The Miami-based company forecast full-year comparable earnings of between $3.75 and $3.90 per share, up from its prior view of between $3.65 and $3.85 per share.
Ryder, which in June cut its forecast for the second quarter on lower demand for its commercial rental services, said it expects cost cuts and commercial rental fleet reduction to drive earnings by about 18 cents per share in the second half.
Earlier in the day, United Parcel Service reported higher quarterly results that missed forecasts and the world's largest package delivery company cut its 2012 outlook, citing uncertain global economic conditions.
Net income in the second quarter rose due to better-than-anticipated retail and wholesale pricing on used vehicle sales and lower maintenance costs, Ryder said.
Net income rose to $46.7 million, or 91 cents per share, for the second quarter, from $40.0 million, or 77 cents per share a year earlier.
Excluding items, it earned $1.00 per share.
Revenue rose 3 percent to $1.56 billion.
Analysts on average expected earnings of 93 cents per share, on revenue of $1.59 billion, according to Thomson Reuters I/B/E/S. (Reuters)
