What to expect from Rush Enterprises’s (RUSHA) Q3 earnings
Commercial vehicle retailer Rush Enterprises (NASDAQ:RUSH.A) will be reporting results this Tuesday after market hours. Here’s what to look for.
Rush Enterprises met analysts’ revenue expectations last quarter, reporting revenues of $1.9 billion, down 1.6% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is Rush Enterprises a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Rush Enterprises’s revenue to grow 8.7% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Rush Enterprises rarely misses Wall Street’s revenue estimates.
Looking at Rush Enterprises’s peers in the industrial distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 18.9%, beating analysts’ expectations by 10.1%, and United Rentals reported revenues up 15.7%, topping estimates by 4.4%. Richardson Electronics’s stock price was unchanged after the resultswhile United Rentals was up 3.3%.
Read our full analysis of Richardson Electronics’s results here and United Rentals’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the industrial distributors stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.9% on average over the last month. Rush Enterprises is down 5.4% during the same time and is heading into earnings with an average analyst price target of $58.83 (compared to the current share price of $44.95).
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