Rush Enterprises’ Income, Sales Jump on Higher Truck Sales

Truck dealership Rush Enterprises said its third-quarter net income improved on higher Class 8 and medium-duty truck sales.

Net income rose to $16 million, or 41 cents a share, from $14.2 million, or 37 cents, a year ago, Rush said late Monday. Revenue jumped 71.6% to $696.4 million.

Truck revenue rose to $487.3 million, from $248.3 million a year ago, while parts, service and body shop sales rose to $182.6 million, from $132.1 million.

Rush delivered 2,474 new heavy-duty trucks in the quarter, up from 1,283 a year ago; 1,427 new medium-duty trucks, up from 650; and 1,170 used trucks, up from 899 a year ago. It also sold 301 light-duty commercial vehicles, up from 28 last year.

Rush said it “continues to pursue its acquisition strategy,” and that its agreement to buy West Texas Peterbilt and Peck Road Ford in Whittier, Calif., are scheduled to close this quarter.