Companies /Industrials

Paccar Inc

NASDAQ: PCAR Farm & Heavy Construction Machinery
$122.13
▼ $0.32 (−0.26%) today
Markets closed · 8:22am ET

Q1 2026 Earnings

Reported Apr 28, 2026, 8:05am ET · SEC source
$1.15
Miss −0.86%
EPS · est. $1.16
$6.8B
Beat +6.03%
Revenue · est. $6.4B
−14.0%
Trailing market
PCAR vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0Apr 28Apr 29report 8:05am ETearnings−0.3%−7.5%
−6%−3%0Apr 28Apr 29earnings−0.3%−7.5%
PCAR −7.5%S&P 500 −0.3%
−6%−3%0Apr 28Apr 29report 8:05am ETearnings+0.2%−7.5%
−6%−3%0Apr 28Apr 29earnings+0.2%−7.5%
PCAR −7.5%NASDAQ +0.2%
−8%−4%0Apr 27May 6report 8:05am ETearnings+2.5%−7.8%
−8%−4%0Apr 27May 6earnings+2.5%−7.8%
PCAR −7.8%S&P 500 +2.5%
−10%−5%0+5%Apr 27May 6report 8:05am ETearnings+4.9%−7.8%
−10%−5%0+5%Apr 27May 6earnings+4.9%−7.8%
PCAR −7.8%NASDAQ +4.9%
−5.97%
Day of report
−1.23%
Next session
−5.18%
One week
−7.73%
30 days

S&P 500 over the same 30 days: +6.29%.

Did PCAR Beat Earnings? Q1 2026 Results

PACCAR delivered a mixed first quarter for 2026, beating revenue expectations while falling just short on earnings, as softer truck volumes weighed on underlying performance. The Bellevue, Washington-based truckmaker posted revenue of $6.78 billion, exceeding the $6.39 billion consensus by 6.03%, though that figure still represented an 8.9% decline from the $7.44 billion recorded a year earlier. Earnings per diluted share came in at $1.15, narrowly missing the $1.16 consensus by 0.70%, and the comparison to Q1 2025's adjusted non-GAAP EPS of $1.46 underscores the real pressure on underlying operations, with global truck deliveries falling to 33,100 units from 40,100. The primary culprit was a sharp drop in truck segment sales to $4.53 billion from $5.23 billion, with U.S. and Canadian deliveries declining to 17,800 units. Analysts have broadly maintained a hold consensus on the stock, and PACCAR's own guidance reflects cautious optimism, with management pointing to a growing production backlog and projecting U.S. and Canadian Class 8 retail sales of 230,000 to 270,000 units for full-year 2026.

Key Takeaways
  • Strong PACCAR Parts and Financial Services results
  • Growth in truck businesses compared to Q4 2025
  • Increasing production backlog due to stronger demand
  • European truck deliveries increased year-over-year
  • Investment in parts distribution centers, TRP all-makes parts, and logistics capabilities

“PACCAR reported good revenues and increased net income in the first quarter of 2026 compared to the fourth quarter last year. These results were generated by strong PACCAR Parts and Financial Services results and growth in the truck businesses. PACCAR's production backlog is increasing due to stronger demand. I am very proud of our employees and dealers who have delivered outstanding trucks and transportation solutions to our customers.”

Paccar CEO, on the earnings call

Forward Guidance & Outlook

PACCAR's production backlog is increasing due to stronger demand. U.S. and Canada Class 8 truck industry retail sales are estimated to be in a range of 230,000-270,000 trucks in 2026. European truck industry registrations for the above 16-tonne market are projected to be 280,000-320,000 trucks. The South American above 16-tonne truck market is projected at 100,000-110,000 trucks. Capital expenditures are projected to be $725-$775 million and R&D expenses are estimated at $450-$500 million in 2026, with investments focused on next-generation internal combustion, hybrid and battery-electric powertrains, integrated connected vehicle services, expanded manufacturing capabilities, and the PACCAR autonomous vehicle platform.

PCAR YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$3.0B$6.0B$7.4B$6.8BRevenue$1.3B$817.8MGross Profit$505.1M$605.3MNet Income
$0$3.0B$6.0BRevenueGross ProfitNet Income

PCAR Revenue by Segment

Truck$4.5B−13.4%
PACCAR Parts$1.7B
Parts
PACCAR Financial Services$542.2M
Financial Services

PCAR Revenue by Geography

North America
United States$4.1B−12.4%
Europe$1.8B+15.3%
Rest of World$915.8M−26.5%

Figures from SEC filings and company reports. Not investment advice.