PACCAR Inc. (PCAR - Free Report) is scheduled to report first-quarter 2019 financial results on Apr 30, before the market opens. In the last reported quarter, the company delivered a positive earnings surprise of 5.1%. The company surpassed estimates in each of the trailing four quarters, the average beat being 7.6%.
Over the past year, shares of PACCAR have outperformed the industry it belongs to. The stock gained 9.7% against the industry’s decline of 2.1%.
Let’s see, how things shaped up for the upcoming announcement.
Factors Influencing This Quarter
Robust demand in the Class 8 truck industry in the United States and Canada is likely to have positive bearings on PACCAR’s first-quarter 2019 results. In fact, for 2019, Class 8 truck industry retail unit sale in the United States and Canada is anticipated to rise 285,000-315,000.
Moreover, a large number of Europe truck industry registrations above 16 tonnes, steady Europe economic growth and higher freight activity led to increased transport activity and truck demand, thereby brightening PACCAR’s soon-to-be-released quarter’s prospects.
For the quarter under review, the Zacks Consensus Estimate for truck deliveries in the United States and Canada is pegged at 30,118 units while for Europe the figure is 16,046. For 2019, PACCAR projects retail sale of 285,000-315,000 units for the Class 8 truck industry in the United States and Canada, and 319,000-320,000 units for Europe's more than 16-tonne market.
Earnings Whispers
Our proven model does not conclusively predict earnings beat for PACCAR this quarter. This is because a stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here as you will see below.
Earnings ESP: PACCAR’s Earnings ESP is -0.18% as the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.65 and $1.66, respectively.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PACCAR currently carries a Zacks Rank #2.
We caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement, especially when the company is witnessing negative estimate revisions.
Stocks to Consider
Here are a few auto stocks worth considering, comprising the right combination of elements to come up with an earnings beat this time around:
Wabco Holdings Inc. has an Earnings ESP of +2.37% and a Zacks Rank of 3 at present. The company is expected to release financial results for first-quarter 2019 on Apr 26.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Cummins Inc. (CMI - Free Report) has an Earnings ESP of +2.02% and a Zacks Rank #3 at present. The company’s financial results for first-quarter 2019 are slated to release on Apr 30.
Oshkosh Corporation (OSK - Free Report) has an Earnings ESP of +1.62% and a Zacks Rank #3 at present. The company’s financial results for second-quarter 2019 are slated to release on Apr 30.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Click to get it 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 >>
PACCAR Inc. (PCAR - Free Report) is scheduled to report first-quarter 2019 financial results on Apr 30, before the market opens. In the last reported quarter, the company delivered a positive earnings surprise of 5.1%. The company surpassed estimates in each of the trailing four quarters, the average beat being 7.6%.
Over the past year, shares of PACCAR have outperformed the industry it belongs to. The stock gained 9.7% against the industry’s decline of 2.1%.
Let’s see, how things shaped up for the upcoming announcement.
Factors Influencing This Quarter
Robust demand in the Class 8 truck industry in the United States and Canada is likely to have positive bearings on PACCAR’s first-quarter 2019 results. In fact, for 2019, Class 8 truck industry retail unit sale in the United States and Canada is anticipated to rise 285,000-315,000.
Moreover, a large number of Europe truck industry registrations above 16 tonnes, steady Europe economic growth and higher freight activity led to increased transport activity and truck demand, thereby brightening PACCAR’s soon-to-be-released quarter’s prospects.
For the quarter under review, the Zacks Consensus Estimate for truck deliveries in the United States and Canada is pegged at 30,118 units while for Europe the figure is 16,046. For 2019, PACCAR projects retail sale of 285,000-315,000 units for the Class 8 truck industry in the United States and Canada, and 319,000-320,000 units for Europe's more than 16-tonne market.
Earnings Whispers
Our proven model does not conclusively predict earnings beat for PACCAR this quarter. This is because a stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here as you will see below.
Earnings ESP: PACCAR’s Earnings ESP is -0.18% as the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.65 and $1.66, respectively.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PACCAR currently carries a Zacks Rank #2.
We caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement, especially when the company is witnessing negative estimate revisions.
Stocks to Consider
Here are a few auto stocks worth considering, comprising the right combination of elements to come up with an earnings beat this time around:
Wabco Holdings Inc. has an Earnings ESP of +2.37% and a Zacks Rank of 3 at present. The company is expected to release financial results for first-quarter 2019 on Apr 26.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Cummins Inc. (CMI - Free Report) has an Earnings ESP of +2.02% and a Zacks Rank #3 at present. The company’s financial results for first-quarter 2019 are slated to release on Apr 30.
Oshkosh Corporation (OSK - Free Report) has an Earnings ESP of +1.62% and a Zacks Rank #3 at present. The company’s financial results for second-quarter 2019 are slated to release on Apr 30.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Click to get it 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 >>
Get the latest research report on CMI - FREE
Get the latest research report on PCAR - FREE
Get the latest research report on OSK - FREE