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Dec 31, 2024
Rush Enterprises Q4 2024 Earnings Report
Rush Enterprises reported a decline in net income for Q4 2024 despite stable revenues.
Key Takeaways
Rush Enterprises reported Q4 2024 revenue of $2.0 billion, remaining stable compared to the same period last year. Net income declined to $74.8 million, with diluted EPS at $0.91. The company faced weak demand in Class 8 truck sales but saw resilience in vocational and public sector sales. Parts and service sales revenue slightly declined year-over-year. Leasing and rental revenue increased marginally. The company also declared a dividend of $0.18 per share.
Q4 2024 revenue remained flat at $2.0 billion.
Net income declined to $74.8 million from $78.0 million in Q4 2023.
Class 8 truck sales were weak due to freight recession and high interest rates.
Aftermarket services and leasing revenues showed resilience.
Revenue by Segment
Forward Guidance
Rush Enterprises expects a slow recovery in freight rates, leading to continued challenges in new Class 8 truck sales in the first half of 2025, but potential improvements in the second half. Aftermarket services are expected to follow demand improvements.
Positive Outlook
- Freight rate recovery expected in late Q2 2025.
- Strong vocational and public sector truck sales anticipated.
- Expansion of aftermarket services and mobile technicians.
- Continued investment in leasing and rental fleet.
- Stock repurchase plan of $150 million through 2025.
Challenges Ahead
- Class 8 truck sales expected to remain weak in H1 2025.
- Aftermarket parts and service demand to remain sluggish in early 2025.
- Potential impact of new tariffs on commercial vehicle parts.
- Macroeconomic uncertainties and high interest rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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