Mon, Feb 24, 11:03 AM (55 days ago)
Rush Enterprises, Inc. (RUSHA) reported a 1.5% decrease in total revenues to $7,804.7 million for the year ended December 31, 2024, compared to $7,925.0 million in 2023. New Class 8 truck sales dropped 11.4%, while new medium-duty truck sales increased by 5.1%. Gross profit decreased by 3.9% to $1,531.4 million, with a gross profit margin of 19.6%. Aftermarket Products and Services accounted for 32.2% of total revenues, generating $2,516 million. Operating expenses decreased by 2.6% to $995.6 million. Net income fell 12.3% to $304.97 million, with earnings per share at $3.85. The company anticipates a modest recovery in 2025, expecting U.S. Class 8 truck sales to increase slightly to 252,000 units. Key risks include reliance on PACCAR for inventory, fluctuating interest rates, and market competition. The company maintains a strong liquidity position with $228.1 million in cash and working capital of $736.1 million as of December 31, 2024. Strategically, Rush Enterprises aims to expand its service offerings and dealership network, while navigating potential impacts from environmental regulations and market conditions.