Ryder Expands Tractor Rental Fleet by 10% Amid Freight Market Recovery

Ryder System is boosting its tractor rental fleet by 10% in the fourth quarter of 2026 as freight conditions improve. The expansion follows a previous 30% reduction in the rental fleet and a shift toward offering more straight trucks than tractors in recent quarters. Tom Havens, head of Ryder’s Fleet Management Solutions division, noted that a significant tractor order has already been placed, while 2027 fleet additions remain under review. Chief Financial Officer Cristina Gallo-Aquino stated that Ryder’s 2026 forecast for rental capital expenditures more than doubled, increasing to $500 million from $200 million a quarter earlier due to the tractor purchases. The average size of Ryder’s commercial rental fleet dropped 12% year on year to 29,400 vehicles in the third quarter compared to 33,300 vehicles in Q3 2025. However, rental utilization climbed to 77% from 70%, marking the highest utilization seen since 2022. Ryder CEO John Diez reported that Q3 revenue reached $3.433 billion, up 8% from $3.171 billion a year earlier, with profit totaling $162 million compared to $138 million previously. Fleet Management Solutions revenue increased 10% to $1.616 billion from $1.465 billion. Used vehicle sales rose 4% year over year to 5,100 units, while used tractor pricing jumped 19% and truck pricing rose 5%. Ryder raised its full-year 2026 comparable earnings per share forecast to a range of $14.85 to $15.05, up from $14.40 to $14.80. Ryder ranks No. 7 on the Transport Topics Top 100 list of for-hire fleets in North America, No. 8 among logistics providers, and No. 40 on the global freight companies list.