With a combined revenue of $21 trillion and $2.1 trillion in profits, the 2026 Fortune 500 is the definitive list of America's largest companies.

Fortune 500

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

Industries included in the sector are automotive retail, general merchandisers, internet retail, and specialty retail.

Fortune Sector Leaders: Retailing

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This year’s Fortune 500 marks the 68th running of the list.

This year’s Fortune 500 marks the 67th running of the list.

This year's Fortune 500 marks the 66th running of the list.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 64th running of the list.

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This year's Fortune 500 marks the 62nd running of the list.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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Rush Enterprises operates as an integrated retailer of commercial vehicles and related services via its subsidiaries in the U.S. and Canada. Its Rush Truck Centers are a network of commercial dealerships, primarily selling vehicles manufactured by companies including Peterbilt, International, Ford, Blue Bird, and Battle Motors. The company also offers vehicle service and repair, financing, leasing, rental services, and car insurance.

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Q4 2024

Rush Enterprises (RUSHB): Company Profile, Stock Price, News, Rankings

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Rush Enterprises

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Good day and thank you for standing by. Welcome to the Rush Enterprises Q2 Earnings Release Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the call, you will need to press 11 on your telephone.

You will then hear an automated message advising your hand to raise. To withdraw your question, please press 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Rusty Rush, CEO. Please go ahead.

Vice President and Controller and Michael Goldstone, Senior VP, General Counsel and Corporate Secretary. I'll turn it over to Steve for a few comments.

Certain statements we will make today are considered forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Because these statements include risks and uncertainties, our actual results may differ materially from those expressed or implied by such forward looking statements. Important factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, those discussed in our annual report on Form 10 ks for the year ended 12/31/2024, and in our other filings with the Securities and Exchange Commission.

As indicated in our news release, we achieved second quarter revenues of $1,900,000,000 and net income of $72,400,000 or $0.90 per diluted share. I am pleased to announce that the Board of Records approved a $0.19 per share cash dividend, a 1% increase over our prior quarterly dividend and our ninth increase since announcing our intent to begin paying a quarterly cash dividend in July 2018. Market conditions remain difficult in the second quarter as the industry continues to face a freight recession that has persisted for more than two years and continues to face uncertainty with respect to trade policies and engine emissions regulations. As a result of these factors, many of our customers are delaying vehicle acquisition and maintenance decisions. However, despite these many challenges, our employees remain focused on the operational discipline and customer service in the quarter, which helped us deliver solid results.

So I want to thank them for their hard work and dedication. Our aftermarket operations accounted for approximately 63% of our total gross profit in the second quarter, with parts, service and collision center revenues reaching $636,300,000 an increase of 1.4% compared to the 2020. And our absorption ratio was 135.5%. In the second quarter, aftermarket revenues reached their highest level in the past twelve months, and we saw sequential growth from owner operators and small fleets, which we hope and believe may be early indicators of improving demand. Technician turnover reached a twelve month low and we expanded our aftermarket sales force, further strengthening our ability to support our customers.

Looking ahead, we expect stable aftermarket demand in the third quarter, with potential for modest sequential growth. With respect to truck sales, we sold 3,178 new Class eight trucks in The U. S. During the second quarter, accounting for 5.4% of the total U. S.

Market. While this represents a 20% year over year decrease, it is important to note that it is primarily due to the timing of several large fleet deliveries that occurred in the second quarter of last year, which made for a difficult year over year comparison. In Canada, Class A sales totaled 81 units, representing a 1.2 of the market. Although demand from large over the road fleets remains weak, we achieved strong sales in the Class eight vocational market, highlighting the strength of our diversified customer base. We expect vocational demand to remain solid for the remainder of the year.

However, due to ongoing uncertainty around trade policy and engine emissions regulations, new Class eight truck sales may decline sequentially in the third quarter, and the market outlook beyond the third quarter is difficult to project at this point. In the medium duty market, we delivered 3,626 new Class four-seven commercial vehicles in The U. S. In the second quarter, representing a 1% year over year increase and 6.2% market share. We sold 177 medium duty vehicles in Canada, which represents 4.6% of the Canadian Class five twenty seven market.

Our medium duty results were solid in the second quarter, with both year over year and quarter over quarter sales growth. Demand was broad based across all of our customer segments and we saw particular strength with lease and rental customers. We believe that our ready to roll inventory program continues to differentiate us, enabling faster delivery and improved flexibility for customers. Looking ahead, we expect Class four through seven truck sales in the third quarter to be consistent with our second quarter. We sold 1,750 15 used commercial vehicles in the second quarter, essentially flat compared to the same period in 2024.

While financing remained a challenge for used truck buyers, we believe our inventory is right sized and our used truck strategy is on track. Unlike the new truck market, the used truck market is less exposed to trade and regulatory uncertainty, which could give truck buyers more confidence and incentive to consider used trucks as part of their fleet mix in the near term. We expect third quarter used truck sales to be in line with the second quarter. Rush Truck Leasing achieved record revenues of $93,100,000 in the second quarter, up 6.3% year over year. Our full service leasing revenue increased as we brought new units into service, which also helped lower operating costs and increased profitability.

Rental utilizations will lower year over year, but improve sequentially, and we are confident our leasing and rental performance will be solid for the remainder of the year. On the capital allocation front, we remain focused on returning value to shareholders. During the second quarter, we repurchased $83,900,000 of our common stock as part of our expanded $200,000,000 repurchase authorization. We also paid a cash dividend of $14,500,000 in the quarter. And as I previously mentioned, we just increased our quarterly dividend by 5.6%.

In summary, I am proud of our team's performance in the second quarter. Through disciplined execution, we continue to deliver solid financial results and return value to shareholders. As we remain as we move forward, we will continue to remain focused on operational efficiency and providing our customers with best in class service. With that, I'll take your questions.

Thank you. At this time, we will conduct the question and answer session. As a reminder, to ask a question, you will need to press 11 on your telephone and wait for your name to be announced. To withdraw your question, please press 11 again. Please stand by while we compile the Q and A roster.

Our first question comes from the line of Daniel Imbro with Stephens Inc. Your line is now open.

Yes. Hey, good morning, guys. Thanks for taking our questions.

You bet, Daniel. Good morning to you, sir.

Good morning. Well, Rusty, I'll start maybe on the industry a little bit. I'm sure visibility into orders is about as clear as mud. But how are you thinking about the third quarter as we sit today? And then from a strategic standpoint, just related to that, with the lack of visibility, I guess, what are the OEMs communicating?

Are they taking down production? Are they still pumping out new trucks and telling you guys to deal with them? Kind of what's the order backdrop? And how is that changing with the OEMs?

Well, good question, sir. Dramatically different in the back half of the year from the first half of the year. Every OEM is taking production down. Every OEM has shutdown dates. I'm not gonna get into specifics, but you can broadly say across all brands, all manufacturer, it is going to you're gonna see a lot less trucks built.

Okay? You know, you say, so what causes all that? Well, as I talked about, it's the uncertainty. I mean, we I'll get to the emission stuff, and if anybody wants to know my opinions on all that and, you know, where we stand from a February and a tariff perspective there. But let's just look at April, May, and June.

April, May, and June were the worst three months of order intake since 02/2009. Okay? The US, Canada, and Mexico took in less than 30,000 class eight trucks. Okay? That eventually, you know, comes to fruition inside of the build, that we see.

There's just still so much uncertainty to to know where what what you know, we had we, you know, we built a lot of trucks. Actually q two retail deliveries were flat to slightly up, for the whole country. But I think that everyone pulled everything forward that they could. And right now, production is gonna take is dramatically hit from core sequentially as we've seen since COVID. Okay?

When you and I I I'm putting COVID as an outlier. Really, since you go back way further than that to see you're gonna see from a production, not necessarily all the way through retail. Retail will be down too, but production will be drastically down across all OEMs currently because there's just not any demand out there because uncertainty is there. I mean, I don't look you know, I guess, what was it? Tuesday, we pulled the, you know, the GHG three stuff, but that still is not giving any clarity as to, you know, what we're gonna what we're gonna get from an emissions perspective.

Is it gonna stay two hundred? Is it gonna be point o three five? Is it gonna go to somewhere in the middle? These four engine manufacturers and OEMs don't even have direction yet from the government. So by by what what we're dealing with is creates uncertainty on through the on through the chain to the end user, on top of the fact that we're still in a freight recession, etcetera.

So, you know, buddy, I you know, as I've said in the in the release, you know, for sure, I'm expecting to be down in third quarter. Don't even ask me what the fourth quarter is gonna look like because, you know, it it's it's it's hand to mouth. And with less trucks for sure gonna be built with people canceling shifts, folks, laying off employees, folks taking shutdown days, large numbers of these taking two, three weeks off. Every manufacturer has their own philosophy, but no one is right now currently as we sit. Everybody's handling it the same, to be honest with you, differently, different, but the same, because there really is not any demand because there's still no firm, you know, firm knowledge of where we're gonna be from an EPA perspective in January '27.

Is it gonna stay at point o three five? Is it gonna stay at 200? You know, stay at 200, go to point o three five, which is what the rule of the law says it is right now. But that is very much in question right at the moment. This is somewhere in the buddy, I have no exact idea.

And I so customers by nature, are just waiting to get some direction. Now, I think I said somewhere in the release that, well, maybe things will start shaking out and looking a little better. What I'm talking about is activity. I'm not saying orders, I'm saying by the time we get to Q4, I hope in the latter part of the year that we can finally get some solid trade stuff down from a tariff perspective. You know, as the the the congress and the administration is looking at the two thirty two rule, if that gets where we stand on that, and we get where we stand from an emission perspective, then you can then you know how to play your game, right?

You know what to do with your business. I mean, if it goes and stays at point three five, we're probably gonna see up well, probably we will see a pickup next year. I think in order demand, if it stays at 200, not sure what that means. Right? You won't have the additional cost.

You won't have, you know, the the change in technology to deal with. So, you know, fleets won't be looking at I mean, I hate to use the word. I hadn't heard anybody use the word in a while, pre buy, but I hate to even say it. There might be a slight pre buy if we go to point three, say at point three five next year. I mean, I know I'm answering, I'm trying to give you a broader answer, you know me, I can't help myself.

Maybe your question, but trying to give you some outlook beyond where we are right now in Q3 and Q4, but, you know, into next year, because I think that's what's important to understand is to try to get an outlook into where it's really gonna go. But I can't tell you because I don't have the answers to these questions right now, right? And so all that does is create uncertainty, And we're finally seeing, you know, the fulfillment, true fulfillment of the uncertainty we talked about in the last call back in April. But it only continues to intensify because the further down the you still don't know. Right?

And it just continues to breed, you know, this, well, what do I do? What should I do? Our engine's gonna go up X or they're gonna, you know, it's, we need some clarification. I think once we get that, I think we should maybe able to, regardless of how much activity I'm not gonna get into, you know, it'll depend on what some of these, you know, some of these rulings are. Some of these also some of these tariff trade policy decisions, but I think we'll be able to get kicked off really.

I think we're almost in a low till we get these answers, to be honest with you. And besides, remember, I would tell you from what I've been reading in the last couple of weeks, most of your public carriers, I would say the reports are slightly better than they were in Q1. They're not outstanding by any such, know, but I think more people have gotten to their numbers as depressed as they are, then what, you know, you can see slight green shoots in there, but not a lot. There's still, it's still a tough road out there. Because we're still out of balance, right?

And I know I keep throwing out all these things, but we're still, we still, we still got too much capacity. You know, I think it's continuing, continuing to slight come out slowly out of the marketplace and, and, to meet the demand level that's out there. But, you know, there you go. I'll shut up.

No. Always helpful. And I appreciate the the answer there. I guess maybe on what is more in your control right now. I guess the parts and service improvement in 2Q was notable.

I I think revenue was up. It sounds like technician retention got better. Guess, one, can you talk about what you guys changed to actually drive that or improve retention hiring? And then two, if you were to size up maybe what the earnings power or revenue uplift you can get from the hiring you've done, like, should we think about the earnings power that you could add that's more in your control from growing parts and service over the next year relative to everything else that your control, like the class a demand?

Well, I think, you know, I think right now by maintaining flat to slightly up, I think we're growing compared to the market. Okay. I think we're doing better than the aftermarket from the reports. And remember getting aftermarket comps is probably the most difficult thing there is because, you you get them from different sources. Right?

It's not like vehicle. Vehicles are real simple under title. Right? It's easy to count those, getting to understand what the overall aftermarket is. But I think we're doing a slightly better than the overall aftermarket.

I would tell you that, you know, I think our historical traditional way we go to market is what's allowing us to be fairly good. I would tell you that we're working really hard. We just finished the strategic off-site here in June to really try to, you know, re re re re focus, not refocus, but even more double up, with some more, you know, strategic initiatives to try to really accelerate the growth in our aftermarket business, especially going into next year. Right now, if we can maintain, which I I will tell you, you know, since I'm on the box, I guess I can say what I want. Now that I released earnings, you know, July continued and maybe a little better than June.

Not great. Let's just call it flat. We're continuing to maintain, which, you know, from a company perspective, given the environment, I almost feel like we're growing. Okay. I mean, it may have said 1.4 at the revenue with a little expanded margin.

Well, to me, was better than that just given the environment. Right? So we're to quantify it exactly what what those because they were slightly we grew our Salesforce slightly. I'm not gonna sit here and get you. We didn't we didn't add double digits or anything like that, because I'm not sure the market's accepting of that right now.

But I'll tell you what, we're positioned to do things like that. And we've got a few other things. But again, some of this stuff's proprietary, from my perspective, so I'm not gonna get into everything. But trust me, we're we're we're hands down, committed to, continue to do what we have traditionally done, plus throw a few new things, throw a new few things at it, a few new things at it, as we move forward, especially into '26 and '27. You know, like I said, I believe we can maintain where we're at in parts and service based on what I'm seeing.

We haven't seen any thing go way out of whack or out of line. And as you know, as I was saying, you anywhere 63% last quarter of our profits come from parts and service. So that being the much more stable. That's why sometimes I think our our business model is underappreciated. And the fact whether it's truck sales, it's new, it's it's used, it's medium, you know, our leasing operations and what they contribute to the company.

Our, obviously our parts and service operations and the stability, and then our ability to manage expenses where, you know, if you look at the earnings, this quarter, it's the first quarter over the last three or four, that we weren't down four or 5% in GNA. We were slightly up, but basically flat, but you have to go back and understand that we made those cuts over a year ago. So, but being able to maintain that, I'm very proud of people, you know, in spite of inflationary pressures and things like that, we've been able to maintain that piece of it. So as usual, like I said, I'm rambling off on other tangents, but at the same time, I'm trying to give you a flavor. I was really proud of the court.

When you look at the truck sales pressures that we had, then compare them and to year over year be less than 10% off of what we were last year with 25% less trucks or so. I was a class H saying, I was really proud of that. And it was driven by the parts and service operations, right? And I do believe we have growth back to your original question in there. I'm not sure that takes it place dramatically this year, but I I am very comfortable.

Like I said, what makes me feel good is even though we're only slightly up, I feel like it's more than that given the environment that we're dealing with, man.

No. Always helpful. Appreciate all the color. I'll leave it there. Best of luck, guys.

Thank you, Dale. Any other questions? I'll be happy to take.

Thank you. Our next question comes from Andrew Obin of Bank of America. Your line is now open.

Just a follow-up on the parts and service question. As it seems that a lot of the production shutdowns have to do with the fact that it's more regulatory uncertainty more than anything else. Meanwhile, your parts and service business would indicate that people will continue to utilize the trucks in the field. You know, wouldn't this setup result in more wear and tear and all the trucks, you know, just lack of natural replacement? Wouldn't it drive an uptick in parts and service over the next six to twelve months?

You're right on, Andrew. That's what we're hoping for. Okay? Theoretically, you're correct. The other but there's one caveat.

What's your business like? Okay? Theoretically, you're 100% correct. But you'll have to take into account, you know, what is the what is the customer's business truly look like. Right?

Are they squeezing it down because their business isn't that good? So where for sure that the you're gonna drive older age trucks, but first, you gotta make sure you're utilizing all of them too. What's your utilization? And how is your business? And if all those align, then there's no question what you're saying is totally correct.

But those are caveats to that that you have to take into account also. So yes, without question, mentioned it, but yeah, in the back of my mind, that's what I'm hoping for. Okay? But but I've got these caveats that have to that ride with it. Right?

Another question for you, and I appreciate, you know, sort of the fact that you accelerated buyback. But, you know, if you look at your track record, if you look where we are in the cycle, you know, can you share with us the latest thoughts of the board on maybe stepping up the buyback? Because, historically, you've been very conservative with your balance sheet and I appreciate the reasons for it, but the pushback we get is the execution is fantastic, stocks inexpensive, they have capacity on the balance sheet. You know, how is the boards and your thinking is evolving on the share buyback?

Well, I think we announced during the quarter that we added 50,000,000 to it. Okay? I got about 75,000,000 or so left to spend of the 200. I would hope that the opportunities present themselves. We wouldn't be approving it if we didn't plan on trying to spend it.

But you know, we do it prudently. You know, I'm just not out there and we do it under a 10 b five. So right. So, you know, what happens sometimes is you set prices and, you know, you don't touch it for a while because we're in a quiet period now. We were I'll be relooking at that tomorrow as we reset the matrixes up to continue making sure we're purchasing.

Right? Stock fluctuated some in the quarter, you know, it got down a little bit and back up and, you know, we set a matrix June 10 and we'll be don't touch it till now. And we'll be looking at it, but we wouldn't approve the the money that we've got out there if we didn't wanna spend it. So, you know, we feel real good to get our cash position. Heck, we'll pick up, I don't know, $3,540,000,000 with a big, beautiful bill in cash from a tax perspective this year.

So as you know, our balance sheet's nice and flush, and we have we have the capability to do it. So but as you said, we have been over time. We've been typically fairly conservative. I'm not gonna go out and, you know but we, we I think we have proven the ability and the want to and the desire to buy stock back. Maybe not as at the pace that some people want, maybe at the pace that some do, maybe too much for others, but it's at the pace that we feel comfortable with.

We believe in this organization. We think it's a great opportunity to buy stock back at every moment. I mean, look. I'll just let the track record.

History says twenty year history says there's never one of bad moment to lever up and buy back for our stock.

Alright. Don't you used the word you're not gonna ever get me to do. Lever up. Let's let's let's step back here a minute, Andrew.

I know. I get it. I get it. I know. I know.

Not rushing. Sorry. Appreciate it. Fire me. I'm too conservative.

A little bit more leverage. A little bit more leverage. Okay. Will buy a little bit more leverage.

Let me ask look. As I said, the execution has been stellar. We appreciate it. Thank you. Can you just talk about just Can you just what are you seeing on macro?

I keep asking this question. You have fantastic systems. Just maybe walk us across key verticals, across key geographies, And more importantly, how has your thinking evolved over the past, let's call it three, four months since we've been liberated? Thanks so much.

Oh gosh. I always look back to the April 1 every day, Andrew, and think of what a liberation it's been. Okay. And more uncertainty than you shake a stick at. Alright.

I how have I changed in three to four months? Well, know this. You asked about geographies. I don't want to think, I don't want to be like the whole country like California has been the last year and a half. Let's just say that.

Okay, no disrespect to my love of California stores and anyone out there, but from a business perspective, as industry specific perspective, it has been very, very difficult on the truck sales side. No one they it's almost like gridlock. They I mean, no one has been, if the whole country was to act like California has been, from a truck sales perspective, it'd be really, we'd be woo, it'd be really tough. But fortunately, obviously we are doing different things here with the rest of the country as they, as the political sides fight it out with the feds, you know, having obviously a difference of opinion than carb does out there, but I'm staying out of that. But fortunately, you know, that's loosening up and going to a little, you know, a more what I would call realistic look. I you ask what's changed, that's a lot that's changed. No no matter where the EPA ends up, it is way different than what it was November 5 or whatever it was, of last year, okay? And it's moved to what I would say, I'm not gonna get just move too far or whatever, but it's moved in the right direction to a more realistic view of what the involvement should be from the EPA's perspective that makes sense for this country. Okay?

Not I'm not gonna get into how far each way, but I'm gonna say that's, you know, obviously changed a lot over the last few months. Now it has the problem is it hasn't settled down. Okay? So once that gets settled down, I think we'll all be able to play the game. Right?

It's like, tell me the rules and then I'll play the game. I don't care if they're good or bad or whatever, whatever the tariff is, stop changing all this stuff. If I'm a manufacturer, it's kinda, I don't manufacture it to hire 20 people just to try to figure this stuff out on a daily basis, right? As to where they're at, we need a little stability with a little, you know, looking forward. And I think that'll be good for everyone.

I really do believe that we're gonna get some of that later this year. So I couldn't have told you in April. I feel like it's coming, I feel like we're closer to knowns from the EPA and firm trade policies, I hope. So that, you know, whether it's whether it's the inflow or outflow of freight for our customer base or for manufacturing trying to figure out what vehicles cost or what they have to spend and what they have to have their engines, we just need some stability. We need some, this is what it's gonna be.

But we're in the middle of, but we're getting closer I think, to getting those answers. Whole lot closer than we were in April, right? And that's why I'm kind of proud of the quarter is just because, hey, we took a 25% hit in drug sales, but and we took way more than 7¢ difference in gross profit from trucks from Q2 of last year to Q2 of this year. But hey, we went from 90 seven to 90, why? Because we executed like hell on everything else that we have in our touch.

And so that's why I know this organization will continue to be fluid enough to be able to keep managing. If this has proven anything to me, it's that we do have that ability. I'll put our numbers up against anybody's numbers, But I'm the only public really. Anyway, singular public front leader out there, of execution in q two, and we plan on doing it beyond, q two and and and and the end of the future, Edward. I just, you know, it's just I feel closer to knowing the rules.

And once I once we do and it's not just once customers know the rules, they'll be able to make decisions. But we don't have the rules of the game yet. And I think what you see right now is just gridlock on folks ordering trucks. They want to know what's gonna happen.

Right. So that trumps everything. Right? So it's hard to get a reread what the macro sentiment ex that because this uncertainty

No question. That trumps everything right now. What is are they gonna am I gonna have to go to is it going to is it gonna stay at point three five? It's gonna oh, excuse me. It's gonna stay at two hundred milligrams?

I mean, there's a very good chance it could stay from, look, I don't know, I'm not involved. I'm not in Washington DC. I don't have a phone number to anybody at the EPA, but I know a lot of people that do. I get a lot. And by the way, those opinions I'm getting are varied.

So, know, I'm just trying to form an opinion when it's, you know, secondhand, information, but I am pretty close to a lot of folks. The funny part is that, you know, I, you know, I, it's, they're not all the same thought processes, right? So we and and when you hear this, if you put yourself in my shoes, well, I understand why a customer is stuck in gridlock. Okay? I get it.

You know? Besides my business being somewhat tough, I'm gonna buy what I have to buy. And I mean, I just really should have to buy. I'm not gonna step out till I know. And and and at the same time, you know, I want my business to get with over the road carrier, which is still 65% of everything out there or better.

You know, I want my business to also be a little better. So I, know, even though we retail was good, right now we've hit that screech point, but I do believe as I said, just get us some stuff. And I think activity now that activity will start. Remember for me, it's next year business. So okay.

Rusty is not saying this is all fourth quarter great business for us. I'm I'm on I'm the tail of the dog. So but you guess what? It's gotta start with activity. Then it starts with pricing and quoting orders and, you know, then manufactured and then all of sudden it has to be done to a truck sometimes after it comes off the line till it gets to that retail space.

But I do believe, not so that volumes are about how much will be determined. If it goes to point three five, stays at point three, stays where the law is right now, not where we're not the 200 we're at, then you're probably gonna get, you're gonna get some uptick without question. Now, I don't know about the ability to be able to volume wise produce because we're getting so late in the game. But, you know, I'm confident the administration will come with something I hope in the next sixty days just to give clarity to everybody out there from my this is from a truck sales perspective. Thank God two thirds of my province come from parts and service, Well, as a company, but I do need that other piece too.

I want that other piece with it, that trucks mail piece at the same time. But again, our leasing business is solid. We expect it to remain solid, not gonna grow exponentially, but guarantee is pretty good. And, you know, keep our parts and service dog, maintain discipline inside our expense base. I don't really wanna go out there and rip this place apart.

I did that. You know, we cut it back last year. It was the right thing to do. We've maintained basically exact flat headcount other than adding revenue creation positions. And, you know, we're just gonna keep hanging in there producing solid results till we see a catalyst to really, you know, to really to drive a market to better than what it what it's been right now.

You know, the truck is in the sales market. And also, like you said, guess what? When you talked earlier, your first question earlier, well, hey, Rusty, if they get older, should you work on them more? True. Right?

As long as their business is in line with the expenditures needed as the fleet ages, without question, people have to do more parts and service. That benefits us too. It's better margin business, but we do wanna sell trucks. We need that whole thing working, But the truck sales side is just on a little bit of a hold right now till we get a little more clarity.

Thank you very much, Rusty. Really appreciate it.

Okay. I'm showing no further questions at this time. I would now like to turn it back to Rusty Rush for closing remarks.

Sure. Nothing big here. We appreciate everybody's participation. We will look forward to speaking to everyone in late October, I do believe so. Take care. We will see you now.

Thank you for your participation in today's conference. This does conclude the program. You may now disconnect.

Rush Enterprises (RUSHB) Q2 2025 Earnings Call Transcript

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