PACCAR (PCAR) Q3 Earnings Surpass Estimates, Improve Y/Y
PACCAR Inc.’s PCAR third-quarter 2018 earnings were $1.55 per share, up from $1.14 recorded in the year-ago quarter. Earnings surpassed the Zacks Consensus Estimate of $1.50. Results were aided by robust global truck deliveries and aftermarket sales.
PACCAR posted quarterly consolidated net sales and revenues of $5.76 billion. Its adjusted revenues were $5.42 billion. The Zacks Consensus Estimate of revenues was $5.5 billion.
PACCAR Inc. Price, Consensus and EPS Surprise
PACCAR Inc. Price, Consensus and EPS Surprise | PACCAR Inc. Quote
Revenues from the Truck, Parts and Other segment increased to $5.42 billion in third-quarter 2018 from $4.73 billion in third-quarter 2017. The segment’s pre-tax income increased to $573.6 million from $502.2 million recorded a year ago.
Revenues from the Financial Services segment rose to $339.9 million from $328.2 million a year ago. Pre-tax income increased to $78.8 million from $70.6 million in the year-ago quarter.
PACCAR’s cash and marketable debt securities amounted to $3.79 billion as of Sep 30, 2018, compared with $3.62 billion as of Dec 31, 2017.
Class 8 Truck View
In the United States and Canada, Class 8 truck industry retail sales are anticipated to be 280,000-290,000 vehicles in 2018, up 31% from the 2017 figure. For 2019, this is anticipated to be 280,000-310,000 vehicles.
Zacks Rank & Key Picks
PACCAR currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. ALSN, AB Volvo VLVLY and Navistar International Corporation NAV. While both Allison Transmission and Volvo sport a Zacks Rank #1 (Strong Buy), Navistar has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 23.1%.
Volvo has an expected long-term growth rate of 15%. Over the past two years, shares of the company have risen 35.9%.
Navistar has an expected long-term growth rate of 5%. Over the past two years, shares of the company have risen 50.9%.
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