PACCAR Inc. (PCAR - Free Report) reported earnings of $1.47 per share in fourth-quarter 2021, topping the Zacks Consensus Estimate of $1.31 and rising from the year-ago figure of $1.17. Higher-than-expected pre-tax profits across all segments resulted in the outperformance.
Consolidated revenues (including trucks and financial services) came in at $6,686.1 million, up from $5,568.6 million recorded in the corresponding quarter of 2020. Sales from Trucks, Parts and Others came in at $6,295.7 million, beating the consensus mark of $5,383.4 million.
Key Takeaways
Revenues from the Trucks segment totaled $4,961.9 million in the December quarter, higher than the prior-year quarter’s $4,044.8 million. The figure also topped the consensus mark of $4,115 million. The segment’s pre-tax income came in at $192.8 million, falling almost 18% year over year. The reported figure, however, beat the consensus mark of $189 million.
Revenues from the Parts segment totaled $1,312.1 million in the reported quarter, increasing from the year-earlier period’s $1,074.4 million and surpassing the consensus mark of $1,256 million. The segment’s pre-tax income came in at $306.4 million, up from $222.5 million recorded in the year-ago period. The reported figure also topped the consensus mark of $274 million.
Revenues in the Financial Services segment declined to $390.4 million from the year-earlier quarter’s $432.6 million and fell short of the consensus estimate of $446 million. Nonetheless, pre-tax income rose to $134.6 million from $63.8 million, beating the consensus mark of $122 million.
Selling, general and administrative expenses in fourth-quarter 2021 rose to $150.6 million from the prior-year period’s $133.5 million. Research & development (R&D) expenses were $87.1 million in the quarter compared with the year-earlier period’s $71.7 million.
PACCAR’s cash and marketable debt securities amounted to $4,813 million as of Dec 31, 2021, compared with $4,834 million on Dec 31, 2020.
For 2022, capex is projected at $425-$475 million, while R&D expenses are estimated in the $350-$400 million band.
Key Picks
PACCAR currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the auto space are Ford (F - Free Report) and Tesla (TSLA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), and Genuine Parts (GPC - Free Report) , carrying a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ford has an expected earnings growth rate of 8.11% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 2.7% upward over the past 60 days.
Ford’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. F pulled off a trailing four-quarter earnings surprise of 335.6%, on average. The stock has also rallied 82.9% over a year.
Tesla has an expected earnings growth rate of 35.21% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 5% upward over the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 25.38%, on average. The stock has also rallied 7.1% over a year.
Genuine Parts has an expected earnings growth rate of 10.03% for the current year. The Zacks Consensus Estimate for earnings for the current year has been revised around 2.2% upward over the past 60 days.
Genuine Parts’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters. GPC pulled off a trailing four-quarter earnings surprise of 16%, on average. Its shares have gained 29% over a year.
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PACCAR Inc. (PCAR - Free Report) reported earnings of $1.47 per share in fourth-quarter 2021, topping the Zacks Consensus Estimate of $1.31 and rising from the year-ago figure of $1.17. Higher-than-expected pre-tax profits across all segments resulted in the outperformance.
Consolidated revenues (including trucks and financial services) came in at $6,686.1 million, up from $5,568.6 million recorded in the corresponding quarter of 2020. Sales from Trucks, Parts and Others came in at $6,295.7 million, beating the consensus mark of $5,383.4 million.
Key Takeaways
Revenues from the Trucks segment totaled $4,961.9 million in the December quarter, higher than the prior-year quarter’s $4,044.8 million. The figure also topped the consensus mark of $4,115 million. The segment’s pre-tax income came in at $192.8 million, falling almost 18% year over year. The reported figure, however, beat the consensus mark of $189 million.
Revenues from the Parts segment totaled $1,312.1 million in the reported quarter, increasing from the year-earlier period’s $1,074.4 million and surpassing the consensus mark of $1,256 million. The segment’s pre-tax income came in at $306.4 million, up from $222.5 million recorded in the year-ago period. The reported figure also topped the consensus mark of $274 million.
Revenues in the Financial Services segment declined to $390.4 million from the year-earlier quarter’s $432.6 million and fell short of the consensus estimate of $446 million. Nonetheless, pre-tax income rose to $134.6 million from $63.8 million, beating the consensus mark of $122 million.
Selling, general and administrative expenses in fourth-quarter 2021 rose to $150.6 million from the prior-year period’s $133.5 million. Research & development (R&D) expenses were $87.1 million in the quarter compared with the year-earlier period’s $71.7 million.
PACCAR’s cash and marketable debt securities amounted to $4,813 million as of Dec 31, 2021, compared with $4,834 million on Dec 31, 2020.
For 2022, capex is projected at $425-$475 million, while R&D expenses are estimated in the $350-$400 million band.
Key Picks
PACCAR currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the auto space are Ford (F - Free Report) and Tesla (TSLA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), and Genuine Parts (GPC - Free Report) , carrying a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ford has an expected earnings growth rate of 8.11% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 2.7% upward over the past 60 days.
Ford’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. F pulled off a trailing four-quarter earnings surprise of 335.6%, on average. The stock has also rallied 82.9% over a year.
Tesla has an expected earnings growth rate of 35.21% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 5% upward over the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 25.38%, on average. The stock has also rallied 7.1% over a year.
Genuine Parts has an expected earnings growth rate of 10.03% for the current year. The Zacks Consensus Estimate for earnings for the current year has been revised around 2.2% upward over the past 60 days.
Genuine Parts’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters. GPC pulled off a trailing four-quarter earnings surprise of 16%, on average. Its shares have gained 29% over a year.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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