Ryder Third-Quarter Profit Surges
Truck-rental company Ryder System Inc. reports that its third-quarter profit rose 45 percent on strong commercial revenue, according to the Associated Press. Quarterly income rose to $54.3 million, or 83 cents per share, from $37.5 million, or 58 cents per share, a year ago. The company said these results included a 1-cent gain from the sale of the final parcel at the company's headquarters complex. Revenue rose 9 percent to $1.31 billion from $1.19 billion during the same period last year. The company said its fleet management solutions segment, which rents and maintains vehicles for businesses, grew 14 percent. Commercial rentals, a part of the fleet management segment, grew 22 percent.