Rush Enterprises, Inc. reported its financial results for the second quarter and first half of 2025, revealing a total revenue of $1.93 billion for the three months ended June 30, 2025, a decrease of 4.8% from $2.03 billion in the same period of 2024. For the first six months of 2025, revenue was $3.78 billion, down 3.0% from $3.90 billion in the prior year. The company's net income for the second quarter was $72.99 million, or $0.90 per diluted share, compared to $78.78 million, or $0.97 per diluted share, in the same quarter of 2024. For the first half of 2025, net income was $133.61 million, down from $150.27 million in the first half of 2024.
The decline in revenue was primarily attributed to decreased sales of new Class 8 trucks, which fell by 20.3% year-over-year in the U.S. and 43.4% in Canada. The company sold 3,178 new Class 8 trucks in the second quarter of 2025, compared to 3,985 in the same quarter of 2024. Despite this, sales of new light-duty vehicles increased by 30.9%, and the company experienced a 6.3% rise in lease and rental revenues, reflecting the addition of new vehicles to its fleet and consistent demand from customers.
In terms of operational developments, Rush Enterprises expanded its footprint by acquiring Leeds Transit, Inc. for approximately $25.6 million, which included dealership locations in Ontario and Quebec. The company also reported a backlog of commercial vehicle orders valued at approximately $967 million as of June 30, 2025, a significant decrease from $1.81 billion a year earlier, reflecting ongoing challenges in the freight market and economic uncertainty.
Looking ahead, Rush Enterprises anticipates a challenging environment for the commercial vehicle market, with forecasts indicating a 10.5% decrease in new U.S. Class 8 retail truck sales for 2025. The company expects to maintain a market share of 5.4% to 5.9% in this segment, projecting sales of approximately 12,000 to 13,000 new Class 8 trucks in the U.S. and around 400 in Canada. The company plans to continue focusing on its Aftermarket Products and Services, which have shown slight growth, and expects lease and rental revenue to increase by approximately 5% compared to 2024.
About RUSH ENTERPRISES INC TX
Rush Enterprises, Inc. is a full-service retailer of commercial vehicles, operating a network of over 143 Rush Truck Centers in the U.S. and Canada. It sells new and used trucks, provides aftermarket parts, service, leasing, rental, and financial products. The company emphasizes integrated, full-service dealership operations, strategic expansion, and comprehensive customer solutions in the commercial vehicle industry.
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