Commercial vehicle retailer Rush Enterprises (NASDAQ: RUSH.A) will be reporting results this Tuesday after the bell. Here’s what to look for.
Rush Enterprises beat analysts’ revenue expectations last quarter, reporting revenues of $1.77 billion, down 11.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ revenue 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 decline 7% year on year, a further deceleration from the 1.1% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Rush Enterprises has a history of exceeding Wall Street’s expectations.
Looking at Rush Enterprises’s peers in the industrial distributors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 3.1%, beating analysts’ expectations by 4.4%, and United Rentals reported revenues up 7.2%, topping estimates by 2.4%. Richardson Electronics traded up 22.7% following the results while United Rentals was also up 22.9%.
Read our full analysis of Richardson Electronics’s results here and United Rentals’s results here.
There has been positive sentiment among investors in the industrial distributors segment, with share prices up 15% on average over the last month. Rush Enterprises is up 15.3% during the same time and is heading into earnings with an average analyst price target of $78.67 (compared to the current share price of $74.93).
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