Shares of Rush Enterprises (RUSHB) surged 5.51% on Tuesday after the commercial vehicle company reported better-than-expected earnings for the third quarter of 2024, despite a slight revenue miss.

Rush Enterprises posted Q3 earnings of $0.97 per diluted share, exceeding analysts' average estimate of $0.83 per share. The solid earnings performance marked an increase from the $0.96 per share reported in the same quarter last year.

However, the company's Q3 revenue of $1.90 billion fell short of the $1.84 billion consensus estimate from analysts, and also decreased compared to $1.98 billion in the prior-year period. Despite the top-line miss, investors appeared to focus more on the profit beat, driving shares higher on the earnings report.