Loigistics

Quarterly consolidated revenue, at $21.7 billion, fell 5.3% annually, and adjusted earnings per share, at $1.43, saw a 35.0% annual decline. Consolidated quarterly operating profit came in at $1.6 billion, which was off 36.5% annually.

Ryder officials explained that these moves were driven by the evolving dynamics of cross-border trade between the U.S. and Mexico, coupled with the ports of Laredo and Nuevo Laredo representing the top inland transborder trade port between the U.S. and Mexico, in tandem with Mexico now being the top trading partner of the U.S. in 2023.

San Francisco-based freight forwarding and customs brokerage services provider Flexport said this week it is increasing its presence north of the border, for Canadian importers and exporters, with the opening of a new office in Toronto.