October 23, 2013
Rush Enterprises, Inc. posted a third quarter net income of $15.2 million Wednesday, up from $14.9 million the year before.
The company’s aftermarket services continued to surge, accounting for more than 64 percent of the company’s quarterly total gross profits.
“On-going demand for maintenance and repair of aged vehicles combined with our focus on aftermarket solutions continued to drive our strong parts, service and body shop revenues and absorption performance,” says W.M. “Rusty” Rush, Chairman, CEO and President of Rush Enterprises, Inc. “Our primary service goal is to always help keep our customers up and running. We remain committed to expanding our portfolio of parts and service solutions, investing in technology to improve diagnostics and customer communication and replicating best practices and exceptional customer care across our network.”
Third quarter parts, service and body shop revenues increased by 22.2 percent compared to the third quarter of 2012. Rush added he expects parts, service and body shop revenues to remain strong throughout the remainder of the year and into 2014.
The company also opened a new International parts and service facility in Springfield, Ohio this quarter and will open a new full service Peterbilt dealership and Paclease commercial vehicle leasing and rental operation in Corpus Christi, Texas in December.
Parts, service and body shop sales revenue was $257.5 million in the third quarter of 2013, compared to $210.7 million in the third quarter of 2012. The company delivered 2,605 new heavy-duty trucks, 2,421 new medium-duty commercial vehicles, 515 new light-duty commercial vehicles and 1,635 used commercial vehicles during the third quarter of 2013, compared to 2,272 new heavy-duty trucks, 1,650 new medium-duty commercial vehicles, 363 new light-duty commercial vehicles and 1,211 used commercial vehicles during the third quarter of 2012.