Rush Enterprises (RUSHA) investor relations material

Executive summary

• Generated $1.68 billion in Q1 2026 revenue with net income of $61.5 million, or $0.77 per diluted share, compared to $1.85 billion revenue and $60.3 million net income (EPS $0.73) in Q1 2025.

• Declared a quarterly cash dividend of $0.19 per share for Class A and B shares, payable June 10, 2026.

• Diversified business model and focus on aftermarket, leasing, and rental operations supported financial performance amid industry downturn.

• Navigated a challenging commercial vehicle market, with industry-wide new truck sales at historic lows.

• Signed agreement to acquire six Peterbilt dealerships in Southern Louisiana and Mississippi, expanding market presence.

Financial highlights

• Gross profit for Q1 2026 was $343.8 million, down from $357.8 million in Q1 2025.

• Aftermarket revenue reached $627.2 million, up 1.3% year-over-year, and accounted for 66.1% of gross profit.

• Leasing and rental revenue increased 2.2% to $92.3 million.

• Absorption ratio was 126.9%, compared to 128.6% in Q1 2025.

• SG&A expense increased only 2% sequentially, with G&A down 2.5% year-over-year despite inflation.

Outlook and guidance

• Management expects gradual improvement in commercial vehicle sales starting Q2, with a more meaningful recovery in the second half of 2026.

• Anticipates sequential improvement in both heavy-duty and medium-duty truck sales, with Class 8 potentially up 15% in Q2.

• Aftermarket and parts/service demand expected to build as fleet utilization rises and deferred maintenance is addressed.

• Order intake remains strong, driven by improving freight conditions and anticipation of 2027 emissions regulations.

• ACT Research forecasts U.S. Class 8 truck sales to increase 5.7% in 2026; medium-duty sales expected to be flat.