Paccar: 2Q Earnings Snapshot
BELLEVUE, Wash. (AP) _ Paccar Inc. (PCAR) on Tuesday reported second-quarter earnings of $559.6 million.
The Bellevue, Washington-based company said it had net income of $1.59 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.
The truck maker posted revenue of $5.81 billion in the period. Its adjusted revenue was $5.47 billion, also topping Street forecasts. Seven analysts surveyed by Zacks expected $5.43 billion.
Paccar shares have decreased 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has decreased roughly 9 percent in the last 12 months.