Paccar Ltd (PCAR), the truck manufacturer, has topped earnings estimates for all of its previous four quarters. While the same did not happen this time around, as the company produced an EPS in-line with expectations, it did manage to top revenue estimates.
PCAR is a light, medium and heavy duty truck and engines manufacturer. The company sells its trucks to other dealers with nameplates of Kenworth, Peterbilt and DAF. During the past three months, analyst estimates for EPS had been brought down from 78 cents too 66 cents. The decline in both earnings and revenue figures paints a dirty picture for not only the company, but also for the overall truck manufacturer industry. The PCAR management itself admitted that truck orders had been weak from the North American and European markets.
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