Welcome to our dedicated page for Rush Enterprises news (Ticker: RUSHB), a resource for investors and traders seeking the latest updates and insights on Rush Enterprises stock.
Rush Enterprises, Inc. (NASDAQ: RUSHA, RUSHB) is active in the commercial vehicle industry through its Rush Truck Centers network, and its news flow reflects developments across truck sales, aftermarket services, leasing and rental, capital allocation and network expansion. The company operates what it describes as the largest network of commercial vehicle dealerships in North America, representing manufacturers such as Peterbilt, International, Hino, Isuzu, Ford, Dennis Eagle, IC Bus and Blue Bird.
News updates for Rush Enterprises often include quarterly and annual earnings releases, where the company reports revenues, net income and commentary on market conditions in Class 8 and Class 4–7 commercial vehicle markets in the United States and Canada. These releases typically discuss trends in over-the-road freight, vocational and public sector demand, aftermarket performance, used truck activity and the contribution of Rush Truck Leasing.
Investors following RUSHB news also see announcements about dividend declarations on the company’s Class A and Class B common stock, as well as stock repurchase programs and subsequent increases to those authorizations. Management uses these communications to explain its views on free cash flow, balance sheet strength and capital allocation priorities.
Other notable news items can cover network growth, such as new Rush Truck Centers locations, parts and mobile service sites, and Custom Vehicle Solutions facilities that expand vehicle modification and upfitting capabilities. Updates may also describe aftermarket strategic initiatives, technician workforce efforts, and leasing and rental fleet developments.
This RUSHB news page aggregates these types of company announcements, earnings press releases and related disclosures, giving readers a centralized view of how Rush Enterprises responds to commercial vehicle industry conditions and manages its dealership, aftermarket and leasing operations over time.
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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.
Rush Enterprises will host a conference call on October 26, 2022, at 10:00 a.m. Eastern/9:00 a.m. Central to discuss its Q3 2022 earnings. Earnings will be reported after the market close on October 25, 2022. Interested participants can register for the call through the provided link. A replay of the webcast will be available after the call. Rush Enterprises operates the largest network of commercial vehicle dealerships in North America, with 139 locations across 23 states, offering comprehensive services for various truck and bus manufacturers.
Rush Enterprises is promoting limited-edition pink mudflaps during Breast Cancer Awareness Month, with $4 from each sale going to the Breast Cancer Research Foundation. The mudflaps feature the Rush Truck Centers logo and are available in three sizes across North America. The initiative, led by CEO W.M. Rush, aims to raise awareness and support for breast cancer research. The company has previously raised over $9,000 through sales of graphic tees. This campaign highlights Rush Enterprises’ commitment to social causes while engaging customers and employees.
Rush Enterprises reported record revenues of $1.791 billion and net income of $110.2 million for Q2 2022, marking a 36.1% increase from the previous year. Earnings per share were $1.92, or $1.75 when excluding a $9.8 million one-time gain from an acquisition. The Board declared a cash dividend of $0.21 per share, a 10.5% increase over the prior quarter, payable on September 12, 2022. The company continues to face challenges with supply chain constraints but anticipates strong ongoing demand for commercial vehicles.