Rush Enterprises Reports 2018 Revenue of $5.5B

Rush Enterprises, the operator of the largest network of commercial vehicle dealerships in North America, reported 2018 revenues of $5.5 billion and net income of $139.1 million compared with revenues of $4.7 billion and net income of $172.1 million for 2017.

Concurrently, the company’s board of directors declared a cash dividend of $0.12 per share of Class A and Class B common stock, to be paid on March 15, 2019, to all shareholders of record as of February 25, 2019.

“We are incredibly proud of our outstanding financial performance in 2018,” said W.M. “Rusty” Rush, chairman, president and CEO of Rush Enterprises. “We remain committed to executing our strategic initiatives, including our aftermarket growth initiatives, which continue to positively impact our results. In addition to our success in executing our strategic initiatives, the overall health of the economy, strong freight demand and continued activity in the markets we support also contributed to our success in 2018.”

Highlights from 2018 included:

  • Fourth quarter gross revenues of $1.5 billion, compared to gross revenues of $1.2 billion for Q4/2017
  • Fourth quarter net income of $47 million compared to $105.9 million for Q4/2017
  • 2018 earnings per diluted share of $3.45
  • Annual absorption ratio 122.4%
  • Aftermarket products and services accounting for 63.4% of total gross profits in 2018, with parts, service and collision center revenues reaching $1.7 billion, up 13.5% over 2017
  • Class 8 retail sales accounting for 5.7% of the total U.S. Class 8 market, compared to 6.6% in 2017
  • 14,666 Class 8 trucks sold in 2018, an increase of 12.1% compared to 2017

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