Rush Enterprises, Inc. (NasdaqGS:RUSH.B) announces an Equity Buyback for $150 million worth of its shares.
December 03, 2022 at 03:16 am IST
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Rush Enterprises, Inc. (NasdaqGS:RUSH.B) announces a share repurchase program. Under the program, the company will repurchase up to $150 million worth of its class A common stock and/or class B common stock. The plan will be valid up to December 31, 2023.
Rush Enterprises, Inc. is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its 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 its network of Rush Truck Centers, the Company provides one-stop service for the needs of its commercial vehicle customers, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products. It operates over 125 franchised Rush Truck Centers in 23 states. It also owns and operates over 14 international dealership locations in Ontario. It provides aftermarket parts, service and body shop operations plus financing, insurance, leasing and rental, and chrome accessories and tires.