Paccar Stock Earnings Reports

PACCAR reported Q1 2026 revenue of $6.8 billion and net income of $605 million, driven by strong performance in PACCAR Parts ($1.7 billion revenue; $402 million pretax) and PACCAR Financial Services ($116 million pretax). Truck deliveries were 33,100 units in Q1 with an expected 37,000–38,000 in Q2. Management estimates the 2026 U.S. and Canadian truck market at 230k–270k units, Europe (above 16t) at 280k–320k, and South America (above 16t) at 100k–110k. Company-wide truck/parts gross margin expanded to 13.1% in Q1 with a forecast of ~13.5% in Q2 and further sequential improvement expected as global build rates increase. PACCAR highlighted EV product awards and new DAF/Kenworth models while noting adoption differences by region. Management said the supply chain and suppliers’ ability to ramp hiring/training are key to executing higher build rates; PACCAR is “full” in Q2 and majority full into Q3/Q4. Tariff impacts are described as moderate for PACCAR; the company expects forthcoming application/receipt of NSRP credits. PACCAR plans capital expenditures of $725M–$775M and R&D of $450M–$500M for 2026 to support manufacturing, next-gen powertrains, autonomous and connected-vehicle initiatives. Key investor takeaways: solid current profitability and parts/finance momentum, improving volume and margin outlook tied to rising build rates, limited near-term incremental supply-slot availability (company largely full in near term), and continued investment behind EVs and future technology.