Rush’s 2Q Profit Dips
Truck dealership Rush Enterprises’ second-quarter earnings dipped to $13 million or 51 cents a share, from $14.9 million or 59 cents a year earlier.
Revenue decline 8.7% to $519.4, the company said late Wednesday.
Truck segment revenue fell to $488 million from $543.9 million in last year’s second quarter.
Rush delivered 1,869 new Class 8 trucks compared with 2,695 last year; 1,324 new medium-duty trucks compared with 1,185; and 984 used trucks compared with 954 a year ago.
“We prepared for the expected decrease in Class 8 truck sales by ensuring we had surplus inventory of Class 8 trucks with engines built before the new emissions guidelines took effect to sustain us during the first half of 2007,” said Chief Executive Officer Rusty Rush.
“More importantly, we have focused on expanding our medium-duty and vocational truck offerings,” he said in a statement.
Rush also operates a John Deere dealership and has a construction equipment segment. The construction unit’s revenue rose to $26.3 million from $20.2 million last year.
