PACCAR Inc. (NASDAQ:PCAR) , the leading manufacturer of heavy-duty trucks in the world, delivered adjusted earnings of $1.18 per share in the fourth quarter of 2017, surpassing the Zacks Consensus Estimate of $1.12. Moreover, earnings were also higher than year-ago figure of 82 cents.
Revenues
PACCAR posted quarterly consolidated net sales and revenues of revenue of $5.45 billion. Its revenue from the Truck, Parts and Other segment was $5.12 billion. The Zacks Consensus Estimate of revenue was $4.8 billion.
Estimate Trend & Surprise History
PACCAR has beaten the Zacks Consensus Estimate in two of the trailing four quarters with an average beat of around 1.5%. 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). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
We have highlighted some of the key stats from this Washington-based truck manufacturer’s earnings announcement below:
Key Stats/Developments to Note
In 2017, retail sales of Class 8 truck in the United States and Canada were 218,000 units, up from the 2016 figure of 216,000. Demand for truck is rising on account of strong economic growth, higher consumer spending, and heightened commercial and residential construction activities. The company anticipates 2018 Class 8 truck industry retail sales to increase to a range of 235,000-265,000 trucks.
Check back later for our full write up on PACCAR’s earnings report!
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PACCAR Inc. (PCAR): Free Stock Analysis Report
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