Rush Enterprises, Inc. · NASDAQ:RUSHA
Rush Enterprises — Investor Presentation (November 2024)
44 slides from Rush Enterprises's investor presentation, November 2024
Slide 1: Rush Enterprises – November 2024
IN ENTERPRISES
Slide 2: Company Overview
COMPANY OVERVIEW • Full-service solutions provider to commercial vehicle industry • 7,965 dedicated employees • $7.9B in revenue in 2023 • 39,686 vehicles sold in 2023 • 2023 market share – Class 4-7: 5.1% U.S., 2.9% Canada – Class 8: 6.2% U.S., 2.0% Canada • 27,866 vehicles sold through Q3 2024
Slide 3: Company History
COMPANY HISTORY • 1965: Founded by W. Marvin Rush with single GMC dealership • 1967: First Peterbilt fleet sale/dealership opens • 1992: Introduced Rush Enterprises coin, core values • 1994: First Peterbilt acquisitions • 1996: Initial Public Offering • 2004: Second Public Offering • 2006: Held firs
Slide 4: The Premier Full-Service Solutions Provider
THE PREMIER FULL-SERVICE SOLUTIONS PROVIDER Rush Truck Centers The House of Trucks Rush Refuse Systems Cummins Clean Fuel Technologies Rush Crane Systems Custom Vehicle Solutions Rush Towing Systems Perfection Truck Parts & Equipment Rush Bus Centers Chrome Country Rush Truck Leasing World Wide Tire
Slide 5: Culture and Values, Customer Solutions, Premium Quality, Network Reach
CULTURE AND VALUES CUSTOMER SOLUTIONS PREMIUM QUALITY NETWORK REACH AND SCALE
Slide 6: Rush Truck Centers
RUSH TRUCK CENTERS • Largest commercial vehicle dealer network in North America • 141 locations in 23 states, 13 locations in Canada • Class 3-8 commercial vehicle sales, full range of aftermarket solutions • Largest dealer group for Peterbilt, Navistar, Hino, Isuzu, Dennis Eagle, Blue Arc, growing
Slide 7: Rush Truck Centers Network
RUSH TRUCK CENTERS NETWORK wa Ss a INTERNATIONAL AOR
Slide 8: Solutions Network
SOLUTIONS NETWORK • Capabilities for all makes and models • Aftermarket parts – $320 million parts inventory – Genuine OEM and all-makes parts, including proprietary Rig Tough and Premium Power powertrain parts • Service and body shop – 2,678 service bays – 2,426 technicians in the U.S. – 167 techni
Slide 9: An Unrivaled Portfolio of Aftermarket Solutions
AN UNRIVALED PORTFOLIO OF AFTERMARKET SOLUTIONS SINGLE SOURCE SOLUTIONS vv v v v v ALL-MAKES PARTS MOBILE SERVICE AND SAME-DAY COLLISION AND BODY VEHICLE MODIFICATION AND SERVICE EXPERTISE EMBEDDED TECHNICIANS XPRESS SERVICES REPAIR SERVICES AND UPFITTING EXPERIENCE CUSTOMER RUSHCARE vv v v v vv DED
Slide 10: All-Makes Parts Solutions
ALL-MAKES PARTS SOLUTIONS QUALITY PRODUCTS BACKED BY INDUSTRY-LEADING BRANDS. $320 million in genuine Proprietary Rig Tough truck parts All-makes parts and service OEM and aftermarket parts and accessories and Rush Truck specials with great savings, and for all makes and models. Centers Premium Powe
Slide 11: All-Makes Service Expertise
ALL-MAKES SERVICE EXPERTISE CERTIFIED TECHNICIANS. COMPLETE MAINTENANCE SOLUTIONS. v v v State-of-the-art repair facilities Qualified to work on heavy-, Preventive maintenance, staffed by factory-trained, medium- and light-duty vehicles warranty, complete engine ASE-certified technicians. of all mak
Slide 12: Mobile Service and Embedded Technicians
MOBILE SERVICE AND EMBEDDED TECHNICIANS MOBILE AND ON-SITE TECHNICIAN SUPPORT. v v v Nationwide network – when Factory-trained technicians 800+ mobile service trucks and and where customers need us. qualified to work on all makes embedded technicians across and models – on the road or at the United
Slide 13: Same-Day Xpress Service
SAME-DAY XPRESS SERVICE DIAGNOSIS, REPAIR ESTIMATES AND PM SERVICE TO FIT YOUR SCHEDULE. v v v Faster diagnosis and Same-day preventive Same-day service for brake repair estimate process to maintenance with extended inspection, HVAC, DPF and minimize downtime. hours and weekend service. DOC cleaning
Slide 14: Collision and Body Repair Services
COLLISION AND BODY REPAIR SERVICES TRUCK COLLISION AND BODY REPAIR SERVICES. v v v 33 collision centers with highly State-of-the-art paint booths and Certified and expert Axalta skilled, certified technicians. frame straightening equipment. Commercial Refinishers.
Slide 15: Vehicle Modification and Upfitting
VEHICLE MODIFICATION AND UPFITTING VEHICLE MODIFICATION AND UPFITTING v v v Vehicle upfitting and component Natural gas fuel system Highly trained staff of engineers, installation services for all makes. installations. designers and craftsmen.
Slide 16: The RushCare Customer Experience
THE RUSHCARE CUSTOMER EXPERIENCE WE APPROACH CUSTOMER SERVICE DIFFERENTLY. v v v Our commitment to providing the Supported by industry-leading Dedicated service concierge highest level of service and an solutions designed to keep team to proactively manage the exceptional customer experience. custom
Slide 17: Dedicated Service Concierge Team
DEDICATED SERVICE CONCIERGE TEAM SERVICE EXPERTISE AND SUPPORT LIKE NO OTHER. v v v Specialized team to coordinate, First contact point for technical Escalation process for hard-to- monitor and expedite vehicle support, service scheduling, diagnose repairs and hard-to- repairs and preventive and iss
Slide 18: Rapid Parts Call Centers
RAPID PARTS CALL CENTERS PARTS PROFESSIONALS STANDING BY TO TAKE YOUR CALL. v v v Nationwide network to help Backed by extensive genuine Knowledgeable agents with OEM you find the parts you need – OEM and all-makes part and parts experience. wherever you are. accessories inventory.
Slide 19: RushCare Complete
RUSHCARE COMPLETE TOTAL SERVICE MANAGEMENT FOR YOUR FLEET. v v v All-inclusive service solution Service Concierge, on-demand Included with every that coordinates, monitors communication, online parts new truck purchase. and expedites vehicle service ordering, roadside assistance and repairs. and sam
Slide 20: Rush Truck Centers Maintenance Plans
RUSH TRUCK CENTERS MAINTENANCE PLANS PLANNED MAINTENANCE MADE SIMPLE.TM v v v Three customizable plan options Available for customers who Factory-recommended for all makes and models of new purchased vehicles from maintenance and repairs and used trucks – DIY, PM-Only Rush Truck Centers or for their
Slide 21: State-of-the-Art Facilities and Tooling
STATE-OF-THE-ART FACILITIES AND TOOLING HIGHEST QUALITY EQUIPMENT AND SERVICES. We offer more than 2,700 Driver amenities include pick up Certified diagnostics and repair state-of-the-art service bays and delivery of your vehicle, a facilities for major component supported by 2,400 factory- relaxing
Slide 22: Parts Connect Online Parts Ordering
PARTS CONNECT ONLINE PARTS ORDERING ONLINE PARTS ORDERING. ALL MAKES, ALL MODELS. v v v Extensive inventory of genuine Millions of cross-references Search inventory locally or OEM and all-makes parts from to help you quickly find the nationally and select pickup, industry-leading brands. part you ne
Slide 23: Service Connect Communication Portal
SERVICE CONNECT COMMUNICATION PORTAL 24/7 ONLINE SERVICE COMMUNICATION SYSTEM. v v v Visibility to real-time repair Two-way communication Anywhere, anytime scheduling status, service history, recalls with service experts when and approval. and open campaigns. you need answers.
Slide 24: Vehicle Recall and Campaign Management
VEHICLE RECALL AND CAMPAIGN MANAGEMENT PROACTIVE RECALL AND CAMPAIGN MANAGEMENT. v v v Review active campaigns Schedule repairs during Custom reporting to keep and recalls. preventive maintenance you informed throughout the intervals to reduce downtime. campaign progress.
Slide 25: Telematics – Connected Fleet Solutions
TELEMATICS – CONNECTED FLEET SOLUTIONS FLEET TECHNOLOGY SOLUTIONS TO INCREASE PRODUCTIVITY. v v v Customizable dashboards to Enhanced safety technology to Tracking and reporting tools to create the reports you need – monitor driver habits and provide simplify regulatory compliance. optimized for web
Slide 26: Alternative Power Technologies and Support
ALTERNATIVE POWER TECHNOLOGIES AND SUPPORT SERVICE, SUPPORT AND CONSULTING FOR CURRENT AND EMERGING TECHNOLOGIES. v v Cummins Clean Fuel Technologies Rush Truck Centers offers a Dedicated service bays and offers a full line of CNG fuel consultative approach including certified technicians for natura
Slide 27: Cummins Clean Fuel Technologies
CUMMINS CLEAN FUEL TECHNOLOGIES • Joint venture between Rush Enterprises and Cummins • Combines strength of the industry’s first complete CNG fuel delivery system with expertise of leader in powertrain solutions • Creates extensive CNG/RNG support network in North America – 250+ locations across the
Slide 28: Chrome Country
CHROME COUNTRY • More than 100,000 chrome and truck accessories • Custom parts available • Installation by Rush Truck Center – Nashville • Visit Chrome Country in Nashville or at www.chromecountry.com
Slide 29: Vehicle Franchises
VEHICLE FRANCHISES • Peterbilt, Class 6-8 – 67 locations, 12 states • International, Class 5-8 – 57 locations, 12 states, 80% ownership of 13 locations in Canada • Ford, Class 3-7 – 10 locations, 8 states • Hino, Class 5-7 – 34 locations, 9 states • Isuzu, Class 4-5 – 29 locations, 14 states • Blue
Slide 30: Heavy-Duty Trucks
HEAVY-DUTY TRUCKS • Largest Peterbilt and International dealer group • Largest inventory in North America • Peterbilt and International stock truck programs • 17,457 Class 8 trucks sold in 2023
Slide 31: Medium-Duty Trucks
MEDIUM-DUTY TRUCKS • Largest Peterbilt, International, Hino and Isuzu dealer group • Growing with Ford • Sales, parts and service integrated into Class 8 dealerships • Dedicated sales staff and support • Breadth of product offerings provides customer solutions • Ready-to-Roll® bodied-up inventory na
Slide 32: Specialty Markets
SPECIALTY MARKETS • Rush Refuse Systems – Peterbilt, McNeilus • Rush Crane Systems – Peterbilt, National, Manitex • Rush Towing Systems – Jerr-Dan wreckers and carriers – Texas, Colorado, New Mexico and Oklahoma • Rush Bus Centers – IC Bus in Utah, Idaho, Ohio and Georgia – Blue Bird and Collins in
Slide 33: Alternative Power Solutions Expertise
ALTERNATIVE POWER SOLUTIONS EXPERTISE • Rush Enterprises sales – 16,500 units since 2005 • Knowledgeable sales specialists • Alternative fuel consultants – Experts in the field – Assistance for grants and incentive programs – Regulatory and ZEV consulting – Leader in Electric Vehicles sales – Cummin
Slide 34: Sales Capabilities
SALES CAPABILITIES • 398 truck sales professionals • Strong OEM and component supplier relationships • Broad customer base – single owner to large fleets • Broad market coverage: On-highway, ready mix, construction, refuse, crane, pumps, oilfield, service, beverage, towing, food service, landscaping
Slide 35: Class 8 Customers
CLASS 8 CUSTOMERS • Rush Enterprises 2023 U.S. Class 8 market share – 6.2% • Strong vocational component Large Fleets • Large fleets consolidating 30-35% • Private mid-size fleets remain viable • Independent owner-operator now variable component of truckload carrier Vocational 6.2% Mid-Size Fleets 4
Slide 36: Class 4-7 Customers
CLASS 4-7 CUSTOMERS • Rush Enterprises 2023 U.S. Class 4-7 market share – 5.1% • Vocational and specialty markets Towing/ Food/ Recovery • Ready-to-Roll® inventory Beverage 10% 15% • National fleet accounts Government/ Leasing/ • Market tied closely to general economy Municipal Rental 5.1% 10% 20% P
Slide 37: Rush Enterprises Annual Truck Sales
RUSH ENTERPRISES ANNUAL TRUCK SALES 50 40 Units (Thousands) 15.0 17.5 15.5 30 14.6 16.8 10.7 11.1 20 12.9 14.4 14.5 11.3 10.5 11.0 13.3 10 2.1 2.2 1.1 1.7 2.0 1.8 2.1 8.0 7.7 7.4 7.5 7.1 7.1 7.0 0 2018 2019 2020 2021 2022 2023 2024E Used Light-duty Medium-duty Class 8 37
Slide 38: Rush Truck Leasing
RUSH TRUCK LEASING • Full-service leasing and rental LEASING AND RENTAL REVENUE • PacLease and Idealease franchises $400 $350 $353 • 66 locations in 22 states $350 $322 • 10,000+ units in truck fleet, including cranes $300 $248 $236 $247 • 2,200 units under contract fleet maintenance $250 Millions •
Slide 39: Financing and Insurance
FINANCING AND INSURANCE • Financing – Third-party financing – PACCAR Financial, BMO Harris, Navistar Capital, Wells Fargo • Rush Truck Insurance Services – Property, casualty insurance – Sentry, Lancer – 4 locations, 4 states
Slide 40: Perfection Truck Parts & Equipment
PERFECTION TRUCK PARTS & EQUIPMENT • Heavy- and light-duty equipment installation • Work-ready trucks • Crane installations • Custom orders • Two locations in Oklahoma City
Slide 41: World Wide Tires
WORLD WIDE TIRES • Offers commercial tires to the wholesale markets • Heavy-duty truck, passenger car, light-duty truck and ATV tires • Ultra-high-performance and specialty tires
Slide 42: Strategic Growth Initiatives
STRATEGIC GROWTH INITIATIVES • 2027 financial goals – $10B in annual revenue – 6% return on sales • Growth goals and opportunities – Grow aftermarket parts and service revenue to $3.5B – Increase U.S. Class 8 market share to 7.5% – Increase U.S. Class 4-7 market share to 6.5% – Maintain RTL return o
Slide 43: Company Highlights
COMPANY HIGHLIGHTS • Premier solutions provider to the commercial vehicle industry • Largest commercial dealer network in North America • Experienced and dedicated management • Diverse commercial equipment/market segment expertise • Proven history of acquisition success • Well-defined strategy for f
Slide 44: Rush Enterprises – November 2024
IN ENTERPRISES
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