PACCAR's (PCAR) Q3 Earnings & Revenue Beat Estimates
PACCAR Inc. PCAR is the third-largest manufacturer of heavy-duty trucks in the world. It also has substantial manufacturing exposure to light/medium trucks. The company also provides customer support for its products by supplying aftermarket parts as well as finance and leasing services.
PACCAR is benefiting from its strong operating presence and sizeable market share in the United States and Canada. The company’s active capital deployment policy, strategic investments and global expansion plans also inspire optimism.
PACCAR Inc. Price and EPS Surprise
PACCAR Inc. Price and EPS Surprise | PACCAR Inc. Quote
Estimate Trend & Surprise History
PACCAR has beaten the Zacks Consensus Estimate in one of the trailing four quarters with an average beat of around 0.08%. Investors have been eagerly awaiting PACCAR’s latest earnings report to see whether it outperforms in this quarter.
Zacks Rank
PACCAR currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key stats from this Washington-based truck manufacturer’s earnings announcement below:
Earnings
PACCAR delivered earnings of $1.14 per share in the third quarter of 2017, surpassing the Zacks Consensus Estimate of $1.09. Moreover, earnings were also higher than year-ago figure of 98 cents.
Revenues
PACCAR recorded revenues of $4.73 billion, beating the Zacks Consensus Estimate of $4.6 billion.
Key Stats/Developments to Note
The company increased the Class 8 industry retail sales estimates in the United States and Canada, to be within 210,000-220,000, as against the previous expectation of 200,000-220,000 vehicles, for 2017.
Check back later for our full write up on PACCAR’s earnings report!
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