Truck manufacturer's report
PACCAR released its fourth-quarter results on Tuesday, which beat analysts' estimates. The earnings figure exceeded forecasts.
PACCAR, which is owned by Zacks Automotive Domestic Industry, reported revenue of $6.3 billion for the quarter ended December 2021, beating the Zacks consensus estimate by 16.95%. This compares to annual revenues of $5.14 billion. The company has exceeded the consensus revenue forecast three times in the past four quarters. Analysts had projected earnings per share of $1.32 and total revenue of $5.45B.
PACCAR shares were up 1.26% trading at $92.30 in pre-market, according to the report.
PACCAR shares, up 3% this year, have performed better than overall according to the Nasdaq 100 index, down 11% since the beginning of the year.
IAA (IAA), another stock in the same industry, has not yet reported results for the quarter ending December 2021.
In addition, the Insurance Auto Auction is expected to generate a quarterly gain of $0.61 per share in the next quarterly report, a change of +27.1% compared to the same period last year. The consensus EPS forecast for the quarter is unchanged over the past 30 days.
IAA is expected to report revenue of $497.73 million, an increase of 29.8% from the year-ago quarter.
PACCAR Inc. is the third-largest heavy truck maker in the world after Daimler AG and Volvo Trucks. The company is headquartered in Bellevue, Washington.
