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PACCAR's (PCAR) Q1 Earnings In Line with Estimates

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PACCAR Inc. (PCAR - Free Report) is the third-largest manufacturer of heavy-duty trucks in the world. It also has substantial manufacturing exposure to light/medium trucks. The company also provides customer support for its products by supplying aftermarket parts as well as finance and leasing services.

PACCAR benefits from strong operating performance and sizeable market share in the U.S. and Canada. The company’s expansion plans and active capital deployment as well as rising European industry sales also inspire optimism. However, PACCAR is likely to be affected competition in the commercial trucks market.

Estimate Trend & Surprise History

The Zacks Consensus Estimate for PACCAR for the first quarter has slightly increased over the past month.

PACCAR has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters with an average beat of around 0.09%. Investors have been eagerly awaiting PACCAR’s latest earnings report to see whether it outperforms in this quarter.

Zacks Rank

PACCAR currently has a Zacks Rank #3 (Hold). We have highlighted some of the key stats from this Washington-based truck manufacturer’s earnings announcement below:

Earnings

PACCAR delivered earnings of 88 cents per share in the first quarter of 2017, in line with the Zacks Consensus Estimate. However, earnings were lower than the adjusted figure of 99 cents in the year-ago quarter.

PACCAR Inc. Price and EPS Surprise

 

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

Revenues

PACCAR recorded revenues of $4.24 billion, beating the Zacks Consensus Estimate of $3.93 billion.

Key Stats/Developments to Note

PACCAR increased sales expectations in the above 16-ton truck market in Europe to 270,000−300,000 units, from the previous guidance of 260,000–290,000 units, for 2017.

Further, the company reiterated the Class 8 industry retail sales in the U.S. and Canada estimation of 190,000-220,000 vehicles.

Market Reaction

PACCAR’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

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

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