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Jun 30, 2025
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.
Revenue by Segment
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.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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