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Paccar Inc. Announces Decline In Q1 Earnings

Paccar Inc. (PCAR) reported a profit for first quarter that decreased from last year.

The company's bottom line came in at $359.4 million, or $1.03 per share. This compares with $629.0 million, or $1.81 per share, in last year's first quarter.

Analysts had expected the company to earn $1.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 22.1% to $4.78 billion from $6.14 billion last year.

Paccar Inc. earnings at a glance:

-Earnings (Q1): $359.4 Mln. vs. $629.0 Mln. last year.
-EPS (Q1): $1.03 vs. $1.81 last year.
-Analysts Estimate: $1.20
-Revenue (Q1): $4.78 Bln vs. $6.14 Bln last year.

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