Yahoo Finance PACCAR (PCAR) to Report Q1 Earnings: Here's What to Expect
PACCAR PCAR is slated to release first-quarter 2024 results on Apr 30, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share and revenues is pegged at $2.17 and $8.08 billion, respectively.
For the first quarter of 2024, the consensus estimate for PACCAR’s earnings per share has increased 2 cents in the past seven days. Its bottom-line estimates imply a decline of 3.56% from the year-ago reported number. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year increase of 0.41%.
PCAR beat on earnings in each of the trailing four quarters, the average surprise being 17.07%. This is depicted in the graph below:
PACCAR Inc. Price and EPS Surprise
PACCAR Inc. price-eps-surprise | PACCAR Inc. Quote
Q4 Highlights
In the fourth quarter of 2023, PACCAR recorded earnings of $2.70 per share, which surpassed the Zacks Consensus Estimate of $2.20 and rallied 53.4% from the year-ago figure. Consolidated revenues (including trucks and financial services) came in at $9.1 billion, up from $8.1 billion in the corresponding quarter of 2022. Sales from Trucks, Parts and Others were $8.59 billion, which surpassed the Zacks Consensus Estimate of $8.19 billion.
Factors at Play
PACCAR is one of the leading names in the trucking business, with reputed brands like Kenworth, Peterbilt and DAF. Strong demand for DAF, Kenworth and Peterbilt trucks is likely to have boosted PCAR’s results in the quarter under discussion. We expect first-quarter 2024 pretax profit for the Truck segment to be $1 billion, up from $894.3 million reported in the year-ago period.
Continued growth in the aftermarket parts due to the rampant adoption of its proprietary MX engine bodes well. High truck utilization and increased average fleet age are expected to have positively impacted Parts’ results in the first quarter of 2024. Our projection for first-quarter revenues from the Parts segment is pegged at $1.69 billion, indicating a rise of 4.5% year over year. The estimate for pretax profit of the segment is pegged at $457.2 million, suggesting a rise from $438.6 million.
We expect revenues from the Financial Services segment to be around $470.4 million, implying a rise of 11% year over year. Improved performance across segments is likely to have bolstered the company’s performance in the to-be-reported quarter.
Earnings Whispers
Our proven model predicts an earnings beat for the trucking giant this season as well, as it has the right combination of the two key ingredients. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is the case here.
Earnings ESP: PACCAR has an Earnings ESP of +0.33%. This is because the Most Accurate Estimate is pegged higher than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PCAR currently sports a Zacks Rank #1.
Earnings Whispers for Other Auto Stocks
Lucid Group, Inc. LCID has an Earnings ESP of -8.00% and a Zacks Rank #3 at present. It is scheduled to post first-quarter earnings on May 6. The Zacks Consensus Estimate is pegged at a loss of 25 cents per share. You can see the complete list of today’s Zacks #1 Rank stocks here.
LCID missed on earnings in each of the trailing four quarters, the average negative surprise being 7.96%.
Rivian Automotive, Inc. RIVN has an Earnings ESP of -1.77% and a Zacks Rank #3 at present. The company is slated to post first-quarter earnings on May 7. The Zacks Consensus Estimate is pegged at a loss of $1.13 per share.
RIVN beat on earnings in each of the trailing four quarters, the average surprise being 13.82%.
Nikola Corporation NKLA has an Earnings ESP of 0.00% and a Zacks Rank #2 at present. The company is scheduled to post first-quarter earnings on May 7. The Zacks Consensus Estimate is pegged at a loss of 9 cents per share.
NKLA beat on earnings in three of the trailing four quarters and missed once, the average negative surprise being 11.24%.
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PACCAR Inc. (PCAR) : Free Stock Analysis Report
Nikola Corporation (NKLA) : Free Stock Analysis Report
Lucid Group, Inc. (LCID) : Free Stock Analysis Report
Rivian Automotive, Inc. (RIVN) : Free Stock Analysis Report
