10:00 am PACCAR Drops Over 4% Following Quarterly Results
Truck maker PACCAR (PCAR 61.20 -2.85) is trading over 4% lower this morning following quarterly earnings results.
Ahead of the open this morning, the company reported fourth quarter earnings of $1.11 per share, which slightly topped expectations On the top line, revenues rose 12.0% year/year to $4.82 billion, which came in just slightly below expectations.
Overall, Class 8 truck industry retail sales in the U.S. and Canada were 250,000 units in 2014, compared to the 212,000 vehicles sold in 2013. The company said …More