Rush Enterprises, Inc. announced that its Board of Directors approved a new stock repurchase program, authorizing the company to repurchase up to an aggregate of $150 million of its Class A and/or Class B common stock. This new program replaces the previous $150 million authorization, which had $77.5 million utilized through December 2, 2024, and was terminated effective December 2, 2024.
The new stock repurchase program is set to expire on December 31, 2025. Repurchases will be executed at management's discretion through various means, including open market transactions or privately negotiated deals, in compliance with federal securities laws. The timing, number, and value of repurchases will depend on market conditions, stock price, and other factors.
W.M. 'Rusty' Rush, Chairman, CEO, and President, stated that this program reflects the company's continued confidence in its ability to generate strong free cash flow despite challenging industry conditions. He emphasized that strategic investments and a diversified customer base have improved earnings quality, allowing the company to invest in growth while returning capital to shareholders.
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