PACCAR truck and parts margin drive Q3 results
Thomas Barwick


PACCAR (NASDAQ:PCAR) reports Q3 topline of $6.69B, up 41.1% Y/Y beating consensus by $40M.
Truck, Parts and Other gross margins of 14.9%.
Global truck deliveries of 44,400 units.
Parts revenues of $1.47B; Parts pretax income of $373.6M; Financial Services pretax income of $146.2M.
Manufacturing cash and marketable securities of $4.76B.
Cash generated from operations of $680.7M
Net income of $769.4M.
GAAP EPS of $2.21 beats consensus by $0.24.

âStrong industry truck utilization and increased freight tonnage is good for truck demand,â said Mike Dozier, PACCAR senior vice president. Customers are replacing older vehicles with the new fuel-efficient Kenworth and Peterbilt trucks. U.S. and Canada Class 8 truck industry retail sales are estimated to be in a range of 265,000-285,000 vehicles in 2022. Class 8 truck industry retail sales for 2023 are estimated to increase to a range of 260,000-300,000 vehicles.
Stock has Quant rating of Strong Buy with 4.85 rating.
Previously (Oct. 25): PACCAR GAAP EPS of $2.21 beats by $0.24, revenue of $6.69B beats by $40M