Rush Enterprises grows revenues in Q3
“Based on current economic indicators, we expect truck deliveries will accelerate in 2014,” Rush says, “resulting in increased truck sales.”
Between July and September, the company completed acquisitions in Kansas, Missouri and Virginia this and entered into purchase agreements with two dealer groups to acquire locations in Illinois and Indiana.
When complete, the acquisitions will expand the Company’s contiguous network of Rush Truck Centers to 106 locations in 20 states.
“These acquisitions provide us with significant presence in the Midwestern United States and Virginia markets, where we had not previously operated,” Rush says. “More importantly, they will expand our service network to provide coverage along highways that run from the Midwestern to the eastern United States, allowing us to serve trucking companies operating in these specific regions as well as those whose operations route through these states to other destinations.”
The company also opened a new International parts and service facility in Springfield, Ohio this quarter and will open a new full service Peterbilt dealership and Paclease commercial vehicle leasing and rental operation in Corpus Christi, Texas in December.
The company’s gross revenues hit $913.1 million in the third quarter, a 22.5 percent increase from gross revenues of $745.1 million reported last year.