Ryder System's earnings were driven by "positive momentum" in commercial freight shipments resulting in an greater need for the company's rental trucks, CEO Gregory Swienton told CNBC Tuesday.
"We had another strong quarter to report" this morning, he said. "Things are very good."
It all comes down to commercial freight movement, Swienton said. "Thus far there is still more freight to move, there’s demand, there’s supply and demand imbalances. We’re making new sales. In the short term, transactional activity is still pretty high."