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Ryder's Partnership With Uber Touches 100K Ride Milestone

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Ryder System’s (R - Free Report) association with Uber Technologies (UBER - Free Report) recently touched a new high with the former reporting 100,000 rides, while using Uber for Business. Notably, Uber for Business helps companies to serve their customers more efficiently by leveraging the power of the platform within their operations.  

Ryder’s customer service is enhanced significantly through Uber for Business, which enables it to access multiple tailwinds like requesting and managing rides. Since the inception of this partnership in August 2018, rental service and maintenance managers of Ryder in the U.S. and Canada have utilized Uber for Business in order to access transportation facility for drivers and technicians, thereby resulting in lower fuel costs and less customer downtime.

Notably, the partnership has provided a customer-centric approach to modern commercial transportation services. Also, this association has streamlined Ryder’s operations and improved overall efficiency. Notably, Uber for Business helps Ryder manage invoices and payment processes centrally .Moreover, Ryder is able to identify opportunities for managing pickup and delivery in a better manner.

Another advantage of this partnership is that it is not mandatory for Ryder customers who ride with Uber for Business to have an Uber account on their phones to avail the service. This is because Ryder coordinates the relevant details on their behalf directly through the platform.

Zacks Rank & Key Picks

Ryder currently carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the Zacks Transportation sector are Air Lease Corporation (AL - Free Report) and Teekay Tankers Ltd. (TNK - Free Report) . Both the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings (three to five years) growth rate for Air Lease and Teekay Tankers is estimated at 3.1% and 3%, respectively.

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