Rush Enterprises(RUSHA)

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Rush Enterprises(RUSHA) - 2024 Q1 - Quarterly Results
2024-04-23 22:19
Exhibit 99.1 Contact: Rush Enterprises, Inc., San Antonio Steven L. Keller, 830-302-5226 RUSH ENTERPRISES, INC. REPORTS FIRST QUARTER 2024 RESULTS, ANNOUNCES $0.17 PER SHARE DIVIDEND ● Revenues of $1.9 billion, net income of $71.6 million ● Earnings per diluted share of $0.88 ● Challenging market conditions impact Class 8 new truck sales and overall financial performance ● Absorption ratio 130.1% ● Board declares cash dividend of $0.17 per share of Class A and Class B common stock "It is important that I si ...
Rush Enterprises(RUSHA) - 2023 Q4 - Annual Report
2024-02-23 20:47
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-20797 RUSH ENTERPRISES, INC. (Exact name of registrant as specified in its charter) Texas 74-1733016 (State or other juri ...
Rush Enterprises(RUSHA) - 2023 Q4 - Earnings Call Transcript
2024-02-14 21:01
Rush Enterprises, Inc. (NASDAQ:RUSHA) Q4 2023 Earnings Conference Call February 14, 2024 10:00 AM ET Company Participants Rusty Rush - President and Chief Executive Officer Steven Keller - Chief Financial Officer Conference Call Participants Justin Long - Stephens Inc. Andrew Obin - Bank of America Operator Hello, and thank you for standing by. Welcome to Rush Enterprises, Inc. Reports Fourth Quarter 2023 Earnings Results. At this time, all participants are in a listen-only mode. After the speaker’s present ...
Rush Enterprises(RUSHA) - 2023 Q3 - Quarterly Report
2023-11-09 19:10
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________ to _______________________ Commission File Number 0-20797 RUSH ENTERPRISES, INC. (Exact name of registrant as spec ...
Rush Enterprises(RUSHA) - 2023 Q3 - Earnings Call Transcript
2023-10-25 15:44
Rush Enterprises, Inc. (NASDAQ:RUSHA) Q3 2023 Earnings Conference Call October 25, 2023 10:00 AM ET Company Participants Rusty Rush - Chairman, President & Chief Executive Officer Steve Keller - Chief Financial Officer Conference Call Participants Andrew Obin - Bank of America Justin Long - Stephens Operator Good day, and thank you for standing by. Welcome to the Rush Enterprises, Incorporated. Third Quarter 2023 Earnings Results Conference Call. [Operator Instructions] Please be advised that today's confer ...
Rush Enterprises(RUSHA) - 2023 Q2 - Quarterly Report
2023-08-09 19:31
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________ to _______________________ Commission File Number 0-20797 RUSH ENTERPRISES, INC. (Exact name of registrant as specified ...
Rush Enterprises(RUSHA) - 2023 Q2 - Earnings Call Transcript
2023-07-26 18:54
Rush Enterprises, Inc. (NASDAQ:RUSHA) Q2 2023 Earnings Conference Call July 26, 2023 10:00 AM ET Company Participants Marvin Rush - President, CEO and Chairman Steve Keller - CFO Conference Call Participants Jamie Cook - Credit Suisse Andrew Obin - Bank of America Justin Long - Stephens Operator Good day, and thank you for standing by. Welcome to the Rush Enterprises, Inc. Reports Second Quarter 2023 Earnings Results Conference Call. [Operator Instructions] Please be advised that today's conference is being ...
Rush Enterprises(RUSHA) - 2023 Q1 - Quarterly Report
2023-05-10 17:44
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________ to _______________________ Commission File Number 0-20797 RUSH ENTERPRISES, INC. (Exact name of registrant as specified in its charter) Texas (State or other jurisdiction of incorporation or organization) 74-1733016 (I.R.S. Employer Identification No.) ☒ QU ...
Rush Enterprises(RUSHA) - 2023 Q1 - Earnings Call Presentation
2023-05-02 15:30
April 2023 expect expect more. This presentation may contain forward-looking statements (as defined in the Private Securities Litigation Reform Act 1995). Any forward-looking statements are based on current expectations with respect to important risk factors. It is important to note that our actual results could materially differ from the results anticipated in any forward-looking statements that may be contained in this presentation. Important factors that could cause actual results to differ materially fr ...
Rush Enterprises(RUSHA) - 2023 Q1 - Earnings Call Transcript
2023-04-26 16:45
Financial Data and Key Metrics Changes - The company reported first-quarter revenues of $1.9 billion and net income of $90.5 million, translating to $1.60 per diluted share [28] - Parts service and body shop revenues increased to $648 million, up 19.3% year-over-year, with an absorption ratio of 136.5% [6][28] - Lease and rental revenue rose by 21.5% compared to the first quarter of 2022, indicating strong demand for leased vehicles [31] Business Line Data and Key Metrics Changes - Class 8 truck sales reached 4,365 units, capturing 6.4% of the US market and 2.2% in Canada, with a strong backlog expected to maintain sales levels [3] - Class 4-7 new truck sales totaled 3,038 units, representing 5.3% of the US market and 3.2% in Canada, with healthy demand across various segments [7] - Used truck sales declined to 1,684 units, down 29.7% year-over-year, attributed to increased new truck production [8] Market Data and Key Metrics Changes - ACT Research forecasts US Class 4-7 retail sales to be 253,600 units in 2023, an increase of 8.6% from 2022 [30] - The company anticipates that the overall financial results will remain strong through the rest of 2023, despite potential economic impacts [9] Company Strategy and Development Direction - The company is focusing on expanding its mobile service presence and supporting large national fleets, which is expected to drive aftermarket revenue growth [29][41] - Strategic initiatives have improved the quality of earnings and increased the absorption rate, indicating effective expense management [18][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the parts and service business, expecting continued growth despite potential moderation due to inflation [11][25] - The company plans to maintain a strong focus on long-term initiatives, including workforce expansion to support mobile services [29] Other Important Information - The company has increased its stock buyback program to $150 million, with approximately $40 million executed since approval [23][38] - Management highlighted the importance of leveraging a large network to service customers effectively, even those who do not purchase trucks [55] Q&A Session Summary Question: Thoughts on parts and service growth for the remainder of the year - Management believes growth will moderate slightly but still expects to close the year in double digits [12] Question: Expected trend in SG&A and interest expense - SG&A is expected to stabilize in Q2, with interest expenses remaining similar to Q1 levels [15][16] Question: Market perception of valuation multiples - Management feels the market does not fully understand the strategic execution and quality of earnings improvements [17][18] Question: Progression of parts and service business - Management noted strong performance driven by strategic initiatives and a diverse customer base [39][41] Question: Economic outlook across different regions - Management reported strong performance in Florida, Texas, and California, with no weak spots identified [44][58]