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Dec 31, 2021
Rush Enterprises Q4 2021 Earnings Report
Reported strong Q4 and year-end results, highlighted by annual revenues of $5.1 billion and record-high net income of $241.4 million.
Key Takeaways
Rush Enterprises reported Q4 2021 revenues of $1.3 billion and net income of $68.6 million, or $1.18 per diluted share. The company's Board of Directors declared a cash dividend of $0.19 per share of Class A and Class B Common Stock.
Achieved strong financial results despite supply constraints limiting production of new commercial vehicles
Completed acquisition of The Summit Truck Group, the largest in Company history
Aftermarket products and services revenues were $469.1 million in the fourth quarter of 2021
Declared a cash dividend of $0.19 per share of Class A and Class B common stock
Rush Enterprises
Rush Enterprises
Forward Guidance
Supply constraints will likely continue to limit production of new commercial vehicles through at least the middle of 2022. However, demand for new commercial vehicles is expected to remain strong through the year.
Positive Outlook
- Demand for new commercial vehicles is expected to remain strong through the year.
- Heavy-duty truck sales will outperform the market in 2022.
- Continued focus on growing parts sales market share.
- Adding service technicians to the workforce.
- Successfully manage expenses will contribute to increased aftermarket revenues and overall profitability in 2022
Challenges Ahead
- Supply constraints will likely continue to limit production of new commercial vehicles through at least the middle of 2022.
- Component parts supply chain constraints will likely remain an issue affecting the industry
- Working within the confines of truck allocation by the manufacturers
- Parts supply chain constraints will extend through at least the middle of 2022
- Believe Class 4-7 new commercial vehicle sales will be in-line with industry growth in 2022