Rush Enterprises (RUSHA) investor relations material

Executive summary

• Q2 2026 revenue was $1.9 billion, with net income of $72.8 million and EPS of $0.91 per diluted share, nearly flat year-over-year.

• Board declared a three-for-two stock split and a 10.5% increase in quarterly dividend post-split.

• Completed acquisitions in Louisiana and Ontario, and announced a 50%-owned joint venture with MCT Companies to enter the refrigerated transportation market.

• Signs of early market recovery include improved freight rates, customer confidence, and stronger new truck order intake.

• Gross profit margin declined to 19.0% from 19.7% year-over-year due to a higher mix of lower-margin sales and competitive pricing.

Financial highlights

• Aftermarket operations accounted for 64% of total gross profit; aftermarket revenue grew 1.5% year-over-year to $645.7 million.

• Lease and rental revenue increased 1.9% year-over-year to $94.8 million.

• Absorption ratio was 130.8%, down from 135.5% a year ago.

• Sold 3,172 Class 8 trucks in the U.S., flat year-over-year, outperforming a declining market; U.S. Class 8 market share increased to 5.8%.

• Used commercial vehicle sales rose 4.3% to 1,788 units, with June being the strongest month of the year.

Outlook and guidance

• Management expects a considerably stronger second half of 2026 for Class 8 truck sales, supported by improving freight markets and customer confidence.

• Medium-duty sales anticipated to improve and align with 2025 levels as backlog and inventory support demand.

• Used truck demand expected to remain healthy due to higher new truck prices and upcoming emissions regulations.

• Aftermarket business projected to continue improving as fleet utilization rises and new truck deliveries increase.

• Lease and rental revenue expected to increase 2.5% in 2026, benefiting from fleet replacement cycles and potential manufacturer capacity constraints.