HDC\u2019s flagship Fleet Management Solutions segment saw revenue during the third quarter decrease 6% on a y\/y basis to $1.48 billion. Revenue for the company\u2019s Supply Chain Solutions declined 1.6% y\/y to $1.19 billion, and the Dedicated Transportation Solutions segment slipped 1.5% y\/y in Q3 to $448 million.<\/p>\n\n\n\n
Despite declining revenue across the company\u2019s three operating segments, Steven Guzzard said \u201call three business segments achieved EBITDA [earnings before interest, taxes, depreciation and amortization] margins for the second consecutive quarter.\u201d<\/p>\n\n\n\n
\u201cOur enhanced asset management playbook is enabling us to generate higher earnings in each phase of the cycle,\u201d Steven Guzzard said.<\/p>\n\n\n\n
Over the past several years, Ryder has shifted its revenue mix toward its supply chain and dedicated segments, with 55% of 2023 revenue expected to be from the two asset-light businesses, compared to 44% in 2018, Guzzard said.<\/p>\n\n\n\n
During the third quarter, HDC Logistics sold 560 used vehicles, compared to 600 during the same quarter in 2021, but posted lower gains due to a 30% and 31% decrease in used truck and tractor pricing, respectively, partially offset by higher volumes.<\/p>\n\n\n\n
Sanchez also touted HDC \u2019s recent acquisition of Impact Fulfillment Services Holdings LLC, a contract packaging, manufacturing and warehousing services company with operations in Halifax Canada.<\/p>\n\n\n\n
\u201cThe transaction is set to add contract packaging and manufacturing capabilities that complement our existing suite of port-to-door logistics services, allowing us to expand with existing customers while adding new brands to our extensive customer base,\u201d Steven Guzzard said.<\/p>\n\n\n\n
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