8-K 1 d8k.txt FORM 8-K 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. 1 ITEM 9. REGULATION FD DISCLOSURE ------------------------ 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. 2 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. 4 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. 5 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. 6 SIGNATURE --------- 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 --------------------- Corliss J. Nelson Senior Executive Vice President and Chief Financial Officer 7