Ryder System, Inc. (R Quick QuoteR - Free Report)  reported mixed third-quarter 2025 results wherein the company’s earnings surpassed the Zacks Consensus Estimate while revenues missed the mark.

Quarterly earnings per share of $3.57 surpassed the Zacks Consensus Estimate by a penny and improved 3.7% year over year, reflecting higher contractual earnings and share repurchases. The reported figure lies within the guided range of $3.45-$3.65.

Total revenues of $3.17 billion lagged the Zacks Consensus Estimate of $3.22 billion and marginally grew 0.1% year over year. Operating revenues (adjusted) of $2.61 billion, up 1% year over year, reflecting contractual revenue growth in Supply Chain Solutions (SCS) and Fleet Management Solutions (FMS).

Ryder chairman and chief executive officer, Robert Sanchez, stated, "Ryder delivered our fourth consecutive quarter of earnings-per-share growth. Earnings were in line with our expectations as operating performance from our resilient contractual businesses and benefits from our strategic initiatives more than offset the impact from freight market conditions. We are on track to deliver earnings growth in 2025 driven by benefits from our lease pricing and multi-year maintenance cost-saving initiatives, acquisition synergies, and optimization of our omnichannel retail network.”

Segmental Results

Fleet Management Solutions: Total revenues of $1.46 billion inched down 0.3% year over year. Operating revenues totaled $1.28 billion, almost in line on a year-over-year basis.

Supply-Chain Solutions: Total revenues of $1.38 billion inched up 5% year over year, reflecting increased operating revenues and subcontracted transportation costs passed through to customers. Operating revenues rose 4% year over year to $1.03 billion, owing to new business in omnichannel retail.

Dedicated Transportation Solutions: Total revenues of $570 million and operating revenues of $458 million declined 10% and 6%, year over year, respectively, owing to decreased subcontracted transportation costs and lower fleet count reflecting prolonged freight market downturn.

Liquidity

Ryder exited the third quarter with cash and cash equivalents of $189 million compared with $180 million at the end of the prior quarter. R’s total debt (including the current portion) was $7.85 billion at the third-quarter end compared with $7.72 billion at the end of the prior quarter.

R’s Outlook

For fourth-quarter 2025, Ryder expects adjusted EPS in the range of $3.50-$3.70. The Zacks Consensus Estimate of $3.76 lies above the guidance.

For 2025, Ryder now expects adjusted EPS in the range of $12.85-$13.05 (prior view: $12.85 - $13.30). The Zacks Consensus Estimate of $13.09 lies above the updated guidance.

Management continues to anticipate total revenues to increase by almost 1%. Operating revenues (adjusted) are still expected to increase 1%.

Adjusted ROE (return on equity) is still expected to be 17%. Net cash from operating activities is still projected to be $2.8 billion. Adjusted free cash flow is still expected to be in the range of $900 million-$1.00 billion. Capital expenditure is still estimated to be $2.3 billion.

Currently, Ryder carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q3 Performances of Other Transportation Companies

Delta Air Lines (DAL Quick QuoteDAL - Free Report) reported third-quarter 2025 earnings (excluding 46 cents from non-recurring items) of $1.71 per share, which beat the Zacks Consensus Estimate of $1.52. Earnings increased 14% on a year-over-year basis due to low fuel costs.

Revenues in the September-end quarter were $16.67 billion, beating the Zacks Consensus Estimate of $15.79 billion and increasing 6.4% on a year-over-year basis. Due to improving air-travel demand, adjusted operating revenues (excluding third-party refinery sales) increased 4.1% year over year to $15.2 billion. 

J.B. Hunt Transport Services, Inc. (JBHT Quick QuoteJBHT - Free Report) reported third-quarter 2025 earnings of $1.76 per share, which surpassed the Zacks Consensus Estimate of $1.47 and improved 18.1% year over year.

Total operating revenues of $3.05 billion surpassed the Zacks Consensus Estimate of $3.02 billion and were down 0.5% year over year. JBHT’s third-quarter revenue performance was hurt by a 1% and 4% decline in gross revenue per load in Intermodal (JBI) and Truckload (JBT), respectively, a decrease in load volume of 8% and 1% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS), and 8% fewer stops in Final Mile Services (FMS). These items were partially offset by a 3 % improvement in DCS productivity, a 9% increase in revenue per load in ICS and 14% load growth in JBT. Total operating revenue, excluding fuel surcharge revenue, fell less than 1% year over year.

United Airlines Holdings, Inc. (UAL Quick QuoteUAL - Free Report) reported mixed third-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.

UAL's third-quarter 2025 adjusted earnings per share (EPS) (excluding 12 cents from non-recurring items) of $2.78 surpassed the Zacks Consensus Estimate of $2.64 but declined 16.5% on a year-over-year basis. The reported figure lies above the guided range of $2.25-$2.75.

Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.3 billion but increased 2.6% year over year. Passenger revenues (which accounted for 90.7% of the top line) increased 1.9% year over year to $13.8 billion. UAL flights transported 48,382 passengers in the third quarter, up 6.2% year over year.