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Jun 30
Rush Enterprises Q2 2025 Earnings Report
Rush Enterprises reported its second quarter 2025 earnings, with revenues of $1.931 billion and net income of $72.4 million, or $0.90 per diluted share.
Key Takeaways
Rush Enterprises faced continued challenging market conditions in Q2 2025, including a persistent freight recession, economic uncertainty, and unclear engine emissions regulations, which impacted demand for new vehicles and aftermarket products. Despite these headwinds, the company achieved revenues of $1.931 billion and a net income of $72.4 million, demonstrating resilience through strong operational discipline and customer service.
Revenues for Q2 2025 were $1.931 billion, a decrease from $2.027 billion in Q2 2024, reflecting challenging market conditions.
Net income for the quarter was $72.4 million, or $0.90 per diluted share, compared to $78.7 million, or $0.97 per diluted share, in the prior year.
Aftermarket products and services revenues increased by 1.4% year-over-year to $636.3 million, accounting for 63.0% of total gross profit.
The company's absorption ratio improved to 135.5% in Q2 2025 from 134.0% in Q2 2024, indicating strong operational efficiency.
Rush Enterprises
Rush Enterprises
Rush Enterprises Revenue by Segment
Revenue by Segment
New and Used Commercial Vehicle Sales Revenue
CapyFin.comAftermarket Products and Services Sales Revenue
CapyFin.comLease and Rental Sales Revenue
CapyFin.comFinance and Insurance Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Rush Enterprises anticipates stable aftermarket performance with potential for modest growth in Q3 2025. New Class 8 truck sales are expected to decrease sequentially in Q3 due to economic and regulatory uncertainty, while new Class 4-7 commercial vehicle sales are projected to remain similar to Q2 results. Used truck performance is also expected to be in line with Q2.
Positive Outlook
- Aftermarket performance is expected to remain stable with potential for modest growth.
- Encouraging signs of recovery and sequential growth across most customer segments in aftermarket.
- Strong sales in the Class 8 vocational market are expected to continue supporting overall performance.
- New Class 4-7 commercial vehicle sales outlook for the second half of the year remains positive.
- Used truck market is less exposed to tariff-related uncertainty, potentially boosting buyer confidence.
Challenges Ahead
- Economic and regulatory uncertainty is expected to continue weighing on new Class 8 truck demand.
- No meaningful recovery in the ongoing freight recession is anticipated in the near term.
- New Class 8 sales may decrease sequentially in the third quarter.
- Too much market uncertainty remains to provide a reliable outlook on the new Class 8 truck sales market beyond the third quarter.
- Providing a reliable outlook beyond the upcoming quarter is difficult due to potential material impacts from U.S. trade policy changes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income