Rush Enterprises Inc. reported third quarter net income of $1.1 million on revenues of $195.2 million, compared to $2.1 million on $226.9 million for the same period last year.
Rush is the largest Peterbilt dealer in the country, with dealerships in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. Its heavy duty truck segment recorded revenues of $154.8 million in the third quarter, compared to $190.3 million for the same period last year. The company delivered 970 new trucks and 480 used trucks during the third quarter, compared to 1,515 new trucks and 528 used trucks a year ago. Parts, service and body shop sales were $49 million, up 11.1% from a year ago.
Rush’s John Deere construction equipment dealerships in Texas and Michigan had revenues of $28.4 million compared to $27.4 million in the third quarter of 2000. Parts and service sales increased 6.8%, to $6.3 million. Rental sales were $2.6 million, down 57.7%.
Chairman and CEO Marvin Rush said they expect an “increasing number of attractive acquisition opportunities” in the continued soft truck market. “Our company is positioned to take advantage of any such opportunities that may arise,” he said.
Rush is the largest Peterbilt dealer in the country, with dealerships in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. Its heavy duty truck segment recorded revenues of $154.8 million in the third quarter, compared to $190.3 million for the same period last year. The company delivered 970 new trucks and 480 used trucks during the third quarter, compared to 1,515 new trucks and 528 used trucks a year ago. Parts, service and body shop sales were $49 million, up 11.1% from a year ago.
Rush’s John Deere construction equipment dealerships in Texas and Michigan had revenues of $28.4 million compared to $27.4 million in the third quarter of 2000. Parts and service sales increased 6.8%, to $6.3 million. Rental sales were $2.6 million, down 57.7%.
Chairman and CEO Marvin Rush said they expect an “increasing number of attractive acquisition opportunities” in the continued soft truck market. “Our company is positioned to take advantage of any such opportunities that may arise,” he said.
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