R earnings analysis
What we found in R's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Ryder delivered Q2 revenue of $3.347 billion and comparable EPS of $3.73, exceeding consensus by $55 million and $0.06, respectively. Revenue improved both sequentially and year over year, and management raised FY2026 comparable EPS guidance to $14.40-$14.80 while maintaining approximately 3% revenue-growth and $700 million-$800 million free-cash-flow expectations. The supplied filing text does not provide sufficient current-quarter gross margin, operating margin, segment revenue, balance-sheet working-capital, or cash-flow detail to quantify those trends; profitability also included a $10 million impairment and leverage was 259%.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue accelerated sequentially and year over year
- Q2 revenue was $3.347 billion, up $217 million (6.9%) from $3.130 billion in Q1 2026 and up $157 million (4.9%) from $3.190 billion in Q2 2025.
- Comparable EPS exceeded consensus
- Comparable EPS was $3.73, above the $3.67 consensus estimate by $0.06 (1.6%). GAAP diluted EPS was $3.40.
- Share repurchases remained active
- The company repurchased 420,619 shares during Q2 at an average price of $233.41 per share, including 419,378 shares under publicly announced programs.
- Material repurchase capacity remains
- At June 30, 2026, 2,874,481 shares remained available for repurchase under the discretionary and anti-dilutive programs.
- Full-year comparable EPS outlook raised
- Management raised FY2026 comparable EPS guidance to $14.40-$14.80 while retaining a $700 million-$800 million free-cash-flow outlook.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Intangible-asset impairment reduced GAAP earnings
- Q2 included a $10 million intangible-asset impairment, which reduced reported profitability and contributed to GAAP EPS of $3.40 being below comparable EPS of $3.73.
- Elevated leverage constrains capital flexibility
- Leverage was reported at 259%, leaving capital allocation and additional buybacks dependent on balance-sheet leverage, market conditions, acquisitions and stock price.
- No material risk-factor updates disclosed
- Ryder stated that there were no material changes to the risk factors in its 2025 Form 10-K, filed February 11, 2026; therefore, the Q2 filing does not identify a newly elevated risk factor.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $3.4
What they said about what is next.
FY2026 comparable EPS outlook was raised to $14.40-$14.80. Management maintained its approximately 3% total and operating-revenue growth outlook and $700 million-$800 million free-cash-flow outlook; the filing extract supplied does not provide an absolute revenue range.
The filing reads about the same as the one before it.
What came before.
- 10-Q · April 23, 2026
- Ryder reported Q1 results with total revenue of $3,126,000,000 and GAAP diluted EPS of $2.54, beating the EPS estimate of $2.28 while missing the revenue estimate of $3,146,882,440 by $20,882,440. The 10-Q discloses…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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