PACCAR Earnings: Here’s Why Investors are Excited Now
PACCAR Inc. (NASDAQ:PCAR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.41%.
PACCAR Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 1.2% to $0.82 in the quarter versus EPS of $0.83 in the year-earlier quarter.
Revenue: Decreased 9.99% to $4.01 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: PACCAR Inc. reported adjusted EPS income of $0.82 per share. By that measure, the company beat the mean analyst estimate of $0.75. It beat the average revenue estimate of $3.93 billion.
Quoting Management: “PACCAR (NASDAQ:PCAR) reported good revenues and net income for the second quarter of 2013,” said Mark Pigott, chairman and chief executive officer. “PACCAR’s second quarter results reflect the benefits of gradually improving truck sales and strong aftermarket parts and financial services results worldwide. I am very proud of our 22,000 employees who have delivered excellent results to our shareholders and customers.”
Key Stats (on next page)…
Revenue increased 10.49% from $3.63 billion in the previous quarter. EPS increased 22.39% from $0.67 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.82 to a profit $0.81. For the current year, the average estimate has moved down from a profit of $3.14 to a profit of $3.13 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)