Rush Enterprises announced Q1/15 net income was $16.8 million, up 40% from net income of $12.0 million in Q1/14. Rush said U.S. Class 8 retail sales were 56,736 units in Q1/15, up 25% over the same period last year. Rush’s Class 8 sales increased 52% over the same time period, significantly outpacing the industry and accounting for 7.2% of the U.S. Class 8 truck market.

Rush’s Class 4-7 medium-duty sales increased 37% over the first quarter of 2014, accounting for 5.6% of the total U.S. market and also significantly outpacing U.S. Class 4-7 truck sales in the first quarter, which increased by 12%. Rush said its strong medium-duty truck sales performance this quarter was driven by deliveries to several large leasing companies along with our continued ability to offer ready-to-roll equipment to vocational operators supporting infrastructure projects taking place throughout the country.

ACT Research forecasts U.S. retail sales for Class 8 vehicles to reach 267,000 units in 2015, a 19% increase over 2014. ACT Research also forecasts U.S. retail sales for Class 4-7 vehicles to reach 209,000 units in 2015, a 4% increase over 2014.

“We are extremely pleased with our strong financial performance this quarter despite a significant impact to Class 8 truck sales due to reduced activity in the energy sector. We have completed the rollout of our business operating system and continue to make progress on our strategic growth initiatives to expand our portfolio of aftermarket solutions,” said W.M. “Rusty” Rush, chairman, chief executive officer and president of Rush Enterprises.

“We saw a significant negative impact from reduced activity in the energy sector to Class 8 truck sales this quarter, but we were able to offset this decline with incremental sales to mid- and large-size over-the-road fleets whose businesses primarily serve consumer retail markets. Steady demand continued from vocational customers operating in the construction segment as well,” Rush said.

To view the full Rush Enterprises news release, click here.