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News Release Second Quarter 2021 GAAP EPS from continuing operations of $ 2.78 versus a loss of $ ( 1.41 ) in prior year , reflecting significantly improved results in fleet management solutions and prior - year COVID - 19 effects Comparable EPS ( non - GAAP ) from continuing operations of $ 2.40 versus a loss of $ ( 0.95 ) in prior year Total revenue of $ 2.4 billion and operating revenue ( non - GAAP ) of $ 1.9 billion up 26 % and 18 % respectively , reflecting double - digit revenue growth across all business segments Full - Year 2021 Forecast ● Increased GAAP EPS forecast to $ 7.40 - $ 7.70 from $ 5.65 - $ 6.05 Increased comparable EPS ( non - GAAP ) forecast to $ 7.20 - $ 7.50 from $ 5.50 - $ 5.90 Expect to achieve adjusted ROE ( ROE ) of 16 % - 17 % exceeding our long - term target of 15 % Maintained cash flow from operating activities forecast of $ 2.2B ; increased free cash flow ( non GAAP ) forecast to $ 650M - $ 750M to reflect OEM vehicle delivery delays Ryder Reports Second Quarter 2021 Results MIAMI , July 28 , 2021 – Ryder System , Inc. ( NYSE : R ) , a leader in supply chain , dedicated transportation , and fleet management solutions , reported results for the three months ended June 30 as follows : ( In millions , except EPS ) Continuing operations ( GAAP ) Comparable ( non - GAAP ) ( In millions ) Total Fleet Management Solutions ( FMS ) Supply Chain Solutions ( SCS ) Dedicated Transportation Solutions ( DTS ) CEO Comment Total and operating revenue for the three months ended June 30 were as follows : $ $ $ 2021 Earnings ( Loss ) Before Taxes 2020 2021 $ 203.6 $ ( 94.8 ) $ 175.6 $ ( 64.0 ) 2,382 1,408 776 355 Total Revenue 2020 Earnings ( Loss ) 2021 2020 $ 149.6 $ ( 73.7 ) $ 129.1 $ ( 49.5 ) 1,895 1,198 519 294 Change 26 % 18 % 49 % 21 % 2021 $ $ $ 1,923 $ 1,225 $ 535 $ 256 Diluted Earnings ( Loss ) Per Share 2021 Operating Revenue ( non - GAAP ) 2020 2.78 $ ( 1.41 ) 2.40 $ ( 0.95 ) 1,623 1,074 405 228 2020 TM Change 18 % 14 % 32 % 12 % Commenting on the company's results and outlook , Ryder Chairman and CEO Robert Sanchez said , " Our team delivered strong second quarter results that exceeded our expectations , driven by significant improvement in FMS results due to higher gains on used vehicles sold as well as strong lease and rental performance . We're excited to see strong sales activity across all segments , reflecting continued strength in secular growth trends . Our innovative technology offerings , such as RyderShare¹ are strategic differentiators for us , as our customers seek expanded supply chain and transportation capabilities and increased resiliency . 9