-=PACCAR (PCAR) reported earnings on Tue 22 Oct 2019 (b/o)

PACCAR beats by $0.11, reports revs in-line

Reports Q3 (Sep) earnings of $1.75 per share, $0.11 better than the S&P Capital IQ Consensus of $1.64; revenues rose 10.8% year/year to $6 bln vs the $5.97 bln S&P Capital IQ Consensus.

Class 8 truck industry retail sales for the U.S. and Canada are expected to be in a range of 310,000-320,000 vehicles in 2019, the second highest market in history. "Class 8 truck industry retail sales in 2020 for the U.S. and Canada are estimated to be in a range of 230,000-260,000 vehicles, a solid replacement vehicle market. Good U.S. economic growth, 50-year-low unemployment and strong consumer spending are generating freight tonnage growth of 4.2% this year," said Gary Moore, PACCAR executive vice president. "The superior operating performance of Peterbilt and Kenworth trucks enhances our customers' profitability."