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PACCAR (PCAR) Earnings & Revenues Surpass Estimates in Q1

Zacks Equity Research

PACCAR Inc.’s PCAR first-quarter 2019 earnings were $1.81 per share, surpassing the Zacks Consensus Estimate of $1.66. Results were aided by a record truck delivery and strong global truck demand. In first-quarter 2018, the company’s earnings per share were $1.45.

The company posted quarterly consolidated net sales and revenues of $6.14 billion, up from the prior-year quarter figure of $5.32 billion. The Zacks Consensus Estimate for revenues was pegged at $6 billion.

PACCAR Inc. Price, Consensus and EPS Surprise

 

PACCAR Inc. Price, Consensus and EPS Surprise | PACCAR Inc. Quote

Segmental Results

The pre-tax revenues from the Truck, Parts and Other segment increased to $716.1 million from $591.9 million recorded a year ago.

Revenues from the Financial Services segment rose to $349.5 million from $332.2 million a year ago. Pre-tax income increased to $84 million from $67.5 million in the year-ago quarter.

Financial Position

PACCAR’s cash and marketable debt securities amounted to $3.81 billion as of Mar 31, 2019, compared with $4.30 billion as of Dec 31, 2018.

Class 8 Truck View

In the United States and Canada, Class 8 truck industry retail sale in the first quarter rose 23% year over year. For 2019, the United States and Canada Class 8 truck industry retail sale is anticipated to rise to 295,000-315,000 units from the previously mentioned 285,000-315,000.

Zacks Rank & Other Stocks to Consider

PACCAR currently carries a Zacks Rank #2 (Buy).

A few other top-ranked stocks in the auto space are Geely Automobile Holdings Ltd. GELYY, SPX Corporation SPXC and AB Volvo VLVLY. Geely Automobile and SPX Corp currently carry a Zacks Rank #2 while Volvo sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Geely Automobile has an expected long-term growth rate of 7%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 2.2% upward over the past 30 days.

SPX Corp has an expected current-year growth rate of 18.2%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 0.39% upward over the past 30 days.

Volvo has an expected long-term growth rate of 5%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 8.1% upward over the past 30 days.

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PACCAR Inc. (PCAR) : Free Stock Analysis Report
 
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