Exhibit 99.1


News Release


Contacts:    Media:                        Investor Relations:
Jonathan Mayor                    Bob Brunn
(305) 500-3161                 (305) 500-4210

Ryder Reports Third Quarter 2018 Results
Q3 GAAP EPS from Continuing Operations Up $0.57 or 51% to $1.69, Primarily Reflects a Lower Tax Rate, Lower Pension-Related Expenses, and Improved Operating Performance
Q3 Comparable EPS from Continuing Operations Up $0.30 or 22% to $1.64, Reflects a Lower Tax Rate from Tax Reform and Improved Operating Performance
Record Q3 Total Revenue Grows 17% to $2.2 Billion; Record Q3 Operating Revenue (non-GAAP) Up 13% to $1.7 Billion
Revised Full-Year 2018 GAAP EPS Forecast Range of $4.88 to $4.98 vs. Prior Forecast of $4.71 to $4.91
Revised Full-Year 2018 Comparable EPS Forecast Range (non-GAAP) of $5.72 to $5.82 vs. Prior Forecast of $5.62 to $5.82

MIAMI, Friday, October 26, 2018 - Ryder System, Inc. (NYSE: R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, today reported third quarter earnings and revenue. Results for the three months ended September 30 were as follows:

(dollars in millions, except EPS)
Earnings Before Taxes
 
Earnings
 
Diluted Earnings Per Share
 
2018
 
2017
 
Change
 
2018
 
2017
 
Change
 
2018
 
2017
 
Change
GAAP
$
116.1

 
94.5

 
23%
 
$
89.5

 
59.0

 
52%
 
$
1.69

 
1.12

 
51%
Non-operating pension costs
1.2

 
7.0

 
 
 
0.6

 
4.0

 
 
 
0.01

 
0.08

 
 
Restructuring and other, net
0.3

 
4.3

 
 
 

 
2.7

 
 
 

 
0.05

 
 
Tax law change and tax adjustment

 

 
 
 
(3.3
)
 
1.8

 
 
 
(0.06
)
 
0.03

 
 
Pension settlement charge

 
5.5

 
 
 

 
3.3

 
 
 

 
0.06

 
 
Comparable (non-GAAP)
$
117.6

 
111.2

 
6%
 
$
86.8

 
70.9

 
22%
 
$
1.64

 
1.34

 
22%

In the third quarter, the Company reported record total revenue and record operating revenue (a non-GAAP measure excluding all fuel and subcontracted transportation). Total revenue and operating revenue grew across all three business segments reflecting new business and higher volumes. Additionally, Supply Chain Solutions (SCS) revenue growth benefited from the second-quarter acquisition of MXD Group, Inc. (MXD). Total revenue also grew due to higher fuel costs passed through to customers.

1

The following information was filed by Ryder System Inc (R) on Friday, October 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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