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Paccar (PCAR) Q3 Earnings and Revenues Top Estimates
PACCARPACCAR(US:PCAR) ZACKSยท2024-10-22 14:35

Company Performance - Paccar reported quarterly earnings of $1.85 per share, exceeding the Zacks Consensus Estimate of $1.82 per share, but down from $2.34 per share a year ago, representing an earnings surprise of 1.65% [1] - The company posted revenues of $7.7 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.80%, but down from $8.23 billion year-over-year [1] - Over the last four quarters, Paccar has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [1] Future Outlook - The sustainability of Paccar's stock price movement will depend on management's commentary during the earnings call and the company's earnings outlook [2][3] - The current consensus EPS estimate for the coming quarter is $1.81 on revenues of $7.57 billion, and for the current fiscal year, it is $8.08 on revenues of $31.81 billion [4] - The estimate revisions trend for Paccar is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Automotive - Domestic industry, to which Paccar belongs, is currently in the bottom 27% of over 250 Zacks industries, which may impact stock performance [5] - Rivian Automotive, another company in the same industry, is expected to report a quarterly loss of $0.88 per share, with revenues projected to be $968.3 million, down 27.6% from the previous year [5]