Rush Enterprises’ 1Q Profit Slips
Truck dealership Rush Enterprises’ first-quarter profit declined to $2.2 million, or 6 cents a share, from $2.9 million, or 8 cents, a year ago.
Revenue slipped 6.3% to $308.4 million, San Antonio-based Rush said in a statement. Truck segment revenue fell to $295.5 million, from $313 million last year.
The company sold 969 new heavy-duty trucks in the quarter, down from 1,032 last year; 611 new medium-duty trucks, down from 754; and 686 used trucks, up from 577 a year ago.
Rush said earlier this month that plans to purchase the assets of Lake City Cos., the owner of a chain of International truck dealerships, for about $76.5 million.
In addition to trucks, Rush operates a John Deere dealership and has a construction equipment segment.
