Rush’s 1Q Earnings Improve
Truck dealer Rush Enterprises said its first-quarter earnings improved to $13 million or 51 cents a share, up from $11.6 million or 46 cents a year earlier.
Revenue rose 6.7% to $531.3 million, Rush said in a statement late Tuesday. Truck segment revenue rose to $505 million, compared with $474.3 in last year’s first quarter.
While Class 8 truck sales declined, medium-duty sales rose 61% in the quarter, the company said.
“We continue to believe that Class 8 truck sales will decrease about 40% this year” due to new emissions regulations, Chairman Marvin Rush said in a statement.
The company expects sales to strengthen starting in the fourth quarter and into 2008 and 2009, in advance of more emissions regulations in 2010, Rush said.
Rush also operates a John Deere dealership and has a construction equipment segment. The construction unit’s revenue rose to $21.5 million from $18.9 million last year.
