Paccar Q1 revenue falls less than expected; says customer demand improving

PACCAR

28/04/2026 13:09

Overview

U.S. truck and parts maker's Q1 revenue fell yr/yr but beat analyst expectations

Adjusted EPS for Q1 was $1.46

Company cites strong parts and financial services results and truck business growth

Says customer demand improving despite fuel and other cost volatility, due to better understanding of emissions cost impact

Outlook

PACCAR projects 2026 capital expenditures of $725-$775 mln

Company estimates 2026 R&D expenses at $450-$500 mln

PACCAR sees U.S. and Canada Class 8 truck industry sales at 230,000-270,000 units in 2026

Result Drivers

PARTS AND FINANCIAL SERVICES - Co said strong results in PACCAR Parts and Financial Services segments contributed to Q1 performance

TRUCK BUSINESS GROWTH - Co cited growth in truck businesses and increasing production backlog due to stronger demand

IMPROVING TRUCK MARKET - Co said U.S. and Canada truck market saw a positive inflection as customers benefited from higher freight rates and improved demand

Company press release: ID:nBw91CjfWa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$6.78 bln
$6.47 bln (12 Analysts)
Q1 Adjusted EPS
$1.46
Q1 Net Income
$605.30 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 13 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the heavy machinery & vehicles peer group is "buy."

Wall Street's median 12-month price target for Paccar Inc is $125.00, about 1.7% below its April 27 closing price of $127.20

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)