Rush Enterprises (RUSHA) research, news, and more from GeoInvesting

Company description

Mon, 24 Oct 2011 04:00:00 GMT

Rush Enterprises, Inc. owns and operates the largest network of commercial vehicle dealerships in the United States, representing truck and bus manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, UD, Blue Bird and IC Bus. The Company's vehicle centers are strategically located in high traffic areas on or near major highways in 14 states throughout the Southern and Western United States. These one-stop centers offer an integrated approach to meeting customer needs -- from sales of new and used vehicles to aftermarket parts, service and body shop operations plus a wide array of financial services, including financing, insurance, leasing and rental. Rush Enterprises' operations also provide vehicle up-fitting, chrome accessories and tiresRush Enterprises, Inc. owns and operates the largest network of commercial vehicle dealerships in the United States, representing truck and bus manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, UD, Blue Bird and IC Bus. The Company's vehicle centers are strategically located in high traffic areas on or near major highways in 14 states throughout the Southern and Western United States. These one-stop centers offer an integrated approach to meeting customer needs -- from sales of new and used vehicles to aftermarket parts, service and body shop operations plus a wide array of financial services, including financing, insurance, leasing and rental. Rush Enterprises' operations also provide vehicle up-fitting, chrome accessories and tires

GeoSpecial Notes

Thu, 09 Aug 2012 04:00:00 GMT

On 10/25/2011 we added RUSHA to the GeoSpecial list @ $18.89

Catalyst: Strong third quarter 2011 results. Very bullish third quarter 2011 conference call and the company had a Geo Power Ranking (GPR) of 5.

We are now removing RUSHA from the GeoSpeicial List @ $16.34

Current road block: GPR is not favorable for the next six quarters. Management is cautious for the second half of 2012 due to current political and fiscal uncertainity.

Peak performance: Reached a high of $24.66 on 02/15/2012 for a maiximum potential return of 30%
Current Price: $16.34

Comments & Business Outlook

Wed, 25 Apr 2012 04:00:00 GMT

First Quarter 2012

Company's gross revenues totaled $777.3 million, a 74.2% increase from gross revenues of $446.1 million reported for the first quarter ended March 31, 2011.
Net income for the quarter was $15.9 million, or $0.40 per diluted share, compared with net income of $7.3 million, or $0.19 per diluted share, in the quarter ended March 31, 2011.

We are extremely pleased with our financial performance this quarter and continue to see positive results from our efforts to be the premier solutions provider to the commercial vehicle industry," said W. M. "Rusty" Rush, President and Chief Executive Officer of Rush Enterprises, Inc.

"We expect U. S. Class 8 retail sales will reach approximately 200,000 units in 2012, driven primarily by continued replacement truck purchases from large fleets and activity in the energy sector," explained Rusty Rush. Industry analysts forecast U. S. Class 4-7 retail sales to be 160,000 units in 2012. "Through 2012, we believe demand for used trucks will remain consistent and residual values will remain strong. We anticipate that 2013 and 2014 will be strong truck sales markets," Rusty Rush added.

"I continue to be proud of the progress the Company has made in moving forward with its growth strategies and decreasing the impact of Class 8 truck sales on our financial performance. I sincerely appreciate the efforts of our entire workforce in contributing to our accomplishments," said W. Marvin Rush, Chairman and Founder of Rush Enterprises, Inc.

Comments & Business Outlook

Wed, 15 Feb 2012 05:00:00 GMT

Fourth Quarter 2011 Results

In the fourth quarter ended December 31, 2011, the Company's gross revenues totaled $776.1 million, a 67.6% increase from gross revenues of $463.0 million reported for the fourth quarter ended December 31, 2010.
Income from continuing operations and net income for the quarter was $19.4 million, or $0.50 per diluted share, compared to $9.2 million, or $0.24 per diluted share, in the quarter ended December 31, 2010.

"2011 was a milestone year for Rush Enterprises in which we achieved record financial performance and accomplished several strategic goals," said W. M. "Rusty" Rush, President and Chief Executive Officer of Rush Enterprises, Inc. "We continued to transition the Company into the premier solutions provider to the commercial vehicle industry and decreased the impact of Class 8 truck sales on our financial performance. We ended 2011 in a strong financial position."

"Throughout 2011 we delivered on our three-pronged growth strategy – to expand aftermarket capabilities, to broaden the scope of our commercial vehicle product offerings and to extend our network of Rush Truck Centers. We achieved record quarterly absorption rates in three of the four quarters of 2011 and set a new record for our annual absorption rate. We expanded our aftermarket service solutions, while adding specialized up-fitting and modification capabilities. Also, we purchased additional commercial vehicle franchises and expanded in our existing territories thereby growing our network of Rush Truck Centers to over 70 dealership locations."

The Company expects U.S. Class 8 retail sales will remain on pace to reach approximately 200,000 to 215,000 units in 2012, just slightly above historical replacement levels. U. S. retail sales for Class 4-7 are expected to reach 163,000 units in 2012, a 13% increase over 2011. "We expect first quarter deliveries to be less than fourth quarter deliveries due to the expiration of tax incentives related to bonus depreciation, and because a brake valve used on many new Class 8 trucks was recently recalled," Rusty Rush cautioned.

"We believe activity will remain strong for service and sales in the energy sector in 2012. We are also encouraged by steady economic growth, which has lead to improvements in vocational segments not related to the energy sector. Based on the average age of the U.S. Class 8 truck fleet and assuming continued general economic stability, we continue to expect strong truck sales markets in 2013 and 2014," Rusty Rush added.

Acquisitions

Thu, 15 Dec 2011 05:00:00 GMT

SAN ANTONIO, Dec. 14, 2011 (GLOBE NEWSWIRE) -- Rush Enterprises, Inc. (Nasdaq:RUSHA) (Nasdaq:RUSHB), today announced that it has acquired certain assets of West Texas Peterbilt, a Peterbilt dealership group with five locations in Texas. The acquisition expands the Company's Rush Truck Center commercial vehicle dealership network to 70 locations in 14 states.

The acquisition of West Texas Peterbilt includes dealerships in Amarillo, Lubbock and Odessa, Texas that offer Peterbilt trucks, parts and service, a parts and service facility in Dalhart, Texas and a parts facility in Hereford, Texas. These dealerships will operate in their current locations as Rush Truck Centers. Rush Truck Leasing will operate a PacLease truck rental and leasing franchise at its existing location in Lubbock, Texas. The acquisition of West Texas Peterbilt expands the Company's representation of Peterbilt in Texas to include the entire state. The purchase price for the assets of West Texas Peterbilt was approximately $25 million.

Rush Enterprises had audited revenues of $1.5 billion for the year ending 2010. West Texas Peterbilt had unaudited revenues of $49 million for the same time period. The Company expects the transaction to be accretive to future earnings.

"We are excited to expand our dealership service network across Texas. The acquisition of West Texas Peterbilt will allow us to provide superior support for our customers and continue to expand our offering of innovative solutions that drive efficiencies into their businesses," said W.M. "Rusty" Rush, President and Chief Executive Officer of Rush Enterprises, Inc..

"I have tremendous respect for the Henson family and all of the employees of West Texas Peterbilt who made West Texas Peterbilt a formidable competitor and one of the most respected Peterbilt dealership groups in the country. We are excited to welcome the employees of West Texas Peterbilt into the Rush family and continuing their commitment to excellent service in West Texas," Rusty Rush continued.

Comments & Business Outlook

Mon, 24 Oct 2011 04:00:00 GMT

Rush Enterprises, Inc. Reports Third Quarter Results:

Company's operating strategy paying off
Highest quarterly pre-tax income in Company history
Record parts, service and body shop revenues continue
Quarterly absorption reaches new high of 116%

"I am extremely pleased with the overall financial performance of the Company. When setting the vision for this Company more than 45 years ago, I never imagined that we could diversify our operations in a manner that would allow us to achieve this level of profitability in a below average Class 8 truck sales market," said W. Marvin Rush, Chairman and Founder of Rush Enterprises, Inc. "We remain extremely proud of our entire workforce and congratulate them on helping the Company continue to achieve outstanding financial results."

SAN ANTONIO, Texas, Oct. 24, 2011 (GLOBE NEWSWIRE) -- Rush Enterprises, Inc. (Nasdaq:RUSHA) (Nasdaq:RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today reported the highest quarterly pre-tax income in the Company's history.

Income from continuing operations for the quarter was $16.0 million, or $0.41 per diluted share, compared with income from continuing operations of $8.0 million, or $0.21 per diluted share, in the quarter ended September 30, 2010.

"We believe these record results validate our efforts to build an organization with a diversified earnings base that is less dependent on the highly cyclical Class 8 truck sales market. For 15 years, we have worked to position the Company as the premier service solutions provider to the commercial vehicle industry – not simply a retailer of Class 8 trucks," said W. M. "Rusty" Rush, President and Chief Executive Officer of Rush Enterprises, Inc. "The Company's third quarter results are evidence that our efforts are paying off. These efforts include focusing on expanding our capabilities in less cyclical aftermarket operations, broadening the depth of our commercial vehicle product offerings and expanding our network of Rush Truck Centers."

The Company has a track record of growth through acquisitions and additions of dealerships within its current areas of responsibility. It now operates a contiguous network of 65 dealerships across the United States. We believe this geographic diversity will more effectively allow the Company to withstand regional economic downturns and expand service capabilities that better match the footprint of our customer base. "In the past 18 months, the Company has invested over $137 million in acquisitions, and we are scheduled to close two more acquisitions this year," said Rusty Rush.

"We encourage our customers to 'Expect More' because we are confident we have built a network of Rush Truck Centers that can provide our customers with any service they need related to their commercial vehicles and help create efficiencies in their businesses. We are a leader in providing customers with solutions to help them maintain their fleets and get new specialized vehicles into service. We want our customers to 'Expect More' because we know we can deliver more. Our long-term goal has been to provide our customers with more services so that we can minimize our dependence on the cyclical Class 8 truck sales market for operating profits, and we think we have made tremendous strides to accomplish that goal," Rusty Rush explained.