PCAR Achieves 2Q Revenue Beat While Orders Extend Into 2020; Increasing FVE to $70
The strong North American economy and a protracted replacement cycle once again drove higher truck volumes, which allowed Paccar to sell 53,300 trucks during the quarter, representing a 13% increase year over year. Its manufacturing revenue during the period was $6.27 billion, which exceeded consensus estimates of $6.19 billion. Due to disproportionately more sales occurring in higher tax rate North American jurisdictions, EPS missed consensus of $1.82 by $0.04. In addition to raising its 2019 g...PACCAR is a multinational company operating in three principal industry segments: the Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks, which are configured with engine in front of cab or cab-over-engine; the Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles; and the Financial Services segment includes finance and leasing products and services provided to customers and dealers. The company's other business includes the manufacturing of industrial winches in two United States plants and marketing them under the Braden, Carco and Gearmatic nameplates.
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