Ryder's Third-Quarter Earnings Improve

Ryder System said Tuesday its third-quarter profit increased from a year ago and raised its earnings forecast for the rest of 2011.

The Miami-based trucking and logistics company’s net income rose to $56.5 million, or $1.10 per share, from $38.8 million, or 74 cents, a year earlier.

Revenue rose 19% to $1.57 billion, while operating revenue climbed 17% to $1.26 billion.

Ryder raised its full-year 2011 earnings forecast to a range of $3.44 to $3.49 per share, from a previous projection of $3.33 to $3.43.

The company’s Fleet Management Solutions segment saw strong demand and higher pricing for commercial rental and used vehicle sales, but these improvements were partially offset by higher maintenance costs on an older lease fleet, CEO Greg Swienton said in a statement.

The company’s Ryder Supply Chain Solutions segment is ranked No. 12 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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Volvo's 3Q Earnings Jump; Predicts 20% Growth in North American Sales

Volvo AB’s third-quarter profit jumped 36% and the company said heavy-duty truck sales in North America will rise 20% next year, Bloomberg reported Tuesday.

Net income rose to $585 million, while sales rose 15% to $11.2 billion, Bloomberg reported. Gothenburg, Sweden-based Volvo reports its earnings in Swedish krona.

Third-quarter truck orders rose 18% as purchases in North and South America helped offset slowing demand in Europe and Asia, Bloomberg reported, citing Volvo.

CEO Olof Persson, who headed Volvo’s construction equipment unit before taking the top post last month, said Volvo is now taking orders for the beginning of next year in North America, Bloomberg reported.

Volvo, the parent company of Mack Trucks and Volvo Trucks North America, is also the parent of Renault trucks in Europe.

Earlier this month, Volvo announced a reorganization of its heavy-duty vehicle truck business to align along geographic regions rather than by brands.

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Eaton Posts Record 3Q Earnings Per Share

Truck and auto components maker Eaton Corp. said Monday it posted record third-quarter earnings per share, up 37% from last year.

Eaton’s net income rose to $365 million, or $1.07 per share, up from $268 million, or 78 cents, a year ago. Sales rose 15% to $4.12 billion.

“We anticipate net income per share for the fourth quarter of 2011 to be between $1.04 and $1.14,” Eaton CEO Alexander Cutler said in a statement.

Eaton’s truck segment reported an operating profit of $139 million, as sales rose 34% to a quarterly record $715 million.

Truck production rose 25%, with U.S. markets up 51% and non-U.S. markets up 7% in the quarter, the company said in a statement.

“We now expect the [North American Free Trade Agreement] Class 8 market to total 255,000 units, a small reduction from our forecast in July,” Cutler said in a statement. “Outside NAFTA, we are seeing a continuation of modest growth.”

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Radiant Logistics Reports Lower 4Q Earnings

Radiant Logistics, a third-party provider of airfreight and other services, said its fiscal fourth-quarter net income was $581,697, or 2 cents a share, down from $844,278, or 3 cents a share, a year earlier.

Radiant said in a statement the results for the period ended June 30 included $139,000 in one-time costs, as well as $583,000 in expenses related to an acquisition.

The company, whose brands include Distribution By Air, Airgroup, Adcom Worldwide and Radiant, said revenue increased by nearly 75% to $70.9 million in its fourth quarter, and net revenue, or sales minus the cost of transportation, increased more than 60% to $21.2 million.

For the full year, net income was $2.86 million or 9 cents a share on $203.8 million of revenue. The company expects earnings to improve to $3.8 million in 2012.

Radiant also announced the opening of a new office in Nogales, Ariz.

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