Rush Enterprises (RUSHA) Reports In-Line Q2 EPS

Rush Enterprises (NASDAQ: RUSHA) reported Q2 EPS of $0.27, in-line with the analyst estimate of $0.27. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.1 billion.

“As expected, continued softness in the energy sector, a choppy freight environment, excess Class 8 fleet vehicle capacity, and declining used truck values plagued the industry and negatively impacted our Class 8 new and used truck sales and parts and service revenues in the second quarter,” said W. M. “Rusty” Rush, Chairman, President and Chief Executive Officer of Rush Enterprises, Inc.

“To help offset the effect of these challenging market conditions, we implemented significant and broad-reaching expense reductions throughout the first half of this year, including the consolidation of truck center locations in eight states that were operating in close proximity to other dealerships,” Rush said. “We are beginning to see the benefit from these actions, but do not expect to realize the full results of our expense management efforts until later this year.”

“I am very proud of all of our employees, particularly our operators in the field, for their efforts to maintain consistent customer service while working through store level transitions and executing our expense reduction plans. Our financial performance this quarter is evidence of our ability to effectively manage expenses in a challenging market environment,” he added.

For earnings history and earnings-related data on Rush Enterprises (RUSHA) click here.

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