Rush Enterprises’ 1Q Earnings Decline
Truck dealership Rush Enterprises’ first-quarter net earnings were $9.7 million, or 25 cents per share, down from $13 million, or 34 cents, a year ago.
Revenues fell 24% to $403.9 million, the company said late Thursday. Truck segment revenue fell to $376.7 million, from $505 million last year.
Rush delivered 1,266 new heavy-duty trucks in the quarter, compared with 2,030 in the previous first quarter. It delivered 972 new medium-duty trucks, down from 1,439, and 900 used trucks, down from 1,077 last year.
In addition to trucks, Rush also operates a John Deere dealership and has a construction equipment segment.
The construction equipment segment had revenue of $22.4 million in the quarter, up from $21.5 million last year.
