PACCAR Earnings: Revving Up the Engine

Miscellaneous | Wall St. Cheat Sheet | April 19, 2011 7:16 am

S&P 500 (NYSE:SPY) component PACCAR Inc. (NASDAQ:PCAR) reported net income above Wall Street’s expectations for the first quarter. PACCAR Inc. is a technology company that designs and manufactures light, medium and heavy duty commercial trucks and related aftermarket parts.

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PACCAR Earnings Cheat Sheet for the First Quarter

Results: Net income for the vehicles company rose to $193.3 million (53 cents/share) vs. $68.3 million (19 cents/share) YoY. A more than twofold rise from the year earlier quarter.

Revenue: Rose 43.5% to $3.04 billion YoY.

Actual vs. Wall St. Expectations: PCAR beat the mean analyst estimate of 49 cents/share. Estimates ranged from 38 cents per share to 62 cents per share.

Quoting Management: “PACCAR reported improved revenues and net income for the first quarter of 2011,” said Mark Pigott, chairman and chief executive officer. “PACCAR’s results…