Business
Rush Enterprises, Inc. Reports Third Quarter 2021 Results, Announces $0.19 Per Share Dividend
Revenues of $1.27 billion, net income of $69.4 millionEarnings per diluted share of $1.20Absorption ratio 134.0%Strong financial results due to economic
About this update from Rush Enterprises, Inc.
[{"type":"text","content":"Revenues of $1.27 billion, net income of $69.4 millionEarnings per diluted share of $1.20Absorption ratio 134.0%Strong financial results due to economic recovery and expense managementSupply chain issues continue to impact new truck and aftermarket salesBoard declares cash dividend of $0.19 per share of Class A and Class B common stock SAN ANTONIO, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that for the third quarter ended September 30, 2021, the Company achieved revenues of $1.27 billion and net income of $69.4 million, or $1.20 per diluted share, compared with revenues of $1.18 billion and net income of $33.9 million, or $0.60 per diluted share, in the quarter ended September 30, 2020. Additionally, the Company’s Board of Directors declared a cash dividend of $0.19 per share of Class A and Class B common stock, to be paid on December 10, 2021, to all shareholders of record as of November 8, 2021. “We are incredibly proud of our team for achieving such impressive results in the third quarter,” said W.M. “Rusty” Rush, Chairman, Chief Executive Officer and President of Rush Enterprises, Inc. “We continued to see strong demand throughout the country for trucks and aftermarket products and services in the quarter, while our diligent approach to managing expenses allowed us to maintain strong profitability despite the challenges of the current business environment,” he added. “While demand for new trucks and aftermarket parts and services is healthy, our industry continues to be impacted by component supply chain issues that are directly affecting new truck production and the availability of aftermarket parts. However, we are well positioned to take advantage of every potential truck sales opportunity, and we believe the investments we have made in our technologies over the past few years will continue to help us mitigate the negative impact of parts supply constraints on our aftermarket business,” Rush said.“I would like to thank our employees for their impressive work and unwavering dedication to our customers, which helped us have such a strong quarter,” said Rush. “In recognition of their hard work, I am happy to announce that in mid-December, we will be giving a one-time discretionary $1,...