Paccar: 2Q Earnings Snapshot
BELLEVUE, Wash. (AP) _ Paccar Inc. (PCAR) on Tuesday reported second-quarter earnings of $619.7 million.
The Bellevue, Washington-based company said it had profit of $1.78 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.
The truck maker posted revenue of $6.63 billion in the period. Its adjusted revenue was $6.27 billion, which beat Street forecasts. Three analysts surveyed by Zacks expected $6.03 billion.
Paccar shares have climbed 21% since the beginning of the year, while the Standard & Poor’s 500 index has risen 19%. The stock has risen 10% in the last 12 months.