Stem, Inc. Q3 2026 Earnings Recap

Ryder shares rose 10.5% after earnings. The quarter’s 21% comparable EPS growth and better-than-expected used-vehicle pricing and retail volumes were supported by improving rental performance and strengthening freight conditions.

Key Takeaways

• Comparable EPS increased 21% year over year, marking Ryder’s eighth consecutive quarter of comparable EPS growth; return on equity was 18%.
• Used-vehicle sales improved, with pricing and retail volumes better than expected, according to management.
• Commercial rental utilization was 77%, up 700 basis points year over year; demand remained below prior year but improved sequentially.
• Contractual sales were strong across all three segments, with activity accelerating in leased and dedicated; lease miles per unit rose both year over year and sequentially.
• Ryder expects more than $70 million in strategic-initiative benefits in 2026 and says cumulative benefits from the program will exceed $170 million by year-end.