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RYDER SYSTEM, INC.

(R)
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Ryder System : and Waymo Enter Partnership Focused on Autonomous Truck Maintenance—Sights Set on Scaling Operations Nationwide

08/18/2021 | 12:02pm EST

Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, and Waymo Via, the trucking and local delivery unit of leading autonomous driving developer Waymo, announce a partnership focused on providing best-in-class maintenance for Class 8 autonomous trucks, in order to maximize vehicle up-time and ensure the reliability required to scale operations nationwide.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210818005074/en/

Ryder to provide maintenance services and roadside assistance for Waymo Via's Class 8 autonomous trucks in five states initially, with sights set on scaling operations nationwide. (Photo: Business Wire)

Ryder to provide maintenance services and roadside assistance for Waymo Via's Class 8 autonomous trucks in five states initially, with sights set on scaling operations nationwide. (Photo: Business Wire)

With a growing fleet and geographical footprint, Waymo Via needs a robust and scalable solution for truck maintenance. Ryder has a network of more than 500 maintenance facilities in the U.S. and nearly 90 years of fleet maintenance expertise. The two companies will partner on servicing and evolving maintenance practices for autonomously driven trucks across Waymo Via sites in Texas, Arizona, California, Michigan, and Ohio, as well as roadside service between hubs.

“While this partnership initially focuses on fleet maintenance, we see many opportunities to collaborate on autonomous trucking operations in order to successfully deploy these trucks at scale,” says Karen Jones, chief marketing officer and head of new product development for Ryder. “Already, we’ve collaborated on the layout and design of Waymo’s new Dallas facility to ensure it’s optimized for serviceability of trucks and for the transfer hub model they plan to pursue in the near future. Autonomous Class 8 technology is quickly taking hold, and Ryder is poised to become a leader – not only in servicing trucks but also in managing the unique logistics of autonomous operations.”

Waymo brings over a decade of experience in building autonomous driving technology, having driven more than 20 million miles on public roads across 10 U.S. states and 20 billion miles in simulation.

“As we continue to scale our autonomous trucking operations, we couldn’t have found a better partner than Ryder,” says Charlie Jatt, head of commercialization for Waymo Via trucking. “There are many synergies between our Waymo Via vision and operations and Ryder’s expertise and resources, and we look forward to unlocking best-in-class solutions within the industry and bringing autonomously driven trucks to market throughout the U.S.”

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages nearly 235,000 commercial vehicles and operates more than 300 warehouses encompassing approximately 64 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

About Waymo

Waymo is an autonomous driving technology company with a mission to make it safe and easy for people and things to get where they’re going. Since our start as the Google Self-Driving Car Project in 2009, Waymo has been focused on building, deploying, and commercializing the World’s Most Experienced Driver to improve the world's access to mobility while saving thousands of lives now lost to traffic crashes. The Waymo Driver powers Waymo One, the world's first fully autonomous ride-hailing service, as well as Waymo Via, our trucking and local delivery service. To date, Waymo has autonomously driven tens of millions of miles on public roads and tens of billions of miles in simulation, across 10 U.S. states. For more: www.waymo.com.

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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ę Business Wire 2021
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Financials (USD)
Sales 2021 9 544 M - -
Net income 2021 468 M - -
Net Debt 2021 5 387 M - -
P/E ratio 2021 9,07x
Yield 2021 2,88%
Capitalization 4 259 M 4 259 M -
EV / Sales 2021 1,01x
EV / Sales 2022 0,99x
Nbr of Employees 39 000
Free-Float 99,3%
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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 79,32 $
Average target price 93,57 $
Spread / Average Target 18,0%
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Managers and Directors
Robert E. Sanchez Chairman & Chief Executive Officer
John J. Diez Chief Financial Officer & Executive Vice President
Rajeev Ravindran Chief Information Officer & Senior Vice President
Norman Brouillette VP, General Manager-Technology & Healthcare
Kendra Phillips Chief Technology Officer
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