Paccar Q2 Results Up

Truck manufacturing company PACCAR Inc.(PCAR) recorded higher earnings in the second quarter, helped by strong industry truck utilization, improved e-commerce business and strong used truck demand. The quarterly results beat the market expectations.

The company posted second-quarter net income of $492.9 million or $1.41 per share, higher than $147.7 million or $0.43 per share in the same period last year.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $1.39 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Net sales and revenues climbed to $5.84 billion from $3.06 billion a year ago, while analysts were looking for revenues of $5.51 billion in the quarter.

Global truck deliveries rose to 40,100 units from 18,100 units in the prior-year period.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT