Rush Enterprises Earnings: Here’s Why the Stock is Falling Now
Rush Enterprises, Inc. (NASDAQ:RUSHA) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.32%.
Rush Enterprises, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 15% to $0.34 in the quarter versus EPS of $0.40 in the year-earlier quarter.
Revenue: Decreased 2.64% to $756.79 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rush Enterprises, Inc. reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.33. It missed the average revenue estimate of $758.1 million.
Quoting Management: “The Company’s financial performance remained strong this quarter despite expected sluggishness in energy sector activity and a decrease in Class 8 new truck retail sales. Geographic expansion of our dealership network, breadth of product offerings and a sustained focus on aftermarket solutions continue to positively impact the company’s financial performance,” said W. M. “Rusty” Rush, Chief Executive Officer and President of Rush Enterprises, Inc. “I am grateful to our employees for their contributions to our success this quarter.”
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