Heavy-duty truck dealership network Rush Enterprises (NASDAQ: RUSHA) reported lower sales and earnings in the third quarter but far exceeded analyst estimates.
Earnings per share decreased 14.29% over the past year to $0.60. Analysts expected $0.32 per share.
Revenue of $1,18 billion declined by 26.3% from the same period last year. Analysts estimated revenue of $1.08 billion
With 120 locations, Rush Enterprises is the only publicly traded, standalone commercial truck dealer in North America. It sells 5.6% of new Class 8 trucks and also sells Class 4-7 medium-duty trucks and used models. Rush’s Class 8 Its customer base consists of large fleets (32%), mid-size fleets (16%), vocational customers (40%), and owner-operators (12%).
Aftermarket parts and service account for approximately 30% of revenue and 65% of gross profit.
Rush shares traded up 6.35% after hours Wednesday at $38.17.