Financial Performance - Aftermarket Products and Services generated approximately $2,523.0 million, accounting for 33.9% of total revenues and 63.7% of gross profit for 2025[38] - New commercial vehicle sales represented approximately $4,139.8 million, or 55.7%, of total revenues in 2025, with Class 8 heavy-duty truck sales contributing $2,425.5 million, or 32.6%[41] - New medium-duty commercial vehicle sales accounted for approximately $1,271.1 million, or 17.1%, of total revenues for 2025[42] - Used commercial vehicle sales accounted for approximately $363.7 million, or 4.9%, of total revenues for 2025[44] - Vehicle leasing and rental revenues accounted for approximately $369.6 million, or 5.0%, of total revenues for 2025[45] - Financial and insurance product sales contributed approximately $21.1 million, or 0.3%, of total revenues for 2025[46] - Warranty-related parts and service revenues accounted for approximately $182.7 million, or 2.5%, of total revenues for 2025[39] Dealership Operations - The company operates 126 franchised Rush Truck Centers across 23 states and has an 80% equity interest in Rush Truck Centres of Canada, which operates 12 International dealerships and 2 IC Bus dealerships[26] - The company plans to expand its dealership network by acquiring existing dealerships and opening new locations to enhance market presence and customer service[35] - The company operates 55 franchised Rush Truck Leasing locations in 21 states and 5 locations in Ontario, providing a broad line of commercial vehicles for lease or rent[28] - The company emphasizes a one-stop service model at its dealerships, integrating sales, service, parts, and financial services to meet customer needs[36] - The company has developed mobile service units and technicians to provide on-site service for customers, enhancing service capabilities[36] - The company has a branding program to standardize quality and reliability across its dealership network, enhancing customer recognition[36] Employee and Safety Metrics - As of December 31, 2025, the company employed 7,355 people in the U.S. and 582 in Canada, with less than 1% classified as part-time[50] - The overall employee turnover rate was 26.0% in 2025, down from 30.5% in 2024, while the turnover rate for technicians was 35.0%, compared to 38.1% in 2024[66] - The company had a Total Recordable Incident Rate (TRIR) of 3.18 in 2025, compared to 4.10 in 2024, indicating improved safety performance[70] - The company established a minimum hourly wage of $15.00 per hour and regularly conducts pay analyses to promote transparency and equality[56] - In 2025, the company achieved a Total Recordable Incident Rate (TRIR) of 3.18, improved from 4.10 in 2024, and a Lost Time Incident Rate (LTIR) of 0.64, compared to 0.62 in 2024[70] Acquisitions and Growth Strategy - The company acquired Leeds Transit, Inc. for approximately $25.6 million on June 16, 2025, enhancing its commercial vehicle dealership locations[78] - The company also acquired assets of Nebraska Peterbilt for approximately $16.5 million and Freeway Ford Truck Sales for approximately $16.3 million in 2024 and 2023, respectively[79][80] - The company plans to expand its dealership network through strategic acquisitions and new locations to better serve customers[27] Market Conditions and Competition - The company anticipates increased competition in both current and new markets, impacting its operational strategies and market positioning[82] - As of December 31, 2025, the backlog of commercial vehicle orders was approximately $1,109.6 million, down from $1,512.7 million on December 31, 2024, reflecting challenging industry conditions due to the freight recession[100] - The Truck Segment experiences moderate seasonality, with higher sales volumes in the second and third quarters historically attributed to Aftermarket Products and Services operations[99] Environmental Compliance and Regulations - The company does not anticipate any material environmental liabilities that would adversely affect its financial condition, although soil and groundwater impacts are known to exist at some dealerships[105] - The EPA 2027 Low NOx rule, expected to take effect in January 2027, will require commercial vehicle engines to emit significantly less NOx than current standards[108] - The Clean Truck Partnership, involving CARB and various heavy-duty vehicle manufacturers, aims to comply with emission requirements, although its future is uncertain due to legal challenges[109] - The company is subject to various federal, state, and local environmental laws and regulations, which may require ongoing capital and operating expenditures[101] - The company does not currently have any material environmental liabilities, but acknowledges potential future costs related to environmental compliance and acquisitions[105] - The company is subject to rapidly changing federal and state regulations regarding commercial vehicle engine emissions, including the California Air Resources Board's (CARB) rules aimed at reducing NOx emissions[106] Inventory and Supply Chain Management - The company utilizes a parts inventory distribution system that allows for prompt transfer of parts inventory, reducing delays and maximizing inventory turns[77] - The company provides limited warranties on its proprietary parts and services, as well as extended warranties on new Blue Bird school buses sold in Texas[100] - The company sells used commercial vehicles "as is" without a manufacturer's warranty, but customers can purchase third-party warranties[97] Financial Agreements and Obligations - The PFC Floor Plan Credit Agreement has an aggregate loan commitment of $800 million, with approximately $380 million outstanding as of December 31, 2025[90] - The BMO Floor Plan Credit Agreement was amended to reduce the loan commitment from $1 billion to $675 million, with approximately $263.7 million outstanding as of December 31, 2025[91] - On December 31, 2025, approximately $81.7 million CAD was outstanding under the RTC Canada Floor Plan Credit Agreement[92] - On December 31, 2025, approximately $22.3 million was outstanding under the WF Credit Agreement[93] - On December 31, 2025, approximately $220.0 million was outstanding under the PLC Agreement[94] - On December 31, 2025, approximately $40.4 million CAD was outstanding under the RTC Canada Revolving Credit Agreement[95]

Velocity Vehicles, a nationwide provider of truck sales and service, had its debt rating cut two notches by Moody’s last week, a larger-than-usual reduction a few months after a similar two-step reduction by a competing agency. While a cut of two notches at one time is not unprecedented, it is often a sign of rapidly weakening finances. The new rating of B3 from Moody’s is considered equivalent to a B- rating from S&P Global Ratings.  S&P Global has had that rating on Velocity Vehicles since December, w ...

Exhibit 99.1 Contact: Rush Enterprises, Inc., New Braunfels Steven L. Keller, 830-302-5226 RUSH ENTERPRISES, INC. REPORTS FOURTH QUARTER AND YEAR-END 2025 RESULTS, ANNOUNCES $0.19 PER SHARE DIVIDEND NEW BRAUNFELS, Texas, February 17, 2026 — Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that for the year ended December 31, 2025, the Company achieved revenues of $7.4 billion and net income of $263.8 millio ...

Annual revenues of $7.4 billion; net income of $263.8 millionAnnual earnings per diluted share of $3.274th quarter revenues of $1.8 billion; net income of $64.3 millionBoard declares cash dividend of $0.19 per share of Class A and Class B common stock NEW BRAUNFELS, Texas, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that for the year ended December 31, 2025, the Compan ...

Core Viewpoint - Rush Enterprises, Inc. will host a conference call to discuss its earnings for the fourth quarter and year-end 2025 on February 18, 2026, with earnings reported after market close on February 17, 2026 [1]. Group 1: Conference Call Details - The conference call will take place at 10:00 a.m. Eastern/9:00 a.m. Central on February 18, 2026 [1]. - Participants can register for the call via a provided link and are encouraged to join 10 minutes early [3]. - A replay of the webcast will be available for those unable to attend the live broadcast [3]. Group 2: Company Overview - Rush Enterprises, Inc. operates the largest network of commercial vehicle dealerships in North America, with over 150 locations across 23 states and Ontario, Canada [4]. - The company represents various truck and bus manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, IC Bus, and Blue Bird [4]. - Rush Enterprises offers a comprehensive range of services, including sales of new and used vehicles, aftermarket parts, service, financing, insurance, leasing, and rental [4]. - The company also provides CNG fuel systems, telematics products, vehicle technologies, and accessories [4].

Group 1 - The article discusses the importance of enabling Javascript and cookies in browsers to prevent access issues [1] - It highlights that users with ad-blockers may face restrictions when trying to access content [1]

Core Viewpoint - Rush Enterprises is facing challenges due to a downturn in the trucking market, influenced by a difficult macroeconomic environment, with ongoing pressures on US employment and manufacturing [1]. Company Summary - Rush Enterprises (RUSHB, RUSHA) is experiencing significant pressure from the trucking market downturn [1]. - The current macroeconomic conditions are expected to continue affecting the market negatively in the near future [1]. Industry Summary - The trucking market is under strain due to broader economic challenges, including employment and manufacturing pressures in the US [1].

Sales Forecast - New U.S. Class 8 retail truck sales are forecasted to be 216,300 units in 2025, representing a 12.5% decrease compared to 2024[64] - The company expects to sell approximately 11,700 to 12,800 new Class 8 trucks in 2025, with a market share of 5.4% to 5.9%[64] - New U.S. Class 4 through 7 retail commercial vehicle sales are projected to be 227,225 units in 2025, an 11.8% decrease from 2024[65] - The company anticipates selling approximately 12,500 to 13,600 new Class 4 through 7 commercial vehicles in 2025[65] Revenue Trends - Lease and rental revenue is expected to increase by approximately 4.5% in 2025 compared to 2024[66] - Aftermarket Products and Services revenue showed a slight increase in Q3 2025 compared to Q3 2024, but is expected to remain flat to slightly down in Q4 2025[67] - New heavy-duty vehicle sales decreased by 10.8% in Q3 2025 compared to Q3 2024, with revenues dropping by 12.7%[72] - New light-duty vehicle sales increased by 49.5% in Q3 2025 compared to Q3 2024, with revenues rising by 48.0%[72] - Total new vehicle revenue decreased by 3.5% in Q3 2025 compared to Q3 2024, while used vehicle revenue increased by 17.2%[72] Dealership Performance - The dealership absorption ratio was 129.3% in Q3 2025, down from 132.6% in Q3 2024[72] - The absorption ratio for the commercial vehicle dealerships was 129.3% in Q3 2025, down from 132.6% in Q3 2024[73] Financial Performance - Total revenues decreased by $15.4 million, or 0.8%, in Q3 2025 compared to Q3 2024, primarily due to decreased new Class 8 truck sales[74] - Aftermarket Products and Services revenues increased to $642.7 million in Q3 2025, up 1.5% from Q3 2024, driven by strategic initiatives and higher parts pricing[75] - Sales of new and used commercial vehicles decreased by $28.4 million, or 2.4%, in Q3 2025, attributed to reduced demand and regulatory uncertainty[76] - New Class 8 vehicle sales in the U.S. fell by 10.8% to 3,215 units in Q3 2025 compared to 3,604 units in Q3 2024[77] - Gross profit decreased by $4.3 million, or 1.1%, in Q3 2025, with gross profit as a percentage of sales at 19.9%, down from 20.0% in Q3 2024[82] - SG&A expenses increased by $16.7 million, or 12.6%, in Q3 2025, representing 13.6% of total revenues, up from 12.6% in Q3 2024[88] - Net interest expense decreased by $5.9 million, or 33.7%, in Q3 2025, due to lower inventory levels and interest rates[89] - Income before income taxes decreased by $15.4 million, or 14.9%, in Q3 2025 compared to Q3 2024[90] - The effective tax rate was 22.9% in Q3 2025, slightly down from 23.0% in Q3 2024, with expectations for 2025 to be between 22.5% and 24.0%[91] - Income taxes decreased by $9.2 million in the first nine months of 2025 compared to the same period in 2024, with tax rates at 23.6% and 23.0% respectively[105] Cash Flow and Capital Expenditures - As of September 30, 2025, the company had working capital of approximately $600.8 million, including $242.0 million in cash, sufficient to meet operating requirements for at least the next twelve months[106] - The company expects to purchase or lease commercial vehicles worth approximately $275.0 million to $325.0 million during 2025, depending on customer demand[110] - During the first nine months of 2025, net cash provided by operating activities was $748.9 million, compared to $227.3 million in the same period of 2024[116][118] - Cash used in investing activities during the first nine months of 2025 was $330.2 million, primarily for the acquisition of property and equipment[119] - Financing activities resulted in net cash used of $404.9 million in the first nine months of 2025, primarily due to $997.5 million in principal repayments of long-term debt[121] Stock and Facility Developments - The company repurchased $130.6 million of its common stock under the current stock repurchase program as of September 30, 2025[112] - The company is under contract to construct a new facility in Huntley, IL, with a current budget of $23.8 million[115] - The company anticipates funding capital expenditures through operating cash flows and has sufficient liquidity to meet debt service and working capital requirements for at least the next twelve months[107] Debt and Financing Agreements - As of September 30, 2025, the company had approximately $220.0 million outstanding under the PLC Agreement for financing capital expenditures[124] - The company entered into the PFC Floor Plan Credit Agreement with an aggregate loan commitment of $800.0 million for financing new Peterbilt trucks, with approximately $480.0 million outstanding as of September 30, 2025[127] - The BMO Floor Plan Credit Agreement was amended to reduce the loan commitment from $1.0 billion to $675.0 million, with approximately $317.9 million outstanding as of September 30, 2025[128] - The RTC Canada Floor Plan Credit Agreement was amended to increase the loan commitment to $171.7 million CAD, with approximately $97.3 million CAD outstanding as of September 30, 2025[129] Order Backlog and Market Conditions - The company's backlog of commercial vehicle orders decreased to approximately $647.6 million as of September 30, 2025, down from approximately $1,332.9 million on September 30, 2024, due to challenging industry conditions[130] - The company expects to fill most of its backlog orders during 2025, despite the ongoing freight recession and economic uncertainty[130] Interest Rate Exposure - As of September 30, 2025, the company had total borrowings of $1,120.9 million, with interest rate exposure that could lead to an annual interest expense change of approximately $11.2 million for a 100 basis point shift in rates[142] Regulatory Compliance - The company is subject to various environmental regulations, which may incur capital and operating expenditures, but currently does not believe it has any material environmental liabilities[137] - The company is affected by cyclical variations in unit sales of new commercial vehicles, with historical U.S. retail sales ranging from approximately 197,000 to 281,440 units over the last ten years[132] - The company is preparing for compliance with upcoming emissions regulations, including the EPA 2027 Low NOx rule and the GHG-3 rule, which may impact the production of diesel vehicles[138] - The Clean Truck Partnership was established to comply with CARB's emission requirements, although its future is uncertain due to ongoing legal challenges[140]

Financial Performance - For Q3 2025, Rush Enterprises reported revenues of $1.881 billion, a 0.8% decrease from $1.896 billion in Q3 2024, and net income of $66.7 million, or $0.83 per diluted share, down from $79.1 million, or $0.97 per diluted share in the same period last year[1][17] - Total revenue for Q3 2025 was $1,880,765, a decrease of 0.7% compared to $1,896,133 in Q3 2024[30] - Net income attributable to Rush Enterprises, Inc. for Q3 2025 was $66,690, down 15.7% from $79,132 in Q3 2024[30] - New heavy-duty vehicle sales revenue for Q3 2025 was $591,802, a decrease of 12.7% from $677,882 in Q3 2024[32] - Net income attributable to Rush Enterprises, Inc. for the twelve months ended September 2025 was $274,202, a decrease of 10.8% from $307,448 in September 2024[35] - Adjusted EBITDA (Non-GAAP) for the twelve months ended September 2025 was $425,994, down 9.7% from $472,169 in September 2024[35] Aftermarket and Sales Performance - Aftermarket products and services accounted for approximately 63.7% of total gross profit, with revenues totaling $642.7 million, up 1.5% compared to Q3 2024[5][18] - New U.S. Class 8 retail truck sales totaled 54,078 units in Q3 2025, down 18.9% year-over-year, with the company selling 3,120 new Class 8 trucks, a decrease of 11.0% compared to Q3 2024[9][10] - New Class 4 through 7 retail commercial vehicle sales totaled 53,174 units, down 17.4% year-over-year, with the company selling 2,979 units, a decrease of 8.3% compared to Q3 2024[11][12] - The company expects continued challenges in aftermarket conditions for the remainder of the year, with weak demand anticipated due to ongoing industry headwinds[8] Dividends and Shareholder Returns - The company declared a cash dividend of $0.19 per share of Class A and Class B common stock, to be paid on December 12, 2025[1][6] - The company declared dividends of $0.19 per common share for Q3 2025, up from $0.18 in Q3 2024[30] - The company repurchased $9.2 million of its common stock during Q3 2025, totaling $130.6 million of the $200.0 million authorized by the Board[19] Assets and Liabilities - Total assets as of September 30, 2025, were $4,553,062, a decrease from $4,617,547 as of December 31, 2024[28] - Total debt (GAAP) as of September 30, 2025, was $1,395,920, down from $1,815,461 in 2024[34] - Adjusted total debt (non-GAAP) was $3,458 as of September 30, 2025, compared to $3,985 in 2024[34] - Cash and cash equivalents increased to $242,005 as of September 30, 2025, from $185,073 in 2024[34] Operational Efficiency - Lease and rental revenue increased by 4.7% to $93.3 million in Q3 2025, highlighting the strength of Rush Truck Leasing as a consistent revenue stream[15] - The absorption ratio for Q3 2025 was 129.3%, compared to 132.6% in Q3 2024, indicating effective management of service and parts operations[5][6] - The absorption ratio for Q3 2025 was 129.3%, slightly lower than 132.6% in Q3 2024[32] Capital Expenditures and Investments - The strategic acquisition of an IC Bus franchise in Canada has allowed the company to capture new customer segments and strengthen its market presence[12][20] - The company reported a significant increase in acquisitions of L&RF assets, totaling $344,016 in September 2025 compared to $285,404 in September 2024[36] Cash Flow and Expenses - Free cash flow (Non-GAAP) for the twelve months ended September 2025 was $691,999, a significant recovery from a negative $72,111 in September 2024[36] - Net cash provided by operations (GAAP) increased to $1,139,643 in September 2025 from $311,922 in September 2024, representing a growth of 264.5%[36] - Depreciation and amortization expenses increased to $70,195 in September 2025 from $66,475 in September 2024, marking a rise of 4.3%[35] - Interest expense for the twelve months ended September 2025 was $53,064, down 25% from $70,603 in September 2024[35] Equity and Capital Structure - Total Rush Enterprises, Inc. shareholders' equity (GAAP) rose to $2,214,499 in September 2025, an increase of 6.3% from $2,083,145 in September 2024[37] - Adjusted invested capital (Non-GAAP) decreased to $1,821,040 in September 2025 from $1,902,057 in September 2024, reflecting a decline of 4.3%[37] - Adjusted net debt (cash) (Non-GAAP) worsened to $(393,459) in September 2025 from $(181,088) in September 2024, indicating increased leverage[37]

Financial Performance - For the third quarter of 2025, the company reported revenues of $1.881 billion, a decrease of 0.8% from $1.896 billion in the same quarter of 2024. Net income was $66.7 million, or $0.83 per diluted share, down from $79.1 million, or $0.97 per diluted share, in the prior year [1][19]. - The company recognized a one-time, pre-tax charge of approximately $3.3 million related to Hurricane Helene in the third quarter of 2024, which impacted year-over-year comparisons [1][19]. - Selling, General and Administrative expenses increased due to higher legal reserves and insurance retentions, contributing to the decline in net income [3][19]. Industry Conditions - The commercial vehicle industry faced challenging conditions in Q3 2025, with depressed freight rates and overcapacity affecting market dynamics. Economic uncertainty and regulatory ambiguity, particularly regarding engine emissions, influenced customers' vehicle replacement decisions [2][11]. - New U.S. Class 8 retail truck sales totaled 54,078 units, down 18.9% year-over-year, with the company selling 3,120 new Class 8 trucks, a decrease of 11.0% [10][11]. - Demand from large over-the-road fleet customers remained weak due to a prolonged freight recession, while vocational customer demand was stable, highlighting the strength of the company's diversified customer base [11]. Aftermarket Products and Services - Aftermarket products and services accounted for approximately 63.7% of the company's total gross profit in Q3 2025, with revenues of $642.7 million, up 1.5% from $633.0 million in Q3 2024 [5][20]. - The company achieved a quarterly absorption ratio of 129.3%, slightly down from 132.6% in the same quarter of the previous year, indicating effective management of overhead expenses [5][36]. - The company remains focused on strategic initiatives in the aftermarket segment, including technician recruitment and expanding the aftermarket sales force, to offset weak demand [6][7]. Commercial Vehicle Sales - The company sold 3,215 new heavy-duty trucks, 3,427 new medium-duty commercial vehicles, and 858 new light-duty commercial vehicles in Q3 2025, compared to 3,604, 3,379, and 574 units, respectively, in Q3 2024 [20]. - New Class 4 through 7 retail commercial vehicle sales totaled 53,174 units, a decrease of 17.4% year-over-year, with the company selling 2,979 units, down 8.3% [12][13]. - The company experienced a significant increase in bus sales due to the acquisition of an IC Bus franchise in Canada, which helped capture new customer segments [13]. Leasing and Rental Operations - Leasing and rental revenue in Q3 2025 was $93.3 million, up 4.7% compared to the same quarter in 2024, reinforcing its role as a consistent revenue stream [16][17]. - The company operates over 10,000 trucks in its lease and rental fleet, benefiting from a modernized fleet and disciplined cost management [17]. Dividend and Stock Repurchase - The company's Board of Directors declared a cash dividend of $0.19 per share, to be paid on December 12, 2025, to shareholders of record as of November 12, 2025 [1][9]. - The company repurchased $9.2 million of its common stock during the quarter, with a total of $130.6 million repurchased out of an authorized $200 million [21].