Ryder

Last updated
Ryder System, Inc.
Public
Traded as NYSE:  R
DJTA component
S&P 400 Component
Industry Transportation
Founded1933;86 years ago (1933) in Miami, Florida, U.S.
FounderJames Ryder
Headquarters Miami, Florida, U.S.
Key people
Robert E. Sanchez
(President & CEO)
Scott Parker
(Executive VP & CFO)
Services Fleet management
Supply chain management
Dedicated carrier
Cargo truck rental
RevenueIncrease2.svg US$ 7.33 billion (2017)
Decrease2.svg US$ 454.14 million (2017)
Increase2.svg US$ 790.56 million (2017)
Total assets Increase2.svg US$ 11.45 billion (2017)
Total equity Increase2.svg US$ 2.84 billion (2017)
Number of employees
36,100 [1]  (2017)
Website ryder.com
Footnotes /references
[2] [3] [4] [5] [6]
A 2003-2007 Ryder Ford E-450 '03-'05 Ford E-450 Ryder Cutaway.JPG
A 2003–2007 Ryder Ford E-450
A Ryder DAF LF45 truck in the United Kingdom Ryder MX54XVP (887604685)(crop).png
A Ryder DAF LF45 truck in the United Kingdom
A Ryder Freightliner Sprinter truck in the United States Freightliner Sprinter (4305632394).jpg
A Ryder Freightliner Sprinter truck in the United States
A Ryder Ford Transit van in the United Kingdom DN54NPE Ryder (202748911)(crop).png
A Ryder Ford Transit van in the United Kingdom
A Isuzu N-Series Ryder Truck.jpg
A Isuzu N-Series

Ryder System, Inc., or Ryder, is an American provider of transportation and supply chain management products, and is especially known for its fleet of rental trucks. [7] Ryder specializes in fleet management, supply chain management, and dedicated contracted carriage. Ryder operates in North America, the United Kingdom and Asia. It has its headquarters in suburban Miami, Florida within Miami-Dade County.

Fleet management is the management of:

Miami City in southeastern Florida

Miami, officially the City of Miami, is an American city that is the seat of Miami-Dade County, and is the cultural, economic and financial center of South Florida. The city covers an area of about 56 square miles (150 km2) between the Everglades to the west and Biscayne Bay to the east. Miami is the sixth most densely populated major city in the United States with an estimated 2018 population of 470,914. The Miami metropolitan area is home to 6.1 million people, the second-most populous in the southeastern United States and the seventh-largest in the nation. The city has the third tallest skyline in the U.S. with over 300 high-rises, 55 of which exceed 490 ft (149 m).

Contents

History

Ryder was founded in Miami, Florida in 1933 by James Ryder as a concrete hauling company with one truck, a 1931 Model "A" Ford. [3] In 1938, Ryder signed a five-truck lease deal with Champagne Velvet Beer, increasing Ryder’s fleet to 20 trucks. [8] By the following year, the fleet grows to more than 50 trucks. This led to Ryder changing its focus from distribution to leasing. Ryder bought Great Southern Trucking Company in 1952. In 1955 Ryder System, Inc. was formed to combine Great Southern and Ryder Truck Rental. Ryder System went public in 1955. [9] By the 1960s and 1970s, Ryder had expanded into the distribution and supply chain markets.

Concrete Composite construction material

Concrete, usually Portland cement concrete which takes 30 years to fully set, is a composite material composed of fine and coarse aggregate bonded together with a fluid cement that hardens over time—most frequently in the past a lime-based cement binder, such as lime putty, but sometimes with other hydraulic cements, such as a calcium aluminate cement or Portland cement. It is distinguished from other, non-cementitious types of concrete all binding some form of aggregate together, including asphalt concrete with a bitumen binder, which is frequently used for road surfaces, and polymer concretes that use polymers as a binder.

Supply chain system of organizations, people, activities, information, and resources involved in moving a product or service from the point where it is manufactured to where it is consumed

In business and finance, supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product that is delivered to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains.

James A. Ryder, founder and chairman, retired in 1978. [3]

In 2008, Ryder acquired three regional competitors: Pollock, Lily Transportation and Gator Leasing.

Business

Ryder divides its business into three segments: Fleet Management Solutions, Supply Chain Solutions, and Dedicated Contract Carriage. As of 2017, the total company revenue was $7.3 billion, with earnings before income taxes of $313.79 million.

Fleet management

Ryder's fleet management business is its largest business segment, accounting for 71% of its revenue for a total of $4.4 billion. Profit of $398 million was 86% of the total. [10] This arm of the business does contract-based full-service leasing, contract maintenance, commercial rental and fleet support services. Under full-service leasing Ryder owns and maintains the trucks and the customer decides where they go. In contract maintenance Ryder just takes care of the trucks. Commercial rentals are the white Ryder trucks which the contract customers can rent on a temporary basis. Ryder grew its North American rental fleet to nearly 30,000 vehicles in 2010 and 2011 raising the percentage of model year 2010 or newer vehicles in the fleet to more than 40 percent. [11] Support services consist of insurance, vehicle permits, and fuel.

In April 2011 Ryder bought B.I.T. Leasing, from Hayward, California. [12] Also in 2011 it acquired the full service leasing and rental business of Carmenita Leasing, Inc., located in Santa Fe Springs, California, [13] and the full service lease, contract maintenance, commercial rental and dedicated contract carriage business, The Scully Companies, Inc., based in Fontana, California. [14]

Hayward, California City in California, United States

Hayward is a city located in Alameda County, California in the East Bay subregion of the San Francisco Bay Area. With a 2014 population of 149,392, Hayward is the sixth largest city in the Bay Area and the third largest in Alameda County. Hayward was ranked as the 37th most populous municipality in California. It is included in the San Francisco–Oakland–Fremont Metropolitan Statistical Area by the US Census. It is located primarily between Castro Valley and Union City, and lies at the eastern terminus of the San Mateo–Hayward Bridge. The city was devastated early in its history by the 1868 Hayward earthquake. From the early 20th century until the beginning of the 1980s, Hayward's economy was dominated by its now defunct food canning and salt production industries.

Santa Fe Springs, California City in California, United States

Santa Fe Springs is a city in Los Angeles County, California, United States. It is one of the Gateway Cities of southeast Los Angeles County. The population was 16,223 at the 2010 census, down from 17,438 at the 2000 census.

Fontana, California City in California, United States

Fontana is a city in San Bernardino County, California. Founded by Azariel Blanchard Miller in 1913, it remained essentially rural until World War II, when entrepreneur Henry J. Kaiser built a large steel mill in the area. It is now a regional hub of the trucking industry, with Interstate 10 and State Route 210 transecting the city from east to west, and Interstate 15 passing diagonally through its northwestern quadrant.

Supply chain

Ryder' supply chain operations accounted for 26% of its revenue for a total of $1.6 billion. Profit of $42 million was 9% of the total. This business consists of management of a customer's supply chain. Ryder managed over 15,000,000 square feet (1,393,546 m2) of warehouse space on December 31, 2008. [10]

Warehouse building for storing goods

A warehouse is a building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial parks on the outskirts of cities, towns or villages.

In December 2010 Ryder bought TLC, a supply chain services company based in Holland, Michigan. [15]

Dedicated Contract Carriage

Ryder Dedicated Contract Carriage accounted for 8% of its revenue for a total of $0.5 billion. Profit of $49 million was 10% of the total. [10] This arm of the business conducts both leasing and supply chain management. In 2013, Ryder launched a new name and identity for this program called Ryder Dedicated.

Rental trucks

Ryder launched a consumer truck-rental operation in 1968 with 1,000 trucks and vans. These were the yellow trucks known as "one-ways" and available for the public to rent from filling stations and other automotive-service locations. In June 1998, Ryder decided to focus on commercial truck rental and leasing, and exited the "one-way" business arena; which it sold to Budget Truck Rental. [16] The white Ryder trucks seen on highways today are available to the general public looking to move locally (returning the truck to the original pick-up location), businesses, and companies that have a contractual agreement with Ryder.

Ryder will launch electric truck rentals in California, Chicago, and Illinois. The trucks will be equipped with 70kWh batteries, which has an estimated range of 100 miles, just under the smallest battery in a Tesla S model. [17]

Headquarters

Ryder's headquarters are located in an unincorporated area in northwest Miami-Dade County, Florida, near the Miami Dade-County, Broward County boundary line. [18] [19]

Previously Ryder had its headquarters in Doral, Florida. [20] In 2002, after taking a year-long study of 22 potential headquarters sites in South Florida, Ryder announced that it would move its headquarters to another location in northwest Miami-Dade County. The commute times of around 200 employees who reside in Broward County decreased. Before the announcement of the final headquarters site, Ryder considered some locations in Miramar in Broward County. [19] In 2005 Shoma Development Corp. began demolishing the former Ryder headquarters in Doral, replacing it with the Park Square at Doral development. [21]

Ryder also has a Shared Services Center in Alpharetta, GA that employs over 500 people and provides support to all FMS Operations.

Locations

Headquartered in Miami, Ryder has satellite locations in 48 US States and also in Mexico, Canada, Singapore, China and the United Kingdom. [22]

Criticism

In December 2011, the non-partisan organization Public Campaign criticized Ryder for spending $0.96 million on lobbying and not paying any taxes during 2008–2010, instead getting $46 million in tax rebates, despite making a profit of $627 million. [23]

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References

Notes
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  4. "Ryder Media Resources". Ryder System, Inc. Archived from the original on April 5, 2017. Retrieved July 16, 2017.
  5. "Ryder System, Inc". Google Finance. Archived from the original on October 6, 2008. Retrieved April 24, 2011.
  6. "Ryder System, Inc. - Form 10-K". Edgar Online. Archived from the original on August 25, 2011. Retrieved April 24, 2011.
  7. "Ryder System Inc Company Profile". Reuters. Archived from the original on May 28, 2008. Retrieved August 8, 2008.
  8. "Archived copy". Archived from the original on 2018-07-16. Retrieved 2018-07-16.CS1 maint: archived copy as title (link)
  9. "Ryder System, Inc. Company History". Funding Universe. Archived from the original on January 23, 2012. Retrieved May 7, 2011.
  10. 1 2 3 2008 Annual Report
  11. "Ryder Expands and Refreshes Its Rental Fleet with 6,700 New Trucks, Tractors, and Trailers". www.businesswire.com. Archived from the original on 2017-10-12. Retrieved 2017-10-11.
  12. "Ryder Acquires Portfolio of B.I.T. Leasing". Archived from the original on 2017-10-12. Retrieved 2017-10-11.
  13. "About Ryder". Archived from the original on 2006-12-29. Retrieved 2008-08-07.
  14. "Ryder completes acquisition of The Scully Companies Inc". www.logisticsmgmt.com. Archived from the original on 2016-04-21. Retrieved 2017-10-11.
  15. "Ryder acquires big Holland-based warehouser with 2,500 employees nationwide". MLive.com. Archived from the original on 2017-10-12. Retrieved 2017-10-11.
  16. "Truck Rental and Leasing Without Drivers market report | HighBeam Business: Arrive Prepared". business.highbeam.com. Archived from the original on 2010-10-28. Retrieved 2017-10-11.Cite uses deprecated parameter |dead-url= (help)
  17. "Ryder will start renting electric vans in New York, California, and Illinois". The Verge. Archived from the original on 2017-11-03. Retrieved 2017-11-03.
  18. "Contact Us Archived 2010-01-08 at the Wayback Machine ." Ryder. Retrieved on January 9, 2010.
  19. 1 2 Tamen, Joan Fleischer. "Ryder Headquarters to be Located Near Broward County, Fla., Border." South Florida Sun-Sentinel . December 5, 2002. Retrieved on January 9, 2010.
  20. "Contact Ryder." Ryder. February 29, 2000. Retrieved on January 9, 2010.
  21. "Urban Living Archived 2011-06-09 at the Wayback Machine ." Miami Herald . August 12, 2005. 1C Business. Retrieved on January 9, 2010.
  22. "Ryder.com". Archived from the original on 2012-09-09. Retrieved 2011-02-15.
  23. Portero, Ashley. "30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008–2010". International Business Times. Archived from the original on January 7, 2012. Retrieved December 26, 2011.Cite uses deprecated parameter |dead-url= (help)
Bibliography

Coordinates: 25°52′5.67″N80°23′6.96″W / 25.8682417°N 80.3852667°W / 25.8682417; -80.3852667