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Paccar

Paccar (PCAR) Q2 2026 Earnings

Reported Jul 28, 2026 at 8:05 AM ET · SEC Source

Q2 26 EPS

$1.43

BEAT +5.39%

Est. $1.36

Q2 26 Revenue

$7.55B

BEAT +7.41%

Est. $7.03B

vs S&P Since Q2 26

-7.6%

TRAILING MARKET

PCAR -1.2% vs S&P +6.4%

Market Reaction

Did PCAR Beat Earnings? Q2 2026 Results

PACCAR Inc. Delivered a stronger-than-expected second quarter in 2026, posting earnings per share of $1.43 against a consensus estimate of $1.36, a beat of 5.39%, while revenue of $7.55 billion topped the $7.03 billion analyst expectation by 7.41% an… Read more PACCAR Inc. Delivered a stronger-than-expected second quarter in 2026, posting earnings per share of $1.43 against a consensus estimate of $1.36, a beat of 5.39%, while revenue of $7.55 billion topped the $7.03 billion analyst expectation by 7.41% and edged 0.5% higher year over year. The standout driver behind the quarter was a meaningful sequential recovery in truck segment profitability, with pretax profit climbing to $360.50 million from $308.80 million a year ago as improved freight rates and rising customer demand lifted build rates and supported pricing. Net income rose to $752.00 million from $723.80 million in Q2 2025, while PACCAR Parts contributed a record $1.75 billion in quarterly revenue. Analysts heading into the print had been watching closely whether production acceleration would translate into margin improvement; it did. Looking ahead, management cited a July 9 EPA emissions clarification as a potential catalyst for purchasing decisions in the second half of 2026 and into 2027, with full-year capital expenditures guided to $700.00 to $750.00 million.

Key Takeaways

  • • Increased build rates driven by strong customer orders
  • • Improved freight rates benefiting customers
  • • Record PACCAR Parts quarterly revenues of $1.75 billion
  • • Steady finance margins and improving used truck market for Financial Services
  • • Growing number of PACCAR trucks with PACCAR powertrains in operation

PCAR Forward Guidance & Outlook

U.S. and Canada Class 8 truck industry retail sales are estimated at 230,000–270,000 trucks in 2026, supported by higher freight rates from constrained industry freight capacity and aging fleet profiles. European truck industry registrations in the above 16-tonne segment are estimated at 290,000–330,000 vehicles in 2026. The South American above 16-tonne truck market is estimated at 100,000–110,000 trucks in 2026. Capital expenditures are projected at $700–$750 million and R&D expenses at $450–$480 million for 2026, with investments focused on next-generation clean diesel, hybrid and battery-electric powertrains, integrated connected vehicle services, and expanded manufacturing capabilities. The U.S. EPA's July 9 clarification of emissions regulations is expected to benefit customer purchasing decisions in the second half of 2026 and 2027. The improved North American freight market is expected to increase truck utilization, driving increased parts and service business.

24/7 Wall St

PCAR YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

PCAR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26
24/7 Wall St

PCAR Revenue by Geography

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“PACCAR achieved very good revenues and increased net income by 24% in the second quarter of 2026 compared to the preceding quarter. Build rates increased during the quarter due to strong orders as customers benefited from PACCAR's industry-leading trucks and improved freight rates. I am very proud of our employees and dealers who delivered these trucks and transportation solutions to our customers.”

— Preston Feight, Q2 2026 Earnings Press Release

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