Stock Monitor: Hyster-Yale Materials Handling Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 9, 2018 / If you want access to our free earnings report on PACCAR Inc. (NASDAQ: PCAR), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PCAR. The Company posted its financial results on April 24, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Bellevue, Washington-based Company's total sales and revenues surged 33% y-o-y, beating analysts' estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
During Q1 FY18, PACCAR reported record quarterly total sales and revenues of $5.65 billion, which came in above the $4.24 billion recorded at the end of Q1 FY17. The Company's total sales and revenue numbers for the reported quarter outperformed Wall Street's expectations of $5.03 billion. The Company benefited from record quarterly truck deliveries, which were driven by a strong market share and a robust global truck demand.
The truck maker's total income before income taxes came in at $669.4 million, rising from the $448.2 million in the year-ago same period. The Company's net income also rose to $512.1 million, or $1.45 per diluted share, during Q1 FY18 from $310.3 million, or $0.88 per diluted share, in Q1 FY17. Moreover, market analysts had expected the Company to report a net income of $1.31 per diluted share for the reported quarter.
During the quarter ended March 31, 2018, PACCAR's Truck segment's net sales and revenues increased to a record $4.35 billion from $3.13 billion in Q1 FY17, primarily attributable to higher truck deliveries in the US, Canada, Europe, and Australia, and favorable currency translation effects. The segment's income before income taxes rose to $395.2 million, or 9.1% of segment sales and revenues, in Q1 FY18 from $231.2 million, or 7.4% of segment sales and revenues, in Q1 FY17.
Due to higher aftermarket demand and successful marketing programs, the Company's Parts segment's sales and revenues rose to $939.9 million in Q1 FY18 from $786.7 million in Q1 FY17. The segment's income before income taxes came in at $191.8 million, or 20.4% of segment sales and revenues, in the reported quarter versus $150.8 million, or 19.2% of segment sales and revenues, in the last year's comparable quarter.
PACCAR's Financial Services segment generated sales and revenues amounting to $332.2 million in Q1 FY18, which came in above the $302.2 million recorded in Q1 FY17. For Q1 FY18, the segment's income before income taxes improved to $67.5 million from $56.8 million in Q1 FY17.
During the reported quarter, the United States and Canada regions' revenues increased to $3.45 billion from $2.52 billion in Q1 FY17. Europe region's contribution to the Company's sales and revenues grew to $1.59 billion in Q1 FY18 compared to $1.23 billion in Q1 FY17. Furthermore, the Company's Other regions' sales and revenues were $621.2 million in Q1 FY18, up from $484.2 million in Q1 FY17.
Cash Flow and Balance Sheet
For the quarter ended March 31, 2018, PACCAR generated cash from operations of $528.5 million compared to $610.5 million in the previous year's corresponding quarter. The Company had a cash and cash equivalents balance of $2.50 billion as on March 31, 2018, compared to $2.36 billion at the close of books as on December 31, 2017.
In a separate press release on May 01, 2018, PACCAR's Board of Directors declared a hike to the regular quarterly cash dividend per share of 12% to $0.28 from $0.25, payable on June 05, 2018, to stockholders of record at the close of business on May 15, 2018.
Stock Performance Snapshot
May 8, 2018 - At Tuesday's closing bell, PACCAR's stock slightly fell 0.39%, ending the trading session at $64.25.
Volume traded for the day: 1.53 million shares.
Stock performance in the past twelve-month period – up 0.22%
After yesterday's close, PACCAR's market cap was at $22.65 billion.
Price to Earnings (P/E) ratio was at 13.32.
The stock has a dividend yield of 1.56%.
The stock is part of the Consumer Goods sector, categorized under the Trucks & Other Vehicles industry.
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