Rush Enterprises Reports Shareholder Voting Results

Published 20/05/2025, 22:24
Rush Enterprises Reports Shareholder Voting Results

Rush Enterprises, Inc. (NASDAQ:RUSHA) (NASDAQ:RUSHB), a $4 billion market cap retail automotive and gasoline station company with a "GOOD" financial health rating according to InvestingPro, disclosed the outcomes of its 2025 Annual Meeting of Shareholders held on May 20, 2025, in a recent SEC filing. Shareholders voted on several key matters, including the election of directors and the ratification of the company’s independent auditor.

The election results for the board of directors were affirmative, with all nine nominees securing their positions for the upcoming year. The detailed voting results revealed a majority of votes in favor, with W.M. "Rusty" Rush receiving 17,787,787 votes, Thomas A. Akin obtaining 17,729,569 votes, and Michael J. McRoberts leading with 17,830,977 votes. The votes withheld and broker non-votes were also reported, but they did not affect the overall outcome. The company maintains strong financial metrics with a P/E ratio of 15.04 and a healthy current ratio of 1.44.

In addition to the directors’ election, shareholders ratified Ernst & Young LLP as Rush Enterprises’ independent registered public accounting firm for the fiscal year 2025. The proposal received an overwhelming majority of votes in favor, with 19,477,519 votes for, 111,004 against, and 10,966 abstentions.

The company’s SEC filing provided the official record of the voting results, ensuring transparency for all stakeholders involved. The results reflect shareholders’ confidence in the current board and the company’s choice of auditors, setting the stage for the next fiscal year.

This news article is based on the information contained in the SEC filing by Rush Enterprises, Inc.

In other recent news, Rush Enterprises reported mixed results for the first quarter of 2025. The company revealed earnings per share (EPS) of $0.73, slightly below the forecast of $0.735, while revenue surpassed expectations at $1.85 billion compared to the anticipated $1.83 billion. Despite the EPS miss, the revenue beat highlights strong operational performance. Stephens analyst Justin T. Long adjusted the price target for Rush Enterprises’ shares to $61 from $63, maintaining an Overweight rating. This adjustment follows the company’s first-quarter performance, which exceeded both Stephens’ and consensus estimates due to stronger pricing. Long noted a conservative outlook on unit sales for the latter half of the year due to macroeconomic uncertainties. The company also experienced a slowdown in aftermarket sales during the first quarter, with an absorption rate of approximately 128%. However, sales trends improved towards the end of the quarter and continued into April, suggesting a more optimistic outlook for the second quarter.

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