PACCAR's (PCAR) Q1 Earnings Beat Estimates, Improve Y/Y

PACCAR Inc. PCAR, the leading manufacturer of heavy-duty trucks in the world, delivered adjusted earnings of $1.45 per share in the first quarter of 2018, surpassing the Zacks Consensus Estimate of $1.31. Moreover, earnings were also higher than year-ago figure of 88 cents.

Revenues

PACCAR posted quarterly consolidated net sales and revenues of revenue of $5.65 billion. Its revenue from the Truck, Parts and Other segment was $5.32 billion. The Zacks Consensus Estimate of revenue was $5.03 billion.

Estimate Trend & Surprise History

PACCAR has beaten the Zacks Consensus Estimate in three of the trailing four quarters with an average beat of around 4.3%. Investors have been eagerly awaiting PACCAR’s latest earnings report to see whether it outperforms in this quarter.

PACCAR Inc. Price and EPS Surprise

PACCAR Inc. Price and EPS Surprise | PACCAR Inc. Quote

Zacks Rank

PACCAR currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

We have highlighted some of the key stats from this Washington-based truck manufacturer’s earnings announcement below:

Key Stats/Developments to Note

Class 8 truck industry orders more than doubled in first-quarter 2018, on a year over year basis. This indicates robust economy and strong freight demand. The company has raised estimate of 2018 Class 8 truck industry retail sales for the U.S. and Canada to a range of 265,000-285,000 vehicles, up from the previous range of a range of 235,000-265,000 trucks.

Check back later for our full write up on PACCAR’s earnings report!

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