Rush Enterprises Q2 2022 Earnings Report
Key Takeaways
Rush Enterprises reported record second quarter revenues of $1.791 billion and net income of $110.2 million, or $1.92 per diluted share. Excluding a one-time gain, adjusted net income was $100.4 million, or $1.75 per diluted share. The Board declared a cash dividend of $0.21 per share, a 10.5% increase over the prior quarter.
Revenues reached $1.791 billion and net income was $110.2 million.
Earnings per diluted share were $1.92, or $1.75 excluding a one-time gain.
The company's absorption ratio was 136.4%.
A cash dividend of $0.21 per share was declared, a 10.5% increase over the prior quarter.
Rush Enterprises
Rush Enterprises
Forward Guidance
Rush Enterprises believes its financial results will be strong for the remainder of 2022, citing pent-up demand and managing expenses, while cautiously monitoring inflation and rising interest rates.
Positive Outlook
- Strong freight demand
- Generally healthy consumer spending
- Pent up demand for new commercial vehicles
- Pent up demand for aftermarket parts and services
- Managing expenses company-wide
Challenges Ahead
- Inflation
- Rising interest rates
- Elevated fuel prices impacting spot market rates
- Component parts supply chain issues impacting new truck production
- Weak spot rates and high diesel prices impacting used truck demand