PACCAR Inc.’s (PCAR - Free Report) first-quarter 2018 adjusted earnings were $1.45 per share, up from 88 cents recorded in the year-ago quarter. Earnings surpassed the Zacks Consensus Estimate of $1.31. Results were aided by record quarterly truck deliveries, robust Parts revenues and pretax profits.
During the quarter, PACCAR posted quarterly consolidated net sales and revenues of $5.65 billion. Its revenues from the Truck, Parts and Other segment were $5.32 billion. The Zacks Consensus Estimate of revenues was $5.03 billion.
Segment Results
Revenues from the Truck, Parts and Other segment increased to $5.32 billion in first-quarter 2018 from $3.94 billion in first-quarter 2017. The segment’s pre-tax income increased to $591.9 million from $383.3 million, recorded a year ago.
Revenues from the Financial Services segment (comprising a portfolio of 187,000 trucks and trailers with total assets of $13.59 billion) rose to $332.2 million from $302.2 million a year ago. Pre-tax income increased to $67.5 million from $56.8 million in the year-ago quarter.
Financial Position
PACCAR’s cash and marketable debt securities amounted to $3.47 billion as of Mar 31, 2018, compared with $3.62 billion as of Dec 31, 2017.
Class 8 Truck Scenario & View
Class 8 truck industry orders more than doubled in first-quarter 2018, on a year-over-year basis. This indicates a robust economy and strong freight demand. The company raised estimates of 2018 Class 8 truck industry retail sales for the U.S. and Canada to 265,000-285,000 vehicles, up from the previous range of 235,000-265,000 trucks.
Zacks Rank & Key Picks
PACCAR currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space include Fox Factory Holding Corp. (FOXF - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Honda Motor Co., Ltd. (HMC - Free Report) , each carrying a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Fox Factory Holding has an expected long-term growth rate of 10.5%. In the past year, shares of the company have returned 19%.
Allison Transmission has an expected long-term growth rate of 10%. In a year, shares of the company have advanced 11.5%.
Honda has an expected long-term growth rate of 4.8%. In a year’s time, shares of the company have returned 18%.
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PACCAR Inc.’s (PCAR - Free Report) first-quarter 2018 adjusted earnings were $1.45 per share, up from 88 cents recorded in the year-ago quarter. Earnings surpassed the Zacks Consensus Estimate of $1.31. Results were aided by record quarterly truck deliveries, robust Parts revenues and pretax profits.
During the quarter, PACCAR posted quarterly consolidated net sales and revenues of $5.65 billion. Its revenues from the Truck, Parts and Other segment were $5.32 billion. The Zacks Consensus Estimate of revenues was $5.03 billion.
Segment Results
Revenues from the Truck, Parts and Other segment increased to $5.32 billion in first-quarter 2018 from $3.94 billion in first-quarter 2017. The segment’s pre-tax income increased to $591.9 million from $383.3 million, recorded a year ago.
Revenues from the Financial Services segment (comprising a portfolio of 187,000 trucks and trailers with total assets of $13.59 billion) rose to $332.2 million from $302.2 million a year ago. Pre-tax income increased to $67.5 million from $56.8 million in the year-ago quarter.
Financial Position
PACCAR’s cash and marketable debt securities amounted to $3.47 billion as of Mar 31, 2018, compared with $3.62 billion as of Dec 31, 2017.
Class 8 Truck Scenario & View
Class 8 truck industry orders more than doubled in first-quarter 2018, on a year-over-year basis. This indicates a robust economy and strong freight demand. The company raised estimates of 2018 Class 8 truck industry retail sales for the U.S. and Canada to 265,000-285,000 vehicles, up from the previous range of 235,000-265,000 trucks.
Zacks Rank & Key Picks
PACCAR currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space include Fox Factory Holding Corp. (FOXF - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Honda Motor Co., Ltd. (HMC - Free Report) , each carrying a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Fox Factory Holding has an expected long-term growth rate of 10.5%. In the past year, shares of the company have returned 19%.
Allison Transmission has an expected long-term growth rate of 10%. In a year, shares of the company have advanced 11.5%.
Honda has an expected long-term growth rate of 4.8%. In a year’s time, shares of the company have returned 18%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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