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Steps by
Ryder System (NYSE: R) to increase the valuation of its used truck inventory, and to get the size of that pool under control, are starting to catch up with the company s goals.
That s one of the messages that came out of two recent presentations by Ryder CEO Robert Sanchez: last week after the company released its fourth-quarter earnings and on Wednesday, when Sanchez presented via video link to the Citi Industrials Conference.
Sanchez, on the earnings call, said Ryder is now selling used trucks above the value of the residuals it set for the fleet after earlier writedowns, some of which could easily be described as steep. Tractor sales in the fourth quarter were still slightly below the levels the company has established in its accounting, he said.
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