Ryder leases, rents and maintains trucks and runs logistics for companies, largely on borrowed money. In the first nine months of 2026, the cash left after fleet spending improved, partly because of the timing of replacements.
The truck unloading at a supermarket may not belong to the supermarket at all. Many companies would rather not buy, repair and later sell their own vehicles, so they hand that job to Ryder. Mostly in the United States, Ryder leases and rents commercial trucks with maintenance included. It also manages customers' supply chains and provides dedicated transportation services.
Fleet management is the largest business and the base the other two draw on. Under a full-service lease, sold as ChoiceLease, a customer pays over the contract's life for a truck plus its upkeep. Ryder buys the truck, largely with borrowed money, services it and sells it when the contract ends. What it keeps depends on maintenance costs, the interest on its debt and the price the used truck fetches. Supply chain and dedicated transport contracts have grown faster and widen the steady, contractual core. Commercial truck rental and used truck sales are the transactional part, more exposed to swings in the economy. Interest on the debt that funds the fleet is a permanent cost, and it is one reason profit at the bottom stays thin.
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