Rush Enterprises announced Q2/17 revenues of $1.204 billion and net income of $22.0 million compared with revenues of $1.026 billion and net income of $10.8 million in the quarter ended June 30, 2016.

U.S. Class 8 retail sales were 48,771 units in the second quarter, down 8.2% over the same period last year, according to ACT Research. Rush’s Class 8 sales increased 29.3% as compared to the second quarter of 2016 and accounted for 6.9% of the U.S. Class 8 truck market.

ACT Research forecasts U.S. retail sales for Class 8 vehicles to be 186,100 units in 2017, a 5.5% decrease compared to 2016, but considerably higher than their original 2017 forecast of 154,000 units.

“Our Class 8 new truck sales in the second quarter reflect an improving energy sector, continued solid vocational demand from construction and refuse customers and continued demand for replacement trucks supporting general freight,” said W.M. “Rusty” Rush, chairman, chief executive officer and president of Rush Enterprises.

“The over-supply of used trucks available nationwide continues to present challenges to the market, but we believe values have begun to stabilize,” Rush said. “Our used truck inventory is well-positioned to support trade activity and new truck sales.”

“Due to increased activity from a wide variety of industries and overall economic improvement, we believe our Class 8 new truck sales in the second half of 2017 will remain strong,” Rush said.

Rush’s Class 4-7 medium-duty sales increased 10.1% from the second quarter of 2016, accounting for 4.9% of the total U.S. market. U.S. Class 4-7 retail sales were 62,618 units in the second quarter of 2017, up approximately 9.2% over the second quarter of 2016. ACT Research forecasts U.S. retail sales for Class 4-7 vehicles to reach 233,600 units in 2017, a 3.3% increase over 2016.

“Continued growth in the housing and construction sectors, improvement in the energy sector and general economic improvement across the country contributed to our strong financial performance this quarter,” Rush said. “We remained focused on our long-term growth goals, which include expansion of our all-makes parts business, advanced vehicle technologies, and alternative fuel solutions.”