PACCAR (PCAR) To Report Earnings Tomorrow: Here Is What To Expect

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PACCAR (PCAR) To Report Earnings Tomorrow: Here Is What To Expect

Trucking company PACCAR (NASDAQ:PCAR) will be announcing earnings results tomorrow morning. Here’s what investors should know.

PACCAR met analysts’ revenue expectations last quarter, reporting revenues of $8.26 billion, down 2.1% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates.

Is PACCAR a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting PACCAR’s revenue to decline 7.8% year on year to $7.59 billion, a reversal from the 23.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.82 per share.

PACCAR Total Revenue
PACCAR Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PACCAR has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.9% on average.

With PACCAR being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for heavy machinery stocks. However, there has been positive investor sentiment in the segment, with share prices up 3.3% on average over the last month. PACCAR is up 11.3% during the same time and is heading into earnings with an average analyst price target of $110.15 (compared to the current share price of $110).

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