President of Global Supply Chain Solutions & Dedicated Transportation Solutions, RYDER SYSTEM INC
Ryder CEO Goes “On Location” to the New York Stock Exchange
Welcome to the latest episode of "On Location," a Ryder video series featuring the men and women of Ryder who keep the ...
About John Sensing
In a September 2024 episode of Ryder's "On Location" video series, Sanchez discussed the company's history and employee stock ownership at the New York Stock Exchange. He stated that being listed on the NYSE in 1960 was a milestone that allowed Ryder to grow into its current form, and noted that the public markets enabled founder Jim Ryder to take the company national. Sanchez also highlighted the role of investor relations in keeping investors informed about the company's work. In a September 2015 interview on CNBC's "Mad Money," Sanchez addressed market perceptions of Ryder's financial performance. He attributed a reported decline in revenue to lower fuel costs, which are passed through to customers, and stated that operating revenue excluding fuel was up 6% across business segments. Sanchez described Ryder's truck rental, leasing, and logistics businesses as healthy and growing, and said the company works with both traditional retailers moving into e-commerce and new companies lacking infrastructure. He also distinguished Ryder's rental business from that of United Rentals, noting that rental represents a smaller share of Ryder's revenue.
Transcript (28 segments)
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Robert Sanchez0:02
Ryder's a big company. That's why I'm heading out to meet more of our employees and see how their hard work is creating value for Ryder, our customers and the communities we serve. So, I'm taking you with me. I'm Robert Sanchez, and I'm on location.
Today I'm in Manhattan at the New York Stock Exchange to meet with Calene Candela, our Vice President of Investor Relations.
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Calene Candela0:32
Hey, Robert. How are you?
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Robert Sanchez0:34
Doing well. Welcome to the New York Stock Exchange.
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Calene Candela0:37
Here we are. We're at the center of the universe for the capital markets. This is it, the home of capitalism. Let's get started.
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Robert Sanchez0:42
All right, let's do it. Let's go.
Why don't you tell the folks what the New York Stock Exchange is?
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Calene Candela0:53
Sure. The New York Stock Exchange is the largest stock exchange in the world and one of the oldest. It was established here in New York City in 1792. And really it's a place where companies, whether they're established companies or startup companies, can access capital.
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Robert Sanchez1:09
Alright, so this is where the magic happens.
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Calene Candela1:10
This is it.
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Robert Sanchez1:11
So, Calene, why don't you tell us a little bit more about how Ryder ended up being listed on the New York Stock Exchange back in 1960 and how we got to that. What was the benefit for Ryder, and what does it mean today?
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Calene Candela1:21
As you know, Ryder started in 1933. Jim Ryder started our company in Miami, Florida, grew the company but really got to a point where he wanted to go national, wanted to make something bigger out of Ryder. So he went public, took the company public in 1955. We ended up getting listed on the New York Stock Exchange in 1960. Right now, I think there's around 2,400 companies that are listed on the New York Stock Exchange. We have been on the New York Stock Exchange listed on the exchange longer than 95% of the companies that are listed today.
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Robert Sanchez1:49
That's amazing. If you think about it, it was Jim Ryder's idea back in 1955 and then 1960 to really take the company national. He needed the capital to do that and thanks to the stock exchange and thanks to the public markets was able to do it. Oh, that access to capital was meaningful to making Ryder what it is today. Anybody can own a Ryder stock. Tell us a little bit about who are the Ryder shareholders, employees that participate in the Ryder employee stock purchase plan, how they can also be an owner of Ryder.
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Calene Candela2:17
Absolutely. Today we have around 46 million shares of Ryder that are outstanding. So that's a lot of shares. A lot of those are held by institutional investors. So those big Fidelitys, you know the names that you hear about. A lot of employees own Ryder shares as well. And a great opportunity for employees is to participate in our employee stock purchase program. I love it because as an employee you come in, you get a benefit of buying it at a discount and as the company continues to do well, you can benefit from the appreciation of the stock.
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Robert Sanchez2:41
Right. With all the great strategic work that we've got going on, all the initiatives, all the growth that we're experiencing, that will be great for our shareholders, including those employee shareholders. Alright, so there's a lot of screens and a lot of folks here. You know, I know that most stocks, and Ryder's included, are traded electronically, so there's not a lot of people involved. So what exactly is it that these folks are doing in front of the screens?
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Calene Candela3:01
That's a unique aspect about being a New York Stock Exchange listed company. I mean, one, there's industry leading technology, so there is a lot of volume traded electronically. But in addition to that, it's coupled with an individual, in our case it's Mark Fitzgerald. He's our designated market maker. So Mark is responsible every day for overseeing all the activity in Ryder stock as well as other stocks. All the activity from the opening bell to the closing auction. So we have our own caretaker here at the New York Stock Exchange. He's keeping an eye on it all day long.
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Robert Sanchez3:30
What do you say we go look at the exchange from a different perspective. Let's go. Let's do it.
So here we are in the balcony. We've got a bird's eye view of the entire exchange. When companies come to ring the bell, the opening bell or the closing bell, this is the bird's eye view that they get. They get a chance to see everything that goes on on the trading floor. So really a great vantage point. Calene, I know you've been recently promoted to vice president of investor relations. I know you've also been with the company for 30 years. So first of all, congratulations on the promotion.
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Calene Candela4:04
Thank you. Thank you.
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Robert Sanchez4:05
And tell us a little bit about your background and your career here at Ryder.
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Calene Candela4:08
Sure. I joined Ryder... I was recruited through our MBA recruiting program. Started working in financial roles within the business, so SCS, DTS, and FMS, and then moved over to investor relations. So in investor relations, I really see myself as being a liaison between Ryder and the investment community. So talking to shareholders, potential shareholders, really explaining our financial performance, our strategy, and really why Ryder is a good opportunity as investment for them.
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Robert Sanchez4:32
Well, we are so fortunate to have you in the role because you understand the business. You got a history of working in different parts of the company. We're very fortunate and, and thank you for doing that. It's a great story to tell. Alright, so before we leave, let's take one last look at this wonderful view here of the New York Stock Exchange. And again, hope there's gonna be a lot of buyers of 'R' today.
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Calene Candela4:51
Absolutely.
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Robert Sanchez4:52
Alright, so that was an interesting visit. I hope you found it informative.
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Calene Candela4:56
Absolutely. I think we learned a lot. We were able to highlight how our stock is traded and all the work that goes on here at the New York Stock Exchange. You know, as a public company, it's so important to have somebody that can communicate Ryder's story and you're doing a great job doing that.
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Robert Sanchez5:09
Thank you. Happy to do it. Lots of good things to share. Alright, Robert, thank you.
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Calene Candela5:12
Take care, Calene.
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Robert Sanchez5:13
Being listed on the New York Stock Exchange in 1960 was a milestone for Ryder. It really allowed us to grow into the company that we are today. The important work that Calene is doing in investor relations keeps our investors informed of the great work that our Ryder team is doing. I'm so glad I got to hear her story in the heart of where the action is at the New York Stock Exchange. The stories that make Ryder a leader in our industry are playing out in cities and towns all over North America. I look forward to sharing more of them in future segments of On Location.