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BELLEVUE, Wash. - PACCAR Inc. (NASDAQ:PCAR) reported first quarter earnings that fell short of analyst estimates, sending shares down 6% in trading following the release.
The truck manufacturer posted adjusted earnings per share of $1.46 for Q1 2025, missing the consensus estimate of $1.60. Revenue came in at $7.44 billion, surpassing expectations of $7.13 billion but down 14.9% from $8.74 billion in the same quarter last year.
PACCAR’s quarterly net income fell to $505.1 million, or $0.96 per diluted share, from $1.20 billion, or $2.27 per share, in Q1 2024. The results included a $264.5 million after-tax charge related to civil litigation in Europe. Excluding this charge, adjusted net income was $769.6 million.
"PACCAR reported good revenues and net income in the first quarter of 2025," said Preston Feight, chief executive officer. "Peterbilt, Kenworth and DAF delivered good results, PACCAR Parts delivered record revenue and strong profits, and PACCAR Financial Services achieved good results due to its high-quality portfolio."
The company’s Parts division saw record quarterly revenue of $1.69 billion, up slightly from $1.68 billion last year. However, pretax income for the segment declined to $426.5 million from $455.8 million in Q1 2024.
PACCAR expects U.S. and Canada Class 8 truck industry retail sales to be in the range of 235,000-265,000 trucks in 2025, citing uncertain economic conditions and the impact of new tariffs.
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