PACCAR (PCAR) Tops Q1 EPS by 12c, Sales Beat

PACCAR (NASDAQ: PCAR) reported Q1 EPS of $0.99, $0.12 better than the analyst estimate of $0.87. Revenue for the quarter came in at $4.24 billion versus the consensus estimate of $3.87 billion.

“PACCAR (Nasdaq: PCAR) reported good revenues and net income for the first quarter of 2017,” said Ron Armstrong, chief executive officer. “PACCAR benefited from increasing truck production in North America and Europe, as well as record quarterly PACCAR Parts pretax profits. I am very proud of our 23,000 employees who have delivered industry leading products and services to our customers.”

Ron Armstrong added, “PACCAR’s strong balance sheet and positive operating cash flow, which has averaged $2.3 billion per year in the last five years, have enabled the company to invest $3.1 billion in new facilities, products and services during the same period. New Kenworth, Peterbilt and DAF vehicles, an expanded PACCAR engine range, innovative PACCAR Parts aftermarket programs, advanced driver assistance systems (ADAS), and PACCAR Financial Services mobile applications are contributing to the company’s long-term growth.”

For earnings history and earnings-related data on PACCAR (PCAR) click here.

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