09:14 AM EDT, 06/13/2024 (MT Newswires) -- Ryder System (R) said Thursday it now expects its long-term adjusted return on equity of 20% to 22% over the cycle, up from its prior range of 17% to 19%.

The company's "transformed business model, strategic initiatives, and expected benefits from the cycle upturn" will help it surpass previous peak-cycle returns, Chairman and Chief Executive Robert Sanchez said.