electric fleet in North America, first launched in the San Francisco Bay area in 2018.[21] [22]

Business

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,[23] with profits before income taxes of $42.27 million.[24] 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.[25]

Fleet management

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. 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.[26] Support services consist of insurance, vehicle permits, and fuel.

In April 2011 Ryder bought B.I.T. Leasing, from Hayward, California.[27] Also in 2011 it acquired the full service leasing and rental business of Carmenita Leasing, Inc., located in Santa Fe Springs, California,[28] and the full service lease, contract maintenance, commercial rental and dedicated contract carriage business, The Scully Companies, Inc., based in Fontana, California.[29]

Launched in April 2018,[30] 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[31] and further expanded in Texas in February 2020.[32]

As of December 31, 2019, Ryder owned or leased 213,800 vehicles. As of January 2020, they were the largest truck supplier in the US.[33]

Supply chain

Ryder' supply chain operations accounted for 28% of its revenue for a total of $649 million for Q4 2019.[34] 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.

In December 2010 Ryder bought TLC, a supply chain services company based in Holland, Michigan.[35]

Dedicated Transportation Solutions

Ryder Dedicated Transportation Solutions accounted for 15% of its revenue for a total of $346 million for Q4 2019. 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.[36] The company expanded its Last Mile Delivery service for bulky and large goods to 11 markets in North America.[37] 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.[38] In May 2020 the company added food-grade capabilities to its e-commerce service.[39]

Acquisitions and partnerships

In 2008, Ryder acquired three regional competitors: Pollock NationaLease, Lily Transportation and Gator Leasing.[40]

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.[41] In May of that year, Ryder introduced RyderGyde™, a smartphone app for drivers and fleet managers to monitor and manage their fleets.[42] In November 2018, the company ordered 1,000 electric trucks to add to their fleet.[43] In May 2020 RyderShare was introduced as a collaborative logistics platform.[44]

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.[45] In June 2020 Ryder began a partnership with Turvo, a provider of collaborative logistics software[46]

In January 2022, Ryder completed the acquisition of Whiplash (formerly Port Logistics Group) for approximately $480 million in cash.[47]

In October 2023, Ryder acquired Impact Fulfillment Services to add contract packaging and manufacturing capabilities.[48] [49]

In February 2024, Ryder acquired Cardinal Logistics, a North Carolina-based company.[50] [51]

Locations

Previously Ryder had its headquarters in Doral, Florida.[52] As of December 31, 2019, Ryder had 524 locations in 50 US States and Puerto Rico. This includes a Shared Services Center in Alpharetta, GA[53] 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.[54] 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.[55] 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.[56]

Awards and recognition

Further reading

Notes and References

  1. Web site: Parker. Garrett. 2019-06-07. 10 Things You Didn't Know about Ryder System CEO Robert E. Sanchez. 2020-07-28. Money Inc. en-US.
  2. News: Federman. Amy. 2021-05-06. Ryder Names New Chief Financial Officer and New President of its Fleet Management Solutions Business. en-US. Business Wire. 2021-05-06.
  3. Web site: SEC Form 10-K . SEC.GOV . 12 July 2020 . 31 December 2019.
  4. Web site: Ryder Media Resources. Ryder System, Inc.. July 16, 2017. https://web.archive.org/web/20170405013328/https://ryder.com/newsroom/media-resources. April 5, 2017. live.
  5. Web site: Ryder System Inc Company Profile. Reuters. August 8, 2008. https://web.archive.org/web/20080528094904/http://www.reuters.com/finance/stocks/companyProfile?symbol=R.N. May 28, 2008. live.
  6. Web site: Ryder History. Ryder System, Inc.. August 7, 2008. https://web.archive.org/web/20061229101417/http://www.ryder.com/aboutus_cinfo_history.shtml. December 29, 2006. live.
  7. Web site: History of Ryder's Trucking and Logistics . 2018-07-16 . https://web.archive.org/web/20180716170112/https://ryder.com/about-us/history . 2018-07-16 . live .
  8. Web site: Ryder System, Inc. Company History. Funding Universe. May 7, 2011. https://web.archive.org/web/20120123202359/http://www.fundinguniverse.com/company-histories/Ryder-System-Inc-Company-History.html. January 23, 2012. live.
  9. Web site: Staff. Women In Trucking. Women In Trucking Association Continues Partnership with Ryder System. 2020-08-16. www.womenintrucking.org. en.
  10. Web site: 2020. Truckers Against Trafficking. 16 August 2020.
  11. Web site: 2016-11-04. Ryder Sets Employee Giving Record for United Way. 2020-08-16. Fuels Market News. en-US.
  12. Web site: 14 November 2011. TRALA and Ryder supporting Hire Our Heroes program. 2020-08-16. www.fleetowner.com.
  13. Web site: Our Board. 2020-08-16. Big Brothers Big Sisters Miami. en-US.
  14. Web site: Dreamakers. 2020-08-16. Big Brothers Big Sisters Miami. en-US.
  15. Web site: Jackson South Medical Center Celebrates the Naming of its New Ryder Trauma Center. 2020-08-16. Jackson Health System. en-US.
  16. Web site: Ryder System, Inc.. 2020-08-16. www.redcross.org. en.
  17. Web site: Truck Rental and Leasing Without Drivers market report . https://web.archive.org/web/20101028054346/http://business.highbeam.com/industry-reports/personal/truck-rental-leasing-without-drivers. dead. 2010-10-28. highbeam.com. 2017-10-11.
  18. Web site: Budget To Acquire Ryder Deal Would Create No. 2 U.S. Truck, Car Rental Firm . 2020-09-20. www.spokesman.com.
  19. Web site: Portero. Ashley. 30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008–2010. International Business Times. December 26, 2011. https://web.archive.org/web/20120107173713/http://www.ibtimes.com/articles/264481/20111209/30-major-u-s-corporations-paid-lobby.htm. live. January 7, 2012.
  20. News: Ryder will start renting electric vans in New York, California, and Illinois. The Verge. 2017-11-03. https://web.archive.org/web/20171103181830/https://www.theverge.com/2017/11/3/16598208/ryder-chanje-electric-van-rentals-new-york-california. 2017-11-03. live.
  21. Web site: 3 May 2017. Ryder partners with Workhorse Group. 2020-08-12. www.fleetowner.com.
  22. Web site: Kane. Mark. 30 March 2018. Workhorse N-GEN Electric Van Hits The Road. 2020-08-12. InsideEVs. en.
  23. Web site: Ryder System Revenue 2006-2020 R. 2020-07-09. www.macrotrends.net.
  24. Web site: Ryder System, Inc.. 9 July 2020. dun & bradstreet.
  25. Web site: 31 December 2019. SEC Annual Report. 9 July 2020. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Form 10-K. 27.
  26. Web site: Ryder Expands and Refreshes Its Rental Fleet with 6,700 New Trucks, Tractors, and Trailers. www.businesswire.com. 15 February 2011 . en. 2017-10-11. https://web.archive.org/web/20171012044826/http://www.businesswire.com/news/home/20110215005422/en/Ryder-Expands-Refreshes-Rental-Fleet-6700-Trucks. 2017-10-12. live.
  27. News: Ryder Acquires Portfolio of B.I.T. Leasing. 2017-10-11. https://web.archive.org/web/20171012094741/http://www.truckinginfo.com/channel/aftermarket/news/story/2011/04/ryder-acquires-portfolio-of-bit-leasing.aspx. 2017-10-12. live.
  28. Web site: About Ryder . 2008-08-07 . https://web.archive.org/web/20061229101417/http://www.ryder.com/aboutus_cinfo_history.shtml . 2006-12-29 . live .
  29. Web site: Ryder completes acquisition of The Scully Companies Inc.. www.logisticsmgmt.com. 2017-10-11. https://web.archive.org/web/20160421170710/http://www.logisticsmgmt.com/article/ryder_completes_acquisition_of_the_scully_companies_inc. 2016-04-21. live.
  30. Web site: 2018-04-02. Ryder launches Airbnb-like sharing platform for truck equipment. 2020-07-09. FreightWaves. en-US.
  31. Web site: Huff. Aaron. 24 January 2019. Ryder expands truck sharing platform to Florida. 2020-07-09. www.ccjdigital.com.
  32. Web site: 2020-02-03. Ryder Expands Truck-Sharing Program COOP. 2020-07-09. Transport Topics. en.
  33. Web site: Wile. Rob. 31 January 2020. By land, sea and air, Super Bowl-bound snowbirds are landing — and spending. 9 July 2020. Miami Herald.
  34. Web site: Ryder Reports Record Revenue of $8.9 Billion in 2019, Up 6.1%; Earnings Include Previously Announced Residual Value Change Impact. 2020-07-14. investors.ryder.com. en-US.
  35. News: Ryder acquires big Holland-based warehouser with 2,500 employees nationwide. MLive.com. 2017-10-11. en-US. https://web.archive.org/web/20171012044425/http://www.mlive.com/business/west-michigan/index.ssf/2010/12/ryder_acquires_big_holland-bas.html. 2017-10-12. live.
  36. Web site: Ryder Relaunches Dedicated Transportation Solution. 2020-07-14. investors.ryder.com. en-US.
  37. Web site: Ryder rolls out last-mile expansion plans. 2020-07-14. www.logisticsmgmt.com.
  38. Web site: Ryder announces e-commerce fulfillment solution. 2020-07-14. Supply Chain Dive. en-US.
  39. Web site: 2020-05-20. Ryder Expands E-Commerce Fulfillment Network with Food-Grade Capabilities and Additional Locations as Consumer Trends Evolve. 2020-07-14. www.businesswire.com. en.
  40. Web site: Writer . Sarah Talalay Staff . Ryder buys trucking firm Gator Leasing . 2020-07-28 . Sun-Sentinel.com . en-US.
  41. Web site: 2018-04-03 . Ryder Acquires Last-Mile Delivery Carrier MXD Group . 2020-07-28 . Transport Topics . en.
  42. Web site: 2018-05-23 . Ryder Introduces New Commercial Management Fleet App . 2020-07-28 . Transport Topics . en.
  43. Web site: Louis . Billy Jean . 20 November 2018 . Ryder places order for 1,000 electric trucks . 2020-07-28 . www.bizjournals.com.
  44. News: Smith . Jennifer . 2020-05-27 . Companies Lean on Freight Technology to Untangle Scrambled Supply Chains . 2020-08-04 . Wall Street Journal . en-US . 0099-9660.
  45. Web site: Adler . Alan . 2020-01-02 . Ryder partners to build up electric vehicle infrastructure . 2020-08-12 . FreightWaves . en-US.
  46. Web site: 4 June 2020 . Turvo Partners with Ryder for Real-Time Visibility and Collaboration . 2020-08-12 . www.dcvelocity.com . en.
  47. Web site: Ryder Completes Two Acquisitions to Expand E-Commerce Fulfillment Network and Add Multi-Client Warehousing Capability . 2022-05-14 . investors.ryder.com . en-US.
  48. Web site: 2023-10-23 . Ryder acquires Impact Fulfillment Services . 2024-02-22 . Commercial Carrier Journal . en-us.
  49. Web site: Adler . Alan . 2023-10-23 . Ryder acquires IFS to boost supply chain business . 2024-02-22 . FreightWaves . en-US.
  50. Web site: 2024-02-01 . Ryder acquires Cardinal Logistics . 2024-02-22 . Commercial Carrier Journal . en-us.
  51. Web site: Kingston . John . 2024-02-01 . Ryder buys Cardinal Logistics, significantly growing its dedicated business . 2024-02-22 . FreightWaves . en-US.
  52. "Contact Ryder." Ryder. February 29, 2000. Retrieved on January 9, 2010.
  53. Web site: Ryder+Shared+Services+Center in Alpharetta, Georgia Business Profile Infofree.com. 2020-07-20. Infofree.
  54. Web site: 2018-01-03. Ryder opens new logistics center in Ontario. 2020-07-28. Truck News. en-US.
  55. Web site: 12 February 2019. Ryder opens new facilities for latest e-commerce offering. 2020-07-28. www.ccjdigital.com.
  56. Web site: Ryder rolls out increased last mile and food-grade capabilities. 2020-08-04. www.logisticsmgmt.com.
  57. Web site: Newsweek. 2019-11-20. America's Most Responsible Companies 2020. 2020-08-23. Newsweek. en.
  58. Web site: Ryder System. 2020-08-23. Fortune. en.
  59. Web site: Ryder System. 2020-08-23. Fortune. en.
  60. Web site: Ryder System. 2020-08-23. Fortune. en.
  61. Web site: Military Friendly – Military Friendly. 2020-08-23. www.militaryfriendly.com.
  62. Web site: Staff. Women In Trucking. Top Companies for Women to Work For in Transportation Named by WIT. 2020-08-23. www.womenintrucking.org. en.
  63. Web site: Welcome to Ryder System. 23 August 2020. The U.S. Navy Reservere cognized Ryder as one of America’s Outstanding Navy Reserve Employers in 2019.

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