Rush Enterprises Q2 2026: Revenue slips slightly, EPS holds steady, while backlog surges to $1.98B
RUSHA sits 75% above its 52-week low of $45.67.
Summary
Rush Enterprises' Q2 2026 results were mixed: revenue dipped slightly but earnings held steady. The backlog more than doubled to $1.98 billion, and the company announced a 3:2 stock split and a new joint venture.
Key Events · Earnings and Guidance · RUSHA
-
Q2 Revenue Down 1.6%, EPS Flat
Revenue came in at $1.90 billion, missing last year's $1.93 billion, but net income of $73.0 million ($0.91 diluted EPS) was nearly unchanged. Growth in aftermarket and lease/rental revenue partially offset a decline in new and used truck sales.
-
Backlog More Than Doubles to $1.98B
Driven by large fleet orders, the commercial vehicle order backlog surged to $1,975.9 million from $967.0 million a year ago. Most of this backlog is expected to be filled in 2026 and early 2027, pointing to a strong revenue pipeline.
-
Two Acquisitions Closed in Q2
Expanding its dealership network in Canada and the U.S. Gulf Coast, Rush acquired Carrier Truck Center in Ontario for $25.2 million CAD and Peterbilt of Louisiana for $36.9 million.
-
3:2 Stock Split Announced
A three-for-two stock split will be paid as a stock dividend on August 31, 2026, to shareholders of record on August 11, 2026. Shares will trade on a split-adjusted basis starting September 1, 2026.
Analysis · RUSHA · Trade & Services
Rush Enterprises reported Q2 2026 revenue of $1.90 billion, down 1.6% from the prior year, while net income remained essentially flat at $73.0 million. The standout figure is the backlog, which more than doubled to $1.98 billion, signaling robust future demand. The company also completed two acquisitions and announced a 3:2 stock split along with a joint venture with MCT Companies. The stock split is scheduled for August 31, 2026, and the JV is expected to close in Q3. Even as current results show modest softness, the backlog surge and strategic moves suggest management is positioning for a stronger second half.
At the time of this filing, RUSHA was trading at $80.08 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $45.67 to $83.61. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.