Aftermarket Operations Growth
Aftermarket operations accounted for approximately 63% of total gross profit in the second quarter, with revenues reaching $636.3 million, an increase of 1.4% year-over-year. The absorption ratio was 135.5%, and aftermarket revenues reached their highest level in the past 12 months.
Technician Turnover Improvement
Technician turnover reached a 12-month low, and the aftermarket sales force was expanded, strengthening the company's ability to support customers.
Rush Truck Leasing Record Revenues
Rush Truck Leasing achieved record revenues of $93.1 million in Q2, marking a 6.3% year-over-year increase. Full-service leasing revenue increased, leading to lower operating costs and higher profitability.
Stock Repurchase and Dividend Increase
During the second quarter, $83.9 million of common stock was repurchased under a $200 million authorization, and a cash dividend of $14.5 million was paid. The quarterly dividend was increased by 5.6%.