Rush Enterprises Inc - RUSHB STOCK NEWS

Rush Enterprises reported revenues of $1.316 billion and a net income of $58 million for Q2 2021, marking significant growth from the previous year. Earnings per diluted share were $1.00, up from $0.30. The company announced a 5.6% increase in quarterly cash dividend to $0.19 per share, to be paid on September 10, 2021. Despite strong demand, supply chain issues persist, affecting new truck availability. The absorption ratio improved significantly to 129.1%, highlighting strong aftermarket performance.

Rush Enterprises is set to host a conference call on July 21, 2021, at 10:00 a.m. Eastern to discuss its earnings for Q2 2021. Earnings reports will be released the previous day, July 20, 2021, after market close. The call will feature key executives including President Rusty Rush and CFO Steve Keller. Investors can participate via phone or listen to a live webcast. An audio replay will be available until July 28, 2021. Rush Enterprises operates the largest network of commercial vehicle dealerships in North America, with over 100 locations across 22 states.

Cummins and Rush Enterprises have signed a Letter of Intent for Cummins to acquire a 50% equity interest in Momentum Fuel Technologies, a division of Rush. This joint venture aims to develop Cummins-branded natural gas fuel delivery systems for North America's commercial vehicle market. The transaction is expected to close later this year, enhancing the service network for compressed natural gas (CNG) and renewable natural gas (RNG) vehicles. The partnership will leverage both companies' strengths, creating an extensive support network across over 250 locations in the US and Canada.

Rush Enterprises reported revenues of $1.232 billion and net income of $45.3 million for Q1 2021, marking a decline from $1.287 billion in Q1 2020. Earnings per diluted share rose to $0.79 from $0.41. The company declared a cash dividend of $0.18 per share, payable on June 10, 2021. Factors contributing to performance included economic recovery and strong aftermarket demand, although supply chain challenges persist. New Class 8 truck sales decreased by 2.7%, while used commercial vehicle sales increased by 23.5%.

Rush Enterprises will host a conference call on April 22, 2021, at 10:00 a.m. Eastern to discuss its Q1 2021 earnings. Earnings will be reported post-market on April 21, 2021. Interested parties can listen live by calling 914-495-8522 or 877-638-4557 (toll-free) and entering the Conference ID 4369865. The call will also be accessible via the investor website.

The company operates the largest network of commercial vehicle dealerships in North America.

Rush Enterprises, Inc. (NASDAQ: RUSHA, RUSHB) announced the retirement of Senior Vice President of Truck Sales, Jim Thor, effective March 12, 2021. Thor has been pivotal since joining in 2004, overseeing significant growth in vehicle sales from 9,856 in 2004 to 30,513 in 2020. He contributed to the establishment of dedicated sales teams and enhanced training programs. Jody Pollard will replace Thor, bringing extensive management experience within the company. Rush Enterprises operates over 100 commercial vehicle dealerships in 22 states, representing major manufacturers.

Rush Enterprises reported annual revenues of $4.7 billion and net income of $114.9 million for 2020, with earnings per diluted share at $2.04. This represents a decline from 2019's revenues of $5.8 billion and net income of $141.6 million. The 4th quarter revenues stood at $1.3 billion, with $41 million in net income. The Board declared a $0.18 cash dividend per share, a 29% increase from the previous quarter. Despite challenges from the COVID-19 pandemic, strategic initiatives helped sustain performance and strengthen the balance sheet.

Rush Enterprises, Inc. (NASDAQ: RUSHA, RUSHB) announced a conference call set for October 22, 2020, at 10:00 a.m. Eastern to discuss their third-quarter earnings, with reports available after market close on October 21, 2020. Investors can participate by calling 914-495-8522 or toll-free at 877-638-4557, using conference ID 3757724. The company operates over 100 commercial vehicle dealerships across North America, representing major manufacturers like Peterbilt and Ford, providing comprehensive services including sales, parts, and financing.

Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB) announced a three-for-two stock split on both Class A and Class B common stocks, effective October 12, 2020. Stockholders of record as of September 28, 2020, will receive an additional half share for each share held. This split will increase the number of Class A shares from approximately 28.1 million to about 42.2 million and Class B shares from roughly 8.4 million to 12.6 million. Additionally, the CEO stated plans to maintain a quarterly cash dividend of $0.14 per share, effectively raising the dividend by 50%.