The aggressive approach Ryder has taken toward writing down the value of its used vehicle fleet is paying off on the company’s bottom line, as evidenced by a big shift in net earnings for the third quarter.
Even as net income rose to $35.8 million from a loss of $91.5 million in the third quarter of last year, overall revenue was down. The Fleet Management sector’s total revenue declined 7%, to $1.3 billion from $1.4 billion. Fleet Management includes the businesses Ryder is most known for:...