First Read Rush Enterprises Inc: Q2 mostly in-line; beat below the line

研报英文原文证据摘录

First Read Rush Enterprises Inc: Q2 mostly in-line; beat below the line

Global Research

29 July 2026ab

First Read

EquitiesRush Enterprises Inc

Q2 mostly in-line; beat below the line United States

Land Transportation Equipment

12-month rating Neutral

How would we expect investors to react?

We think investors should be satisfied with Rush's Q2 results. CV Sales revenue and Parts 12m price target US$78.00

& Service revenue were both in-line with consensus, and new HDT volumes were slightly

ahead of consensus. Margins were a bit light in both segments, driving a slight miss in

Price (28 Jul 2026) US$78.82

gross profit, but this was offset by better than expected SG&A leverage, and operating

income was in-line with consensus. Lower than expected interest and tax expenses RIC: RUSHA.O BBG: RUSHA US

drove the $0.05 (6%) beat. Rush continues to see positive momentum supported by Trading data and key metrics

improved customer profitability, and believes the improving demand in recent months

52-wk range US$79.66-46.68

has not materially been driven by prebuying ahead of 2027 emissions regulations. Now,

Market cap. US$6.05b

with fleet owners having more policy certainty with the EPA's proposed rule change, and

Shares o/s 60.5m (COM)

the ability to buy trucks next year with current engine tech at a more manageable price,

management believes the setup for the truck market has improved further. Aftermarket Free float 99%

demand remained soft in Q2, but this was fairly well understood going in, and Rush Avg. daily volume ('000) 500

noted improving demand trends there as well. We think the shape of the cycle through Avg. daily value (m) US$35.9

2027 will continue to be a key debate for the stock, as well as timing for a more Common s/h equity (12/26E) US$2.40b