Rush Enterprises, Inc. announced that its Board of Directors approved a $50 million increase to its existing stock repurchase program. This raises the aggregate authorization for repurchases of Class A and/or Class B common stock to $200 million. The decision follows the company nearing the original $150 million authorization limit.
The expanded stock repurchase program is scheduled to expire on December 31, 2025. Repurchases will be made at times and in amounts deemed appropriate by the company, through open market transactions, privately negotiated transactions, or other means in accordance with federal securities laws. The actual timing and value of repurchases will be determined by management's discretion.
W.M. 'Rusty' Rush, Chairman, CEO, and President, stated that the increase reflects the company's confidence in its strong capital position, liquidity, and ability to generate robust free cash flow. He emphasized the company's strategic focus on a diversified customer base and its 'One Team' sales approach, which has supported solid financial performance during challenging industry conditions, enabling continued investment in growth while returning capital to shareholders.
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