Paccar Inc
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.06%.
Did PCAR Beat Earnings? Q2 2025 Results
PACCAR delivered a mixed second quarter, narrowly missing earnings expectations while topping revenue forecasts against a backdrop of softening freight demand. The heavy-truck maker earned $1.37 per diluted share on revenue of $7.51 billion, with EPS falling just 0.26% short of the $1.37 consensus while revenue came in 6.76% ahead of the $7.03 billion estimate, though both figures trailed year-ago results sharply, with revenue declining 14.4% from $8.77 billion in Q2 2024. The primary culprit was a weakened Truck segment, where revenues slid to $5.24 billion from $6.58 billion and pretax profit collapsed to $308.80 million from $837.30 million, as global deliveries fell to 39,300 units from 48,400 a year prior, pressured by economic uncertainty, tariff headwinds, and a sluggish truckload market. PACCAR Parts provided an offset, posting quarterly revenues of $1.72 billion. Looking ahead, PACCAR projects full-year capital expenditures of $750 to $800 million and guides for U.S. and Canada Class 8 industry sales of 230,000 to 260,000 units, even as layoffs at certain manufacturing facilities underscore the cautious near-term demand environment.
- PACCAR Parts achieved record quarterly revenues of $1.72 billion
- PACCAR Financial Services benefited from improving used truck market
- Kenworth and Peterbilt achieved 30.4% U.S. and Canada Class 8 market share in H1 2025
- Growing number of PACCAR trucks with PACCAR powertrains in operation supporting aftermarket business
“PACCAR achieved good revenues and net income in the second quarter of 2025. Peterbilt, Kenworth and DAF delivered good results, PACCAR Parts delivered record quarterly revenue and strong profits, and PACCAR Financial Services achieved very good results. I am very proud of our employees and dealers who delivered outstanding trucks and transportation solutions to our customers.”
Paccar CEO, on the earnings call
Forward Guidance & Outlook
PACCAR estimates U.S. and Canada Class 8 truck industry retail sales in a range of 230,000-260,000 trucks in 2025. European truck industry registrations in the above 16-tonne segment are estimated at 270,000-300,000 vehicles. The South American above 16-tonne truck market is estimated at 90,000-100,000 units. Capital expenditures are projected in the range of $750-$800 million and R&D expenses are estimated at $450-$480 million for 2025. The North American truck market is being affected by economic conditions, uncertain tariff impacts, and a soft truckload market, though demand in less-than-truckload and vocational segments including construction remains good.
PCAR YoY Financials
PCAR Revenue by Segment
PCAR Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.