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Sep 30, 2022
Rush Enterprises Q3 2022 Earnings Report
Achieved strong financial results driven by healthy demand for commercial vehicles and aftermarket services.
Key Takeaways
Rush Enterprises reported revenues of $1.86 billion and net income of $90.4 million, or $1.59 per diluted share, for the third quarter ended September 30, 2022. The company's Board of Directors declared a cash dividend of $0.21 per share of Class A and Class B common stock.
Revenues reached $1.86 billion with a net income of $90.4 million.
Earnings per diluted share amounted to $1.59.
The absorption ratio was 136.2%.
A cash dividend of $0.21 per share of Class A and Class B common stock was declared.
Forward Guidance
Rush anticipates strong financial results for the remainder of 2022, driven by disciplined expense management and strategic aftermarket initiatives.
Positive Outlook
- Strong demand for aftermarket services is expected to continue.
- New Class 8 truck production is anticipated to increase.
- The company's backlog remains strong.
- Strategic initiatives are expected to result in aftermarket results substantially outperforming the industry.
- Parts supply is beginning to catch up to the needs of the market.
Challenges Ahead
- Inflation and rising interest rates are beginning to negatively impact consumer spending.
- Rising interest rates, soft spot rates, and elevated fuel prices are negatively impacting smaller carriers.
- Used truck values have declined significantly since their peak.
- Medium-duty commercial vehicle production is expected to remain constrained.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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