Ryder Authorizes New Discretionary and Anti-Dilutive Plans to Repurchase Shares

MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE: R) announces its Board of Directors has authorized two new share repurchase plans.

Under the new discretionary repurchase plan, Ryder management is authorized to repurchase up to 2.0 million shares of common stock, at its discretion, from October 9, 2025, through October 9, 2027 (two years). This plan is designed to provide management with capital structure flexibility while concurrently managing objectives related to balance sheet leverage, investments in organic growth, acquisition opportunities, and shareholder returns. The new plan replaces the company’s previously authorized 2.0 million share discretionary plan from 2024, which was largely completed.

Under the new anti-dilutive repurchase plan, Ryder management is authorized to repurchase up to 1.5 million shares of common stock, from October 9, 2025, through October 9, 2027 (two years), that have been issued to employees under the company’s employee stock plans since August 31, 2025. This plan is designed to mitigate the dilutive impact of shares issued under the company’s employee stock plans. The new plan replaced the company’s 2023 anti-dilutive plan, which expired on October 12, 2025.

“Consistent execution of our balanced growth strategy is increasing the earnings and return profile of our business while also growing our capital deployment capacity,” says Ryder Chairman and Chief Executive Officer Robert Sanchez. “Ample capacity and our strong balance sheet support capital allocation priorities focused on profitable growth, strategic investments, and returning capital to shareholders. Since 2021, we have repurchased approximately 22% of our shares outstanding and have increased our quarterly dividend by 57%. Our new share repurchase program and the dividend increase we announced earlier this year demonstrate our commitment to disciplined capital allocation.”

Share repurchases under both plans can be made from time to time using the company’s working capital and a variety of methods, including open-market transactions and trading plans established pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The timing and actual number of shares repurchased are subject to market conditions, legal requirements, and other factors. As of September 30, 2025, the company had approximately 40.4 million shares of common stock outstanding.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a fully integrated port-to-door logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including warehousing and distribution, contract packaging and manufacturing, e-commerce fulfillment, last-mile delivery, managed transportation, professional drivers, freight brokerage, cross-border solutions, full-service fleet leasing, maintenance, commercial truck rental, and used vehicle sales to some of the world’s most-recognized brands. Ryder provides services to businesses across more than 20 industries throughout the United States, Mexico, and Canada. In addition, Ryder manages nearly 250,000 commercial vehicles, services fleets at approximately 760 maintenance locations, and operates nearly 300 warehouses encompassing more than 100 million square feet. Ryder is regularly recognized for its industry-leading practices; technology-driven innovations; environmental management; safety, health and security programs; and recruitment and hiring initiatives. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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