Rush Enterprises, Inc. (NASDAQ:RUSHA) Q4 2023 Earnings Call Transcript

But refuse is really going strong. Construction is doing extremely well. Municipal business is holding in strong, almost moderate growth rates, as I said earlier, and we expect that to continue. Like I said, the hardest thing we’ve got going is the small customer, right? That’s why when the small customer does come back in the overall business, we’re going to be in really good shape, because we’re having overcome that one-third of our business being off double-digits So, that will bring back and I expect vocational to continue to be strong given the government monies that are out there, that are being spent right now. So, look 2024 is not going to be what 2023 was. But at the same time, it’s going to be – I’ll stick to my guns as I was asked earlier by Justin about what I’ve said in the past is to we’ll still execute – the truck market, I can’t make the truck market, right?

[But I’m sure] [ph] to take share and grow in the aftermarket and that’s the goal of the organization that’s the most profit business we do.

Andrew Obin: So if I were to summarize it, truck market is bottoming, economy is solid, Rush Enterprises is executing. Is that a fair summary?

Rusty Rush: That’s what we like to think. I guess the proof of it’s been the numbers. But, I think, we’ve had even going back to COVID year, right, in 2020 and what we did in 2021, what we did in 2022, what we did in 2023, we’re going to execute really well. I believe inside of what the 2024 market with a 20%-plus Class 8 decline, maybe not much. So maybe we’re better than that. I don’t want to guarantee anything, but I’d like to see us only behalf of that. But I can’t guarantee that, because I’ve still can build you something, it’s still a moving target, right? We’re back to normal as times. We get out of this allocation world we lived in. And so, everybody’s got to sharpen up their tools and go to work, and get out there and take some shares. These are a little more competitive environment. But, we’ve always been able to do that.

Andrew Obin: My view, guys, it’s a high quality organization. Thanks a lot.

Rusty Rush: Thank you, Andrew. I appreciate it.

Operator: Thank you. Ladies and gentlemen, I’m showing no further questions in the queue. I would now like to turn the call back over to Rusty, for closing remarks.

Rusty Rush: Yes, I want to thank everybody for joining us this morning and we will see you in mid-April. And during [ph] your loved ones, have a happy Valentine’s Day. Thank you very much.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.