PACCAR CEO optimistic about growth despite the soft truck market, tariff concerns
Paccar Inc. (Nasdaq:PCAR) Shares rose sharply on Tuesday after truck makers reported Second Quarter Revenue Quarterly sales beat analyst expectations despite a slight missed estimate of quarterly sales over the previous year and lower overall revenue.
The company reported second quarter revenue per share of $1.37, beating analysts. Consensus estimates $1.34. Quarterly revenue was $6.969.6 billion, missing out on Street View at $6.979 billion.
Net sales and financial services revenues were $7.51 billion in the second quarter, compared to $8.77 billion in the second quarter.
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Investment revenue for the quarter under review fell to $83.9 million from $95.8 million the previous year.
“PACCAR’s investment in new trucks, including the DAF’s 2025 truck range, advanced manufacturing and technology-enabled aftermarket solutions, will support the growth of our customers and our company.” Preston Fatechief executive officer.
The company had concluded the quarter with $8.279 billion worth of cash and marketable securities, down below $9.649 billion as of December 31, 2024.
“The North American truck market is affected by the economic situation, uncertain impact of tariffs and the soft truck market. The demand for customers in the sub-Truck Road and occupational segments, including construction, is good,” Feight added.
According to Gasoline ProPCAR stocks have lost more than 11% in the past year. Investors may be exposed to stocks via ISHARES Trust ISHARES US ManufacturingETF (NYSE:I made it).
Price Action: PCAR stocks are trading at $97.19, up 4.65% in its final check on Tuesday.
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