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 benefits from strong operating performance and sizeable market share in the U.S. and Canada. The company’s expansion plans and active capital deployment as well as rising European industry sales also inspire optimism.
However, PACCAR is likely to be affected competition in the commercial trucks market.
Estimate Trend & Surprise History
The Zacks Consensus Estimate for PACCAR for the fourth quarter has remained stable over the past month.
PACCAR has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters with an average beat of around 0.32%. 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 #3 (Hold), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this Washington-based truck manufacturer’s earnings announcement below:
Earnings
PACCAR delivered earnings of 82 cents per share in the fourth quarter of 2016 that missed the Zacks Consensus Estimate of 87 cents. Earnings were lower than 98 cents in the year-ago quarter.
Revenues
PACCAR recorded revenues of $3.77 billion, missing the Zacks Consensus Estimate of $3.88 billion and also lower than the year-ago revenues of $4.06 billion.
Key Stats/Developments to Note
PACCAR expects industry sales in the above 16-ton truck market in Europe to be 260,000–290,000 units in 2017.
Further, the estimate for Class 8 industry retail sales for the U.S. and Canada is 190,000-220,000 vehicles.
Market Reaction
PACCAR’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on PACCAR’s earnings report!
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