Paccar Stock Earnings Reports

PACCAR reported solid Q1 2026 results driven by Parts and Financial Services and improving truck performance. Key Q1 metrics: revenues $6.8 billion, net income $605 million, PACCAR Parts revenue $1.7 billion with pretax income $402 million, and PACCAR Financial Services pretax income $116 million. Truck deliveries were 33,100 units in Q1 with an estimated 37,000–38,000 in Q2. PACCAR reiterated full-year market ranges: U.S./Canada 230k–270k, Europe (above 16t) 280k–320k, and South America (above 16t) 100k–110k. Company gross margin (truck, parts, other) rose to 13.1% in Q1 and is forecast around 13.5% in Q2 with further sequential improvement expected as build rates increase. PACCAR said it is essentially full on build slots for Q2 and majority full in Q3/Q4. Management expects parts growth of ~3% in Q2 and 3–6% for the full year. Planned investments: capital expenditures $725–775 million and R&D $450–500 million focused on flexible manufacturing, next-gen powertrains, autonomous platform, and connected services. Inventory at PACCAR is healthy (~2.8 months) versus industry levels, and management sees early signs of freight rate improvements and strengthening used-truck markets. Risks include raw material/energy price volatility and tariff pass-through timing.