NASDAQ$RUSHA
Rush Enterprises Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Rush Enterprises reported a decrease in net income despite an increase in revenue due to challenging market conditions impacting aftermarket sales.
Rush Enterprises reported a revenue increase of 1.2% to $2.027 billion for Q2 2024, but net income decreased to $78.7 million, or $0.97 per diluted share, compared to $98.3 million, or $1.17 per diluted share, in Q2 2023. The company declared a cash dividend of $0.18 per share, a 5.9% increase over the prior quarter. The results were impacted by weak demand for Class 8 trucks, aftermarket parts, and services due to the freight recession and high interest rates.
- Revenues increased by 1.2% year-over-year to $2.027 billion.
- Net income decreased from $98.3 million to $78.7 million, with EPS down from $1.17 to $0.97.
- Aftermarket products and services revenue decreased by 3.6% to $627.4 million.
- The company increased its quarterly cash dividend by 5.9% to $0.18 per share.
Headline financials
Revenue & EPS history
Rush Enterprises · Revenue · Quarterly
$2.03B
Forward guidance
The company expects the freight recession to continue through the remainder of the year, with no meaningful recovery in freight rates anticipated until 2025. New Class 8 truck sales are expected to soften in Q3, while Class 4-7 commercial vehicle sales are expected to remain steady. The company anticipates commercial vehicle sales will keep pace with, if not outperform, the market.
Tailwinds
- Expense reductions implemented in Q2 to mitigate expected revenue decrease.
- Diverse customer base and focus on strategic initiatives will help manage the challenging market cycle.
- Confidence in the professional salesforce to take advantage of sales opportunities.
- Expect vocational sales to remain strong in the third quarter.
- Executed well on used truck pricing and inventory strategies.
Headwinds
- Freight recession expected to continue through the remainder of the year.
- No meaningful recovery in freight rates anticipated until 2025.
- Difficult operating conditions expected to continue for the near term.
- New Class 8 truck sales expected to soften in Q3.
- Expect truck pricing to become more competitive in the second half of the year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.7%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+1.8%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+14.0%
Q3 2016
Best reaction
-17.1%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.9% | -5.8% | -8.0% | |
| Q4 2025 | +2.9% | +4.7% | -10.0% | |
| Q3 2025 | -0.1% | -7.3% | +3.3% | |
| Q1 2025 | -0.6% | -5.8% | -2.6% | |
| Q4 2024 | +1.3% | -9.7% | -12.7% | |
| Q3 2024 | +5.5% | +3.9% | +11.2% | |
| Q2 2024 | +7.1% | -1.9% | +2.9% | |
| Q1 2024 | -3.8% | -3.2% | -9.3% | |
| Q4 2023 | -1.5% | -2.2% | +1.1% | |
| Q3 2023 | -9.4% | -8.6% | +0.1% | |
| Q2 2023 | +3.8% | +1.2% | +0.1% | |
| Q1 2023 | -3.9% | -2.3% | -2.3% | |
| Q4 2022 | +7.6% | +5.5% | -9.5% | |
| Q3 2022 | -1.3% | +2.4% | +6.2% | |
| Q2 2022 | -5.0% | -4.0% | +1.9% | |
| Q1 2022 | +3.3% | +3.5% | +3.4% | |
| Q4 2021 | -1.3% | -1.4% | +4.5% | |
| Q3 2021 | +6.7% | +13.4% | +18.0% | |
| Q2 2021 | +7.1% | +6.8% | -0.8% | |
| Q1 2021 | -1.7% | +3.2% | +0.6% | |
| Q4 2020 | -3.2% | -3.9% | +16.0% | |
| Q3 2020 | +2.8% | +3.2% | +6.2% | |
| Q2 2020 | +8.0% | +9.2% | +12.1% | |
| Q1 2020 | +7.7% | +13.3% | +21.5% | |
| Q4 2019 | -7.9% | -4.7% | -25.3% | |
| Q3 2019 | +1.7% | +4.3% | +2.2% | |
| Q2 2019 | +4.2% | +5.4% | +4.7% | |
| Q1 2019 | -1.9% | -3.7% | -19.2% | |
| Q4 2018 | +9.9% | +13.6% | +7.3% | |
| Q3 2018 | -0.9% | +4.8% | +12.8% | |
| Q2 2018 | -5.3% | -2.0% | -4.3% | |
| Q1 2018 | -5.2% | -4.3% | +0.6% | |
| Q4 2017 | -11.2% | -11.8% | -9.6% | |
| Q3 2017 | +11.8% | +7.0% | +2.6% | |
| Q2 2017 | +7.4% | +13.0% | +2.6% | |
| Q1 2017 | +6.7% | +7.4% | +4.5% | |
| Q4 2016 | +4.8% | +7.3% | +5.4% | |
| Q3 2016 | +14.0% | +15.0% | +28.9% | |
| Q2 2016 | +0.7% | +1.6% | +4.9% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | -17.1% | — | — | |
| Q3 2015 | -5.3% | — | — | |
| Q2 2015 | +4.0% | — | — | |
| Q1 2015 | -0.2% | — | — | |
| Q4 2014 | +0.5% | — | — | |
| Q3 2014 | +0.1% | — | — | |
| Q2 2014 | +6.8% | — | — | |
| Q1 2014 | -2.6% | — | — | |
| Q4 2013 | +2.4% | — | — | |
| Q3 2013 | +2.1% | — | — | |
| Q2 2013 | -3.8% | — | — | |
| Q1 2013 | +1.9% | — | — | |
| Q2 2012 | -2.9% | — | — | |
| Q4 2012 | +2.2% | — | — | |
| Q3 2012 | +0.7% | — | — | |
| Q1 2011 | -3.2% | — | — | |
| Q1 2012 | -3.2% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q4 2009 | -1.0% | — | — | |
| Q2 2011 | -1.0% | — | — | |
| Q3 2011 | -4.6% | — | — | |
| Q3 2010 | -4.6% | — | — | |
| Q2 2010 | +0.3% | — | — | |
| Q4 2010 | +0.3% | — | — | |
| Q1 2010 | +13.0% | — | — |
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