Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
2/13/2013 1:30:00 PM Write a Letter to the Editor Write a letter to the Editor

Rush’s 4Q Profit Slips; Full-Year Truck Sales Rise 10%


Oscar Williams, Courtesy of Rush Truck Centers

Truck dealership Rush Enterprises’ fourth-quarter income slipped from a year earlier, but its full-year income improved as 2012 heavy-duty truck sales rose 10%.

The company also said it is ramping up its ability to service natural-gas trucks.

Fourth-quarter net income fell to $14.2 million, or 36 cents per share, from $19.4 million, or 50 cents, a year earlier. Revenue slipped 5.6% to $732.3 million.

For the year, San Antonio, Texas-based Rush earned $62.5 million, or $1.57 per share, up from $55.2 million, or $1.42, in 2011. Revenue jumped 20% to a record $3.1 billion.

In the 2012 fourth quarter , Rush delivered 2,102 new heavy-duty trucks, down from 2,872 a year earlier; 1,789 new medium-duty trucks, up from 1,711 units; and 393 light-duty trucks, up from 292. Rush delivered 1,039 used trucks in the quarter, down from 1,215 a year earlier.

Rush’s 2012 Class 8 retail sales rose 10% to 9,925 vehicles, which accounted for 5% of the total U.S. Class 8 retail truck sales market. The company said it expects U.S. Class 8 retail sales will range from 198,000 to 208,000 units in 2013.

The company is continuing to invest in natural-gas infrastructure to better serve its customers, CEO W.M. “Rusty” Rush said in a statement, adding that the company has about 85 factory-certified technicians to work on natural-gas vehicles.

He said the company has made “substantial investments” at six of its truck centers for service on compressed and liquefied natural-gas trucks and has plans in place to bring additional facilities online as needed in key markets.

“We continue to believe natural gas-powered vehicles will grow in popularity and could represent up to 10% of the Class 8 new truck sales market in the next five years,” Rush said.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

TFM

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement