Q1 26 EPS
$1.15
MISS 0.86%
Est. $1.16
Q1 26 Revenue
$6.78B
BEAT +6.03%
Est. $6.39B
vs S&P Since Q1 26
-11.1%
TRAILING MARKET
PCAR -8.0% vs S&P +3.0%
Market Reaction
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, … Read more 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
PCAR 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, source: SEC Filings
PCAR Revenue by Segment
With YoY comparisons, source: SEC Filings
PCAR Revenue by Geography
With YoY comparisons, source: SEC Filings
“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.”
— Preston Feight, Q1 2026 Earnings Press Release
PCAR Earnings Trends
PCAR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PCAR EPS Trend
Earnings per share: estimate vs actual
PCAR Revenue Trend
Quarterly revenue: estimate vs actual
PCAR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $1.16 | $1.15 | -0.86% | $6.78B | +6.03% |
| Q4 25 BEAT FY | $1.05 | $1.06 | +0.95% | $6.82B | +51.41% |
| FY Full Year | $4.49 | $4.51 | +0.52% | $28.44B | +8.86% |
| Q3 25 BEAT | $1.08 | $1.12 | +3.70% | $6.67B | +11.05% |
| Q2 25 BEAT | $1.28 | $1.37 | +7.03% | $7.51B | +6.76% |
| Q1 25 MISS | $1.59 | $1.46 | -8.18% | $7.44B | +4.93% |