PACCAR Inc.’s (PCAR - Free Report) second-quarter 2018 adjusted earnings were $1.59 per share, up from $1.06 recorded in the year-ago quarter. Earnings surpassed the Zacks Consensus Estimate of $1.43. Results were aided by robust global truck deliveries and parts sales.
PACCAR posted quarterly consolidated net sales and revenues of $5.81 billion. Its adjusted revenues were $5.47 billion. The Zacks Consensus Estimate of revenues was $5.43 billion.
Segmental Results
Revenues from the Truck, Parts and Other segment increased to $5.47 billion in second-quarter 2018 from $4.40 billion in second-quarter 2017. The segment’s pre-tax income increased to $632.6 million from $467.9 million recorded a year ago.
Revenues from the Financial Services segment rose to $338 million from $306.3 million a year ago. Pre-tax income increased to $72.4 million from $62.4 million in the year-ago quarter.
Financial Position
PACCAR’s cash and marketable debt securities amounted to $3.44 billion as of Jun 30, 2018, compared with $3.62 billion as of Dec 31, 2017.
Class 8 Truck Scenario & View
In the United States and Canada, Class 8 truck industry retail sales rose 32% year-to-date and are anticipated to be 265,000-285,000 vehicles in 2018.
Zacks Rank & Key Picks
PACCAR currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are LKQ Corporation (LKQ - Free Report) , General Motors Company (GM - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) . While LKQ sports a Zacks Rank #1 (Strong Buy), General Motors and Fox Factory carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
LKQ has an expected long-term growth rate of 15%. Over a year, shares of the company have gained 10.4%.
General Motors has an expected long-term growth rate of 8.8%. Over the past year, shares of the company have gained 10%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 35.4% over the past year.
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PACCAR Inc.’s (PCAR - Free Report) second-quarter 2018 adjusted earnings were $1.59 per share, up from $1.06 recorded in the year-ago quarter. Earnings surpassed the Zacks Consensus Estimate of $1.43. Results were aided by robust global truck deliveries and parts sales.
PACCAR posted quarterly consolidated net sales and revenues of $5.81 billion. Its adjusted revenues were $5.47 billion. The Zacks Consensus Estimate of revenues was $5.43 billion.
Segmental Results
Revenues from the Truck, Parts and Other segment increased to $5.47 billion in second-quarter 2018 from $4.40 billion in second-quarter 2017. The segment’s pre-tax income increased to $632.6 million from $467.9 million recorded a year ago.
Revenues from the Financial Services segment rose to $338 million from $306.3 million a year ago. Pre-tax income increased to $72.4 million from $62.4 million in the year-ago quarter.
Financial Position
PACCAR’s cash and marketable debt securities amounted to $3.44 billion as of Jun 30, 2018, compared with $3.62 billion as of Dec 31, 2017.
Class 8 Truck Scenario & View
In the United States and Canada, Class 8 truck industry retail sales rose 32% year-to-date and are anticipated to be 265,000-285,000 vehicles in 2018.
Zacks Rank & Key Picks
PACCAR currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are LKQ Corporation (LKQ - Free Report) , General Motors Company (GM - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) . While LKQ sports a Zacks Rank #1 (Strong Buy), General Motors and Fox Factory carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
LKQ has an expected long-term growth rate of 15%. Over a year, shares of the company have gained 10.4%.
General Motors has an expected long-term growth rate of 8.8%. Over the past year, shares of the company have gained 10%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 35.4% over the past year.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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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