Ryder Reports Higher Profits, Revenue

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yder System said Wednesday its third-quarter net income rose to $65.3 million or $1.06 cents a share, from $63.3 million or 98 cents a year earlier.

Ryder said its third-quarter earnings include a $3.5 million after-tax charge related to pension costs. Excluding the charge, the company earned $1.12 a share in the quarter.

Revenue rose 9% to $1.62 billion in the third quarter, up from $1.49 billion last year.

Ryder’s fleet management services’ revenue rose 5% to $1.06 billion. Its supply chain services unit’s revenue rose 19% to $513.8 million. Revenue at its dedicated contract carriage unit rose 5% to $146.4 million.

"We are setting our full-year 2006 forecast range at $4.01 to $4.06 per share including the $0.06 pension charge,” said Greg Swienton, Ryder’s chairman and chief executive officer.

Ryder is ranked No. 5 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.