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.

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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