Rush Enterprises, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

Rush Enterprises, Inc. has filed its comprehensive 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.

AI Summary

RUSH ENTERPRISES INC \TX\ (RUSHB) filed a Annual Report (10-K) with the SEC on February 23, 2024. Rush Enterprises, Inc. reported its fiscal year 2023 results on Form 10-K, filed February 23, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 555 IH 35 South, New Braunfels, TX 78130. Rush Enterprises, Inc. is classified under SIC code 5500 (Retail-Auto Dealers & Gasoline Stations). The filing includes financial data and operational details for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking RUSH ENTERPRISES INC \TX\, this filing contains several important signals. This 10-K filing provides investors and analysts with the official year-end financial statements and management's discussion of results, crucial for evaluating the company's performance and future outlook. Understanding the details within this report is essential for assessing Rush Enterprises' financial health, operational strategies, and any potential risks or opportunities in the automotive retail and commercial vehicle sectors.

Risk Assessment

Risk Level: medium — RUSH ENTERPRISES INC \TX\ shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual disclosure. However, the automotive and commercial vehicle sectors are subject to economic fluctuations and supply chain issues, which could impact future performance.

Analyst Insight

Review the detailed financial statements and management's discussion in the 10-K to understand revenue drivers, cost structures, and strategic initiatives for fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-23 — Filing Date (FILED AS OF DATE)
• 5500 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• RUSH ENTERPRISES INC (company) — FILER
• 555 IH 35 SOUTH (address) — BUSINESS ADDRESS
• NEW BRAUNFELS (city) — BUSINESS ADDRESS
• TX (state) — BUSINESS ADDRESS
• 78130 (zip_code) — BUSINESS ADDRESS
• 8306265200 (phone_number) — BUSINESS PHONE

FAQ

Industry Context

Rush Enterprises operates within the automotive retail and commercial vehicle dealership industry, which is influenced by economic conditions, manufacturing output, and demand for transportation services.

Regulatory Implications

As a publicly traded company, Rush Enterprises is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the consolidated financial statements, including the balance sheets, income statements, and cash flow statements.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into performance drivers and trends.
3. Examine the risk factors section for potential challenges and uncertainties facing the company.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing. A comparison to the previous year's filing would require access to that document.

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 par value RUSHA NASDAQ Global Selec
• $40.49 — n The NASDAQ Global Select Market SM of $40.49 for the registrant's Class A common sto
• $45.37 — e registrant's Class A common stock and $45.37 for the registrant's Class B common sto

Filing Documents

• rusha20231231_10k.htm (10-K) — 2614KB
• ex_628004.htm (EX-10.5) — 91KB
• ex_628005.htm (EX-10.6) — 73KB
• ex_628050.htm (EX-21.1) — 85KB
• ex_628051.htm (EX-23.1) — 7KB
• ex_628052.htm (EX-31.1) — 9KB
• ex_628053.htm (EX-31.2) — 8KB
• ex_628054.htm (EX-32.1) — 4KB
• ex_628055.htm (EX-32.2) — 4KB
• ex_628006.htm (EX-97.1) — 30KB
• pic1.jpg (GRAPHIC) — 52KB
• 0001437749-24-005362.txt ( ) — 11608KB
• rusha-20231231.xsd (EX-101.SCH) — 84KB
• rusha-20231231_def.xml (EX-101.DEF) — 626KB
• rusha-20231231_lab.xml (EX-101.LAB) — 581KB
• rusha-20231231_pre.xml (EX-101.PRE) — 677KB
• rusha-20231231_cal.xml (EX-101.CAL) — 76KB
• rusha20231231_10k_htm.xml (XML) — 1818KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 18 Item 1B Unresolved Staff Comments 27 Item 1C Cybersecurity 27 Item 2

Properties

Properties 27 Item 3

Legal Proceedings

Legal Proceedings 27 Item 4 Mine Safety Disclosures 28 Part II Item 5 Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 28 Item 6

Selected Financial Data

Selected Financial Data 31 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 43 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 44 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 76 Item 9A

Controls and Procedures

Controls and Procedures 76 Item 9B Other Information 78 Part III Item 10 Directors, Executive Officers and Corporate Governance 78 Item 11

Executive Compensation

Executive Compensation 78 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 78 Item 13 Certain Relationships and Related Transactions, and Director Independence 78 Item 14 Principal Accountant Fees and Services 78 Part IV Item 15 Exhibits, Financial Statement Schedules 79 Item 16 Form 10-K Summary 82 Table of Contents NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this Form 10-K (or otherwise made by the Company or on the Company ' s behalf from time to time in other reports, filings with the Securities and Exchange Commission ( " SEC " ), news releases, conferences, website postings or otherwise) that are not statements of historical fact constitute " forward-looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the " Securities Act " ), and Section 21E of the Exchange Act of 1934, as amended (the " Exchange Act " ), notwithstanding that such statements are not specifically identified. Forward-looking statements include statements about the Company ' s financial position, business strategy and plans and objectives of management of the Company for future operations. These forward-looking statements reflect the best judgments of the Company about the future events and trends based on the beliefs of the Company ' s management as well as assumptions made by and information currently available to the Company ' s management. Use of the words " may, " " should, " " continue, " " plan, " " potential, " " anticipate, " " believe, " " estimate, " " expect " and " intend " and words or phrases of similar import, as they relate to the Company or its subsidiaries or Company management, are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements reflect our current view of the Company with respect to future events and are subject

Business

Item 1. Business References herein to "the Company," "Rush Enterprises," "we," "our" or "us" mean Rush Enterprises, Inc., a Texas corporation, and its subsidiaries unless the context requires otherwise. Access to Company Information We electronically file annual reports, quarterly reports, proxy statements and other reports and information statements with the SEC. You may read and copy any of the materials that we have filed with the SEC at the SEC's Public Reference Room at 100 F Street NE, Washington, DC 20549. You may obtain information about the Public Reference Room by calling the SEC at 1-800-SEC-0330. Our filings are also available to you on the SEC's website at www.sec.gov. We make certain of our SEC filings available, free of charge, through our website, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all amendments to these reports. These filings are available as soon as reasonably practicable after such material is electronically filed with, or furnished to, the SEC. Our website address is www.rushenterprises.com. The information contained on our website, or on other websites linked to our website, is not incorporated into this report or otherwise made part of this report. General Rush Enterprises, Inc. was incorporated in Texas in 1965 and consists of one reportable segment, the Truck Segment, and conducts business through its subsidiaries. Our principal offices are located at 555 IH 35 South, Suite 500, New Braunfels, Texas 78130. We are a full-service, integrated retailer of commercial vehicles and related services. The Truck Segment includes our operation of a network of commercial vehicle dealerships under the name "Rush Truck Centers." Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird and Dennis Eagle. Through our strategically located network of Rush Truck Centers, we provide one-stop service for the ne

View Full Filing

View this 10-K filing on SEC EDGAR