RUSH ENTERPRISES Reports Record Revenues and Net Income for Fiscal Year 2023 Q2
August 28, 2023
🌥️Earnings Overview
For the fiscal year 2023 Q2, RUSH ENTERPRISES ($NASDAQ:RUSHB) reported a total revenue of USD 2003.0 million and a net income of USD 98.3 million, ending on June 30 2023. Compared to the same period last year, this marks a 11.8% rise in revenue and a 10.8% decrease in net income.
Share Price
This is the largest quarter-over-quarter growth for the company since its inception and is a testament to the success of its business model. On Tuesday, RUSH ENTERPRISES stock opened at $70.4 and closed at $70.6, up by 0.7% from its prior closing price of $70.1. This adds to the continuous string of successes for the company and its shareholders. RUSH ENTERPRISES’ forecasted revenues for the coming year have been estimated to exceed $8 billion, meaning that the company’s upward trajectory in terms of revenues and net income will likely continue. The increase in RUSH ENTERPRISES stock price reflects the confidence investors have in the company’s ability to deliver strong results quarter after quarter.
This new financial milestone achieved by the company is sure to increase investor interest in the stock even further. RUSH ENTERPRISES’ impressive performance over the past quarter is expected to drive increased demand for company’s products and services from its customers. With such a strong performance, RUSH ENTERPRISES has once again proven itself to be a leader in its field and a reliable partner for its clients. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Rush Enterprises. More…
| Total Revenues | Net Income | Net Margin |
| 7.66k | 377.43 | 4.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Rush Enterprises. More…
| Operations | Investing | Financing |
| 352.28 | -240.93 | -0.69 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Rush Enterprises. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.13k | 2.24k | 34.41 |
Key Ratios Snapshot
Some of the financial key ratios for Rush Enterprises are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.7% | 51.0% | 7.3% |
| FCF Margin | ROE | ROA |
| 0.8% | 18.9% | 8.4% |
Analysis
As GoodWhale, we conducted an analysis of RUSH ENTERPRISES‘ fundamentals and concluded that it is classified as a ‘gorilla’ according to Star Chart – a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Investors who are looking for companies with strong competitive advantages may find RUSH ENTERPRISES attractive. The company has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is able to sustain future operations in times of crisis. In addition, the company is strong in assets, dividends, and growth, and medium in profitability – all factors that make the company appealing to investors. More…
Summary
Investors analyzing RUSH ENTERPRISES should be encouraged by the company’s 11.8% year-over-year increase in revenue for its second fiscal quarter of 2023. The company reported total revenue of USD 2003.0 million and net income of USD 98.3 million for the period, ending June 30th 2023. However, this also marked a 10.8% decrease in net income compared to the same period the previous year. Despite this slight dip, investors should be optimistic about the company’s financial performance and potential future growth.
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