PACCAR Inc. PCAR earnings per share fell 36.57% year over year to $1.11, which beat the estimate of $0.95. Revenue of $4,538 billion declined by 24.42% from the same period last year, which beat the estimate of $4,410 billion.
PACCAR manufactures medium- and heavy-duty trucks under the Kenworth and Peterbilt brands, which are primarily sold in North America and Australia. Its DAF-branded trucks are sold in Europe and South America. The three brands have 2,200 independent dealers in 103 countries.
Kenworth and Peterbilt hold 29% of the Class 8 market share in North America and 17% of the heavy-duty market share in Europe. Consolidated revenue for 2019 was $25.6 billion, including $1.5 billion of financial-services revenue.
Shares of PACCAR moved higher by more than 5% in pre-market trading following the company report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.