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Investing.com -- PACCAR Inc posted second-quarter earnings that beat Wall Street expectations while navigating through a weaker truck market condition.
Shares rose 2.25% to $93.50 in afternoon trading.
The maker of Peterbilt, Kenworth and DAF trucks reported earnings of $1.37 per share for the quarter, down from $2.13 a year ago but ahead of the $1.29 analysts were expecting.
Revenue fell to $7.51 billion from $8.77 billion last year, though it still came in above estimates of $7.03 billion.
Net income dropped to $723.8 million from $1.12 billion in the prior-year quarter, when demand and pricing conditions were stronger across the truck market.
PACCAR (NASDAQ:PCAR) said its parts and financial services divisions delivered strong performance in the quarter, with record sales from PACCAR Parts helping offset weaker trends in the broader truckload segment.
The company said there was a more challenging outlook for the North American truck market amid macroeconomic uncertainty, tariffs and a soft truckload sector.
However, it noted stable demand in vocational and less-than-truckload segments such as construction.
PACCAR said it continues to invest in new truck platforms, advanced manufacturing, and aftermarket technologies to support long-term growth.