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PACCAR (PCAR) Earnings Miss Estimates in Q2, Improve Y/Y

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PACCAR Inc.’s (PCAR - Free Report) second-quarter 2019 earnings were $1.78 per share, missing the Zacks Consensus Estimate of $1.81. In second-quarter 2018, the company’s earnings per share were $1.59. This year-over-year improvement can be attributed to a record truck delivery and part sales.

The company posted quarterly consolidated net sales and revenues of $6.63 billion, up from the prior-year quarter figure of $5.81 billion.

PACCAR Inc. Price, Consensus and EPS Surprise

 

PACCAR Inc. Price, Consensus and EPS Surprise

PACCAR Inc. price-consensus-eps-surprise-chart | PACCAR Inc. Quote

Segmental Results

The pre-tax revenues from the Truck, Parts and Other segment increased to $713.3 million from $632.6 million recorded a year ago.

Revenues from the Financial Services segment rose to $80.3 million from $72.4 million a year ago. Pre-tax income increased to $814.4 million from $719.6 million in the year-ago quarter.

Financial Position

PACCAR’s cash and marketable debt securities amounted to $4.18 billion as of Jun 30, 2019, compared with $4.30 billion as of Dec 31, 2018.

Details on Class 8 Truck and View

In the United States and Canada, on a year-to-date basis, Class 8 truck industry retail units sold rose 20% year over year. For 2019, the Class 8 truck industry retail unit sale in the United States and Canada is anticipated to rise to 300,000-320,000 from the previously mentioned 295,000-315,000.

Zacks Rank & Stocks to Consider

PACCAR currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the auto space are Copart, Inc (CPRT - Free Report) , CarMax, Inc (KMX - Free Report) and AutoZone, Inc (AZO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Copart has an expected long-term growth rate of 20%. In the past six months, shares of the company have shot up 58%.

CarMax has an expected long-term growth rate of 12.6%. In the past six months, shares of the company have rallied 42.6%.

AutoZone has an expected long-term growth rate of 12.2%. In the past six months, shares of the company have improved 44.2%.

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