PACCAR Inc.’s (PCAR - Free Report) fourth-quarter 2018 earnings were $1.65 per share, surpassing the Zacks Consensus Estimate of $1.57. Results were aided by quality products and services, record heavy-duty truck market share in Europe, strong global truck markets, and solid aftermarket parts’ results. Earnings per share in the prior-year quarter were $1.67. Excluding the one-time tax benefits, earnings per share in fourth-quarter 2017 were $1.18.
PACCAR posted quarterly consolidated net sales and revenues of $5.93 billion, up from the prior-year quarter figure of $5.12 billion. The Zacks Consensus Estimate of revenues was $5.8 billion.
2018 Results
Net sales and revenues for 2018 were at a record $23.50 billion, up 21% from the 2017 figure.
Segmental Results
Revenues from the Truck, Parts and Other segment increased to $5.93 billion in fourth-quarter 2018 from $5.12 billion in fourth-quarter 2017. The segment’s pre-tax income increased to $645.3 million from $522.9 million recorded a year ago.
Revenues from the Financial Services segment rose to $347 million from $332.2 million a year ago. Pre-tax income increased to $87.2 million from $71.9 million in the year-ago quarter.
Financial Position
PACCAR’s cash and marketable debt securities amounted to $4.30 billion as of Dec 31, 2018, compared with $3.62 billion as of Dec 31, 2017.
Class 8 Truck View
In the United States and Canada, Class 8 truck industry retail sales were 285,000 units in 2018, up 30% from 218,000 vehicles sold in 2017. For 2019, the United States and Canada Class 8 truck industry retail sales are anticipated to rise to a range of 285,000-315,000.
Zacks Rank & Stocks to Consider
PACCAR currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Dana Incorporated (DAN - Free Report) and General Motors Company (GM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 15.2%.
Dana has an expected long-term growth rate of 2.9%. Over the past three months, shares of the company have risen 17.2%.
General Motors has an expected long-term growth rate of 8.5%. Over the past three months, shares of the company have risen 14.6%.
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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 >>
PACCAR Inc.’s (PCAR - Free Report) fourth-quarter 2018 earnings were $1.65 per share, surpassing the Zacks Consensus Estimate of $1.57. Results were aided by quality products and services, record heavy-duty truck market share in Europe, strong global truck markets, and solid aftermarket parts’ results. Earnings per share in the prior-year quarter were $1.67. Excluding the one-time tax benefits, earnings per share in fourth-quarter 2017 were $1.18.
PACCAR posted quarterly consolidated net sales and revenues of $5.93 billion, up from the prior-year quarter figure of $5.12 billion. The Zacks Consensus Estimate of revenues was $5.8 billion.
2018 Results
Net sales and revenues for 2018 were at a record $23.50 billion, up 21% from the 2017 figure.
Segmental Results
Revenues from the Truck, Parts and Other segment increased to $5.93 billion in fourth-quarter 2018 from $5.12 billion in fourth-quarter 2017. The segment’s pre-tax income increased to $645.3 million from $522.9 million recorded a year ago.
Revenues from the Financial Services segment rose to $347 million from $332.2 million a year ago. Pre-tax income increased to $87.2 million from $71.9 million in the year-ago quarter.
Financial Position
PACCAR’s cash and marketable debt securities amounted to $4.30 billion as of Dec 31, 2018, compared with $3.62 billion as of Dec 31, 2017.
Class 8 Truck View
In the United States and Canada, Class 8 truck industry retail sales were 285,000 units in 2018, up 30% from 218,000 vehicles sold in 2017. For 2019, the United States and Canada Class 8 truck industry retail sales are anticipated to rise to a range of 285,000-315,000.
Zacks Rank & Stocks to Consider
PACCAR currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Dana Incorporated (DAN - Free Report) and General Motors Company (GM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 15.2%.
Dana has an expected long-term growth rate of 2.9%. Over the past three months, shares of the company have risen 17.2%.
General Motors has an expected long-term growth rate of 8.5%. Over the past three months, shares of the company have risen 14.6%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
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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