PACCAR (PCAR) To Report Q1 Earnings: What's In The Offing?
Zacks Investment Research | Apr 24, 2019 08:58AM ET
PACCAR Inc. (NASDAQ:PCAR) is scheduled to report first-quarter 2019 financial results on Apr 30, before the market opens. In the last reported quarter, the company delivered a positive earnings surprise of 5.1%. The company surpassed estimates in each of the trailing four quarters, the average beat being 7.6%.
Over the past year, shares of PACCAR have outperformed the industry it belongs to. The stock gained 9.7% against the industry’s decline of 2.1%.
Let’s see, how things shaped up for the upcoming announcement.
Factors Influencing This Quarter
Robust demand in the Class 8 truck industry in the United States and Canada is likely to have positive bearings on PACCAR’s first-quarter 2019 results. In fact, for 2019, Class 8 truck industry retail unit sale in the United States and Canada is anticipated to rise 285,000-315,000.
Moreover, a large number of Europe truck industry registrations above 16 tonnes, steady Europe economic growth and higher freight activity led to increased transport activity and truck demand, thereby brightening PACCAR’s soon-to-be-released quarter’s prospects.
For the quarter under review, the Zacks Consensus Estimate for truck deliveries in the United States and Canada is pegged at 30,118 units while for Europe the figure is 16,046. For 2019, PACCAR projects retail sale of 285,000-315,000 units for the Class 8 truck industry in the United States and Canada, and 319,000-320,000 units for Europe's more than 16-tonne market.
Earnings Whispers
Our proven model does not conclusively predict earnings beat for PACCAR this quarter. This is because a stock needs to have a positive Original post
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