For the first quarter of 2011, the company posted net earnings of $25.1m, or $0.48 per diluted share, compared to $12.4m, or $0.23 per diluted share, for the same period in 2010.

Total operating expense for the first quarter of 2011 was $1.38 billion, compared to $1.19 billion for the same period in 2010.

Fleet management solutions business segment total revenue increased 11 percent due primarily to higher fuel services and commercial rental revenues. FMS operating revenue increased six percent due primarily to higher commercial rental revenue.

In the supply chain solutions business segment, first quarter 2011 total revenue was $401m, up 36 percent from the comparable period in 2010.

First quarter 2011 operating revenue (revenue excluding subcontracted transportation) was $324.3m, up 36 percent compared with the comparable period a year ago.

Greg Swienton, chairman and CEO of Ryder, said: “We expect continuing strong revenue and earnings performance from organic growth in many areas of our business and increasing contributions from recent acquisitions, including four announced since early December.

“Our fleet management solutions business should continue to produce strong results from the commercial rental and used vehicles sales product lines and we remain on track to deliver organic expansion of lease fleet levels beginning in the second half of the year. The positive revenue trends in our supply chain solutions business are expected to continue.”

Will the firm further increase revenue in Q2?

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