RUSHB · Rush Enterprises, Inc.

Rush Enterprises reported Q1 2026 results reflecting a challenging commercial vehicle environment. Revenue declined 9.2% year-over-year to $1.68 billion, driven by a 21% industry drop in new Class 8 truck sales and a 13.9% decline in Class 4-7 sales. However, net income increased to $61.5 million ($0.77 EPS) from $60.3 million ($0.73 EPS) in the prior year, supported by resilient aftermarket operations and disciplined expense management. Aftermarket parts, service, and collision center revenues rose 1.3% to $627.2 million, representing 66.1% of gross profit, with an absorption ratio of 126.9%. The company outperformed the market in new Class 8 truck sales, with a 6% decline versus the industry's 21% drop, capturing 7.2% market share. Management characterized Q1 as the trough of the downcycle, citing early indicators of improvement such as modest freight rate increases, higher miles driven, and improved customer sentiment. The company also announced a $0.19 per share quarterly dividend. Additionally, Rush signed an asset purchase agreement to acquire Peterbilt dealerships in Louisiana and Mississippi, expected to close in the coming months, reflecting continued network expansion. Overall, the diversified business model—combining aftermarket services, leasing, and rental operations—provided stability amid weak new truck sales, positioning the company for gradual recovery.