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Mar 31, 2022
Rush Enterprises Q1 2022 Earnings Report
Reported record first quarter financial results driven by strong Class 8 truck sales and aftermarket growth.
Key Takeaways
Rush Enterprises reported record first quarter financial results with revenues of $1.563 billion and net income of $92.5 million, or $1.60 per diluted share. Excluding a one-time gain, adjusted net income was $82.9 million, or $1.43 per diluted share.
Revenues reached $1.6 billion with net income of $92.5 million.
Earnings per diluted share were $1.43, excluding a one-time gain.
The absorption ratio was 136.3%.
The board declared a cash dividend of $0.19 per share.
Rush Enterprises
Rush Enterprises
Rush Enterprises Revenue by Segment
Revenue by Segment
Aftermarket Products and Services Sales Revenue
CapyFin.com Forward Guidance
The company expects continued strong performance in 2022, driven by pent-up demand and strategic initiatives, but is monitoring potential negative impacts from elevated fuel prices, inflation, and rising interest rates.
Positive Outlook
- Continued strong economy and healthy consumer spending.
- Pent-up demand for new commercial vehicles and aftermarket services.
- Ongoing integration of strategic initiatives.
- Disciplined approach to expense management.
- Strong backlogs.
Challenges Ahead
- Elevated fuel prices negatively impacting spot market rates.
- Inflation and rising interest rates may negatively impact consumer spending and capital expenditures.
- Production constraints caused by global supply chain issues.
- Truck allocation by manufacturers limiting ability to meet market demands.
- Used truck values are beginning to retract from their historically high levels in 2021.