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Rush Enterprises Inc   (RUSHA)
Other Ticker:  
 
    Sector  Retail    Industry Automotive Aftermarket
   Industry Automotive Aftermarket
   Sector  Retail
 


 
 RUSHA $52.0800 $0.3600 0.70%

 Volume (M): 309   Open : 51.93    52 Wk Avg :  48.77

 
 RUSHA $52.0800 $0.3600 0.70%

 Volume (M): 309   Open : 51.93    52 Wk Avg :  48.77




RUSHA Today's High: $52.615 RUSHA Shares One Week Perf: 2.06 %
RUSHA Today's Low: $ 51.74 RUSHA Shares 30 Day Performance: 10.71 %
Number of RUSHA Shares Traded (M): 309 RUSHA Share Price 52 Wk High: $ 69.45
Value of RUSHA's Shares Traded (M$): $ 16,082 RUSHA Share Price 52 Wk Avg: $48.77
Share Price at the Open: $51.93 RUSHA's Share Price 52 Wk Low: $34.68



  News about Rush Enterprises Inc's Stock Splits and Dividends

Rush Enterprises, Inc. Overcomes Industry Challenges, Reports Solid Financial Performance for 2023

SAN ANTONIO, Texas - Rush Enterprises, Inc., the largest network of commercial vehicle dealerships in North America, announced its financial results for the year ended December 31, 2023. Despite facing challenges in the trucking industry, Rush Enterprises managed to generate total revenues of $7.9 billion and a net income of $347.1 million, or $4.15 per diluted share. However, these numbers showed a decline compared to the previous year's results.
In 2022, the company closed on a significant acquisition and partnership with Cummins Inc., which had a favorable impact on its financial performance. With Cummins acquiring a 50% equity interest in Momentum Fuel Technologies, Rush Enterprises gained a pre-tax gain of $12.5 million. Additionally, the company acquired an additional 30% interest in Rush Truck Centres of Canada Limited, resulting in a gain of $9.8 million. When excluding these one-time gains, the adjusted net income for the year ended December 31, 2022, was $372.0 million, or $4.34 per diluted share.
While the revenue and net income figures for 2023 showed a slight decline from the previous year, it's important to note that the trucking industry faced numerous challenges during this period. The ongoing semiconductor shortage, rising fuel costs, and global supply chain disruptions all had a significant impact on the industry. Despite these obstacles, Rush Enterprises managed to maintain stable financials, reflecting the company's resilience and adaptability.

Driving Towards Higher Value: Rush Enterprises Inc. Launches Stock Repurchase Program, Fueling Shareholder Optimism



In a recent press release, Rush Enterprises, Inc. (NASDAQ: RUSHA and RUSHB) revealed its adoption of a stock repurchase program, allowing the company to buy back its own shares. This bold move comes with the repurchase of 1,500,000 shares of Class B Common Stock for an aggregate amount of $65.3 million from W.M. Rusty Rush, the Chairman of the Board, Chief Executive Officer, and President of Rush Enterprises. These strategic actions have sparked curiosity among investors and industry observers, prompting an analysis of their potential impact on the company's overall share value.
Facts Unveiled:
Rush Enterprises' Board of Directors authorized a new stock repurchase program, enabling the company to repurchase up to $150 million worth of its Class A Common Stock and/or Class B Common Stock. Concurrently, the company repurchased 1,500,000 shares of Class B Common Stock from its Chairman, Rusty Rush, for $65.3 million. This transaction was financed using the company's cash reserves.





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