SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 25, 2001
RYDER SYSTEM, INC.
(Exact name of registrant as specified in its charter)
Florida 1-4364 59-0739250
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
3600 NW 82/nd/ Avenue, Miami, Florida 33166
(Address of principal executive offices) (Zip Code)
(305) 500-3726
(Registrant's telephone number, including area code)
Page 1 of 7
This report consists of 7 consecutively numbered pages.
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ITEM 9. REGULATION FD DISCLOSURE
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Ryder System, Inc. (the Company) has made this filing to provide
answers to questions that were submitted by analysts and investors
subsequent to the Company's April 19, 2001, earnings conference call.
The Company will also publish the question and answer document (Q and
A) on its web site (www.ryder.com).
-------------
The content of the Q and A is furnished below in accordance with the
requirements of Regulation FD.
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Ryder System, Inc.
Questions and Answers
1) Can you provide total vehicles by type (i.e trucks, tractors, trailers
and other) and by business (lease, rental, service vehicles) on a
quarterly basis for 2000 and 1999?
The Company's fleet of owned and leased revenue earning equipment is summarized
as follows (number of units excluding discontinued operations):
2000
For the Quarter Ended:
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
By Type:
Trucks 67,600 67,800 67,300 66,800
Tractors 56,500 57,000 56,700 56,400
Trailers 46,800 47,900 48,500 48,500
Other 4,400 4,500 4,500 4,600
-------------------------------------------------------------
Total 175,300 177,200 177,000 176,300
=============================================================
By Business:
Full service lease 128,100 129,300 129,500 130,700
Commercial
rental 44,300 44,700 44,100 42,200
Service vehicles
and other 2,900 3,200 3,400 3,400
-------------------------------------------------------------
Total 175,300 177,200 177,000 176,300
=============================================================
1999
For the Quarter Ended:
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
By Type:
Trucks 65,200 68,100 68,600 65,600
Tractors 51,300 53,700 55,600 54,700
Trailers 44,900 46,500 47,500 46,700
Other 4,600 4,700 4,600 4,500
-------------------------------------------------------------
Total 166,000 173,000 176,300 171,500
=============================================================
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1999
For the Quarter Ended:
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
By Business:
Full service lease 122,500 126,900 128,900 125,400
Commercial rental 40,700 43,200 44,500 43,200
Service vehicles
and other 2,800 2,900 2,900 2,900
-------------------------------------------------------------------
Total 166,000 173,000 176,300 171,500
===================================================================
2) Can you provide the total number of units disposed on a quarterly
basis for 2000 and 1999?
Units Disposed
(U.S. Only)
For the Quarter Ended:
March 31 June 30 Sept. 30 Dec. 31 Year ended Dec.31
-------- ------- -------- ------- -----------------
2000 4,900 4,500 3,700 3,700 16,800
1999 5,600 6,300 5,200 7,000 24,100
The Company maintains disposal statistics for the U.S. only; however,
management believes such amounts to be indicative of unit disposal trends for
the Company as a whole.
3) Can you provide the amount of equipment rental expense on a quarterly
basis for 2000 and 1999?
Equipment Rental Expense
(In Thousands)
For the Quarter Ended:
March 31 June 30 Sept. 30 Dec. 31 Year ended Dec.31
-------- ------- -------- ------- -----------------
2000 $86,847 98,891 98,901 101,124 385,763
1999 $57,973 58,423 62,608 87,991 266,995
Equipment rental primarily consists of rental costs on revenue earning
equipment.
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4) Can you provide the number of rental units and rental utilization on a
quarterly basis for the last five years?
Number of Rental Units
(U.S. Only)
For the Quarter Ended:
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
2000 28,600 29,100 28,300 27,200
1999 26,900 27,800 29,200 28,200
1998 23,200 25,900 27,500 26,400
1997 22,500 24,000 24,100 23,800
1996 26,400 25,800 25,100 23,600
Rental units consist of trucks and tractors available for rental within the
United States. Trailers are excluded from the above unit counts. Information is
provided for the U.S. only because consolidated worldwide rental unit counts are
not available for all periods presented (consolidated worldwide information for
2000 and 1999, including trailers, is furnished in the response to question 1
elsewhere in this report).
Rental Utilization
For the Quarter Ended:
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
2000 67.7 % 73.8 % 71.2 % 71.5 %
1999 69.9 % 72.9 % 72.0 % 73.4 %
1998 69.5 % 73.9 % 73.1 % 73.6 %
1997 64.9 % 71.4 % 75.0 % 74.5 %
1996 63.3 % 69.2 % 71.3 % 70.6 %
Rental fleet utilization is monitored for the U.S. only; however, management
believes such metric to be indicative of rental product performance for the
Company as a whole. Rental fleet utilization represents the number of days of
fleet rental per quarter divided by the total number of days of fleet
availability during that particular quarter.
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5) Can you provide the number of full service lease units on a quarterly basis
for the last five years?
Number of Full Service Lease Units
For the Quarter Ended:
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
2000 128,100 129,300 129,500 130,700
1999 122,500 126,900 128,900 125,400
1998 115,100 115,400 117,500 120,000
1997 112,900 111,800 112,100 113,600
1996 107,900 109,600 111,300 112,500
FORWARD-LOOKING STATEMENTS
- --------------------------
Certain statements and information included in this release are "forward-looking
statements" under the Federal Private Securities Litigation Reform Act of 1995.
Accordingly, we advise that these forward-looking statements be evaluated with
consideration given to the many uncertainties inherent in our business that
could cause actual results and events to differ materially from those in the
forward-looking statements. Important factors that could cause such differences
include, among others, the competitive pricing environment applicable to the
Company's businesses, customer retention levels, changes in customers' business
environments, changes in market conditions affecting the sale of used vehicles,
greater than expected expenses associated with the Company's activities and
changes in general economic conditions. Information furnished is not necessarily
indicative of future results.
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RYDER SYSTEM, INC.
(Registrant)
Date: May 24, 2001 /s/ Corliss J. Nelson
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Corliss J. Nelson
Senior Executive Vice President
and Chief Financial Officer
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