Investors liked the earnings report from Ryder, even though its gains over the 12 months were limited.
On panels for both small and large carriers, the talk at the Truckload Carriers Association was of coping with a freight recession as a turnaround remains elusive.
Ryder System’s fourth-quarter used vehicle sales were flat from the third quarter but down from a year ago.
Ryder’s 2023 profitability forecast assumes lower numbers due to falling used truck prices.
The fourth-quarter average sales price for used tractors and trucks at Ryder was up more than 100%.
