Rush Enterprises, Inc. Reports Fourth Quarter and Year-End 2023 Results, Announces $0.17 Per Share Dividend

SAN ANTONIO, Texas, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that for the year ended December 31, 2023, the Company achieved revenues of $7.9 billion and net income of $347.1 million, or $4.15 per diluted share, compared with revenues of $7.1 billion and net income of $391.4 million, or $4.57 per diluted share, for the year ended December 31, 2022. In 2022, Cummins Inc. and the Company closed on Cummins’ acquisition of a 50% equity interest in Momentum Fuel Technologies that resulted in a $12.5 million pre-tax gain, and the Company closed on its acquisition of an additional 30% interest in Rush Truck Centres of Canada Limited, which resulted in a $9.8 million gain. Excluding the one-time gains related to those transactions, the Company’s adjusted net income for the year ended December 31, 2022, was $372.0 million, or $4.34 per diluted share. Additionally, the Company’s Board of Directors declared a cash dividend of $0.17 per share of Class A and Class B common stock, to be paid on March 18, 2024, to all shareholders of record as of February 27, 2024.