Rush Enterprises Inc Stock Price, News & Analysis

Rush Enterprises reported Q1 2023 revenues of $1.912 billion and net income of $90.5 million, maintaining earnings per diluted share at $1.60. Compared to Q1 2022, revenues rose by 22.3%, while net income slightly declined. The company benefited from strong demand for new commercial vehicles, particularly Class 4-7 trucks, achieving a significant aftermarket revenue growth of 19.3% to $648.2 million. A cash dividend of $0.21 per share was declared, payable on June 9, 2023, to shareholders recorded by May 10, 2023. The backlog for trucks stands at $4.210 billion. Despite challenges in the used truck market, Rush remains optimistic about continued production recovery and strong demand.

Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB) will host a conference call on April 26, 2023, at 10:00 a.m. Eastern to discuss its first-quarter 2023 earnings, reported after market close on April 25, 2023. The company operates the largest network of commercial vehicle dealerships in North America, with over 150 locations. Rush Truck Centers represents major manufacturers like Peterbilt and International, providing a range of services from vehicle sales to financing and aftermarket parts. Interested participants can access the call and register via the company’s investor website.

Rush Enterprises reported record annual revenues of $7.1 billion for 2022, with a net income of $391.4 million, equating to earnings of $6.85 per diluted share. This reflects a significant increase from $5.1 billion in revenues and $241.4 million in net income in 2021. The board declared a cash dividend of $0.21 per share for both Class A and Class B stock, to be paid on March 16, 2023. The strong performance was attributed to increased dealership numbers and robust demand for Class 8 trucks and aftermarket services. Aftermarket revenues rose 32.3% year-over-year, contributing to overall profitability.

Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB) will host a conference call on February 16, 2023, at 10:00 a.m. Eastern to discuss its earnings for the fourth quarter and year-end 2022. Earnings results will be released after market close on February 15, 2023. The call is accessible online, and participants are encouraged to register in advance. Rush Enterprises operates the largest commercial vehicle dealership network in North America, with 139 locations in 23 states, offering services from vehicle sales to aftermarket support. For further details, visit their investor relations website.

Rush Enterprises has announced a new stock repurchase program of up to $150 million for its Class A and Class B common stock. This program, which represents a 50% increase over the previous plan, demonstrates the company's confidence in achieving its five-year strategy aiming for $10 billion in revenue and a 6% pre-tax return on sales. The prior program, which saw $93.1 million in shares repurchased, was terminated to make way for this new initiative, effective until December 31, 2023.

Rush Enterprises reported strong Q3 2022 results with revenues reaching $1.86 billion and net income of $90.4 million, translating to $1.59 per diluted share. This reflects a 47.2% increase in revenues compared to Q3 2021. The Board declared a cash dividend of $0.21 per share, payable on December 9, 2022. The company continues to experience robust demand for commercial vehicles and aftermarket services, while also managing supply chain challenges. Additionally, aftermarket services generated approximately 63.8% of gross profits, indicating a strategic focus on this segment.