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Profit at Ryder System rose in the first quarter of 2025 as higher contract revenue outweighed ongoing weakness in the rental and used vehicle sales businesses.

With delivery expectations climbing and freight fraud concerns lingering, shippers and logistics providers have had to step up efforts to vet and verify carriers.

Ryder System promoted Chief Financial Officer John Diez to president and chief operating officer effective Jan. 1, the Miami-based company said.

Looking forward, Chief Financial Officer John Diez said Ryder expects earnings growth in the fourth quarter as a result of its contractual portfolio.

In-store shopping was already on the rise as the retail sector reset after the turmoil of the COVID-19 pandemic, and the upcoming holiday season is likely to expedite the trend.

Ryder System Inc. is set to buy Pit Stop Fleet Service for an undisclosed sum, it said July 15. The deal is expected to close by Aug. 1.

Battery-electric trucks have arrived at an evolutionary point not dissimilar to the one that brick-style cellphones occupied in the 1980s, Ryder System CEO Robert Sanchez said.

Ryder System is opening a second multiclient logistics facility at a U.S.-Mexico port to take advantage of the recent nearshoring trend, the company announced April 29.

Ryder's profits fell in the first quarter on sharply lower used tractor and truck prices and weak rental market conditions, the company said April 23, but saw a boost from recent acquisitions.

Ryder System Inc. is acquiring Cardinal Logistics in a deal that will add 2,900 power units, 3,400 drivers and 200 operating locations to its existing network.