SAN ANTONIO, Texas – Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB), a prominent commercial vehicle dealership network in North America, announced a new stock repurchase program today. The company’s Board of Directors has authorized the repurchase of up to $150 million of its Class A and Class B common stock.
W.M. “Rusty” Rush, the Chairman, CEO, and President of Rush Enterprises, expressed confidence in the company’s financial health, citing strong free cash flow generation and solid financial results even amidst challenging industry conditions. According to InvestingPro data, the company maintains healthy financials with EBITDA of $706 million and a P/E ratio of 14.4x. InvestingPro analysis indicates the company has raised its dividend for seven consecutive years, demonstrating consistent shareholder returns. He emphasized that the company’s strategic investments have enhanced the quality of earnings and fortified the company’s financial performance.
The new repurchase program replaces the previous one, which was set to expire at the end of this year. Out of the prior program’s $150 million authorization, $77.5 million was utilized as of December 2, 2024. The company plans to execute the repurchases through open market transactions, privately negotiated deals, or other methods as permitted by federal securities laws.
Management at Rush Enterprises will decide the timing, quantity, and value of the repurchases based on various factors, including market conditions and stock price. The repurchase program is scheduled to expire on December 31, 2025, but can be suspended or discontinued at any point.
Rush Enterprises operates over 150 Rush Truck Centers across 23 states and Ontario, Canada. They provide comprehensive services to the commercial vehicle industry, including sales of new and used vehicles, aftermarket parts, service, body shop operations, and various customer solutions like financing, insurance, leasing, and rental services. For detailed insights into Rush Enterprises’ financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US equities with expert analysis and actionable intelligence.
The company also invests in vehicle technologies such as CNG fuel systems, telematics, and vehicle up-fitting. This announcement is based on a press release statement and reflects the company’s proactive approach to capital management. Investors are advised that the…
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