Rush posts record financial results amid improving economy

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Rush Enterprises, a company that sells Peterbilt commercial trucks, reported record financial results for the third quarter of 2014.

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James Aldridge

Web Editor- San Antonio Business Journal

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Rush Enterprises Inc. wrapped up another quarter of record revenues, net income, Class 8 new truck sales and market share growth during the third quarter of 2014, the company said Tuesday.

New Braunfels, Texas-based Rush (NASDAQ: RUSHA, RUSHB) reported net income of $23.5 million, or 57 cents per diluted share, on revenues of $1.24 billion for the quarter ended Sept. 30, 2014. This compares to net income of $15.2 million, or 37 cents per diluted share, on revenues of $913 million for the same period a year ago.

Chairman, President and CEO W.M. "Rusty" Rush attributed the record performance to "continued moderate freight growth and economic improvement."

Gross revenues rose 35.9 percent between the two quarters. The company sold 4,384 new heavy-duty trucks, 2,587 new medium-duty commercial vehicles, 377 new light-duty vehicles and 1,956 used commercial vehicles in the third quarter, compared to 2,605 new heavy-duty trucks, 2,421 new medium-duty commercial vehicles, 515 new light-duty vehicles and 1,635 used vehicles during the same quarter a year ago.

Aftermarket service revenues, which include maintenance and the sale of parts, totaled $340.6 million in the third quarter, compared to $257.5 million in the same period a year ago.

Rush owns and operates the largest network of commercial vehicles dealerships in the United States. Its Rush Truck Centers sell Peterbilt, International, Hino, Isuzu, Ford, IC Bus and Blue Bird.

James Aldridge oversees online content of the newspaper; edits and reports stories for the online edition.