Email
Password
Remember meForgot password?
    Log in with Twitter
| Press Release

Free Research Report as PACCAR Announced Record Quarterly Sales and Deliveries

LONDON, UK / ACCESSWIRE / February 09, 2018 / Active-Investors.com has just released a free earnings report on PACCAR Inc. (NASDAQ: PCAR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PCAR. PACCAR reported its fourth quarter and fiscal 2017 operating and financial results on January 30, 2018. The truck maker's EPS soared 103.7% in Q4 2017, while it surpassed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, PACCAR most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=PCAR

Earnings Highlights and Summary

For the fourth quarter fiscal 2017, PACCAR achieved record quarterly net sales and financial service revenues of $5.45 billion compared to $4.07 billion for Q4 2016. The Company's reported numbers beat analysts' estimates of $4.84 billion.

For full year (FY) 2017, PACCAR achieved record revenues of $19.46 billion, reflecting growth of 14% compared to revenues of $17.03 billion in FY16.

During Q4 2017, PACCAR earned $589.2 million, or $1.67 per diluted share, including $173.4 million of net tax benefits resulting from recent changes to US tax law. The one-time net tax benefits included a reduction of net deferred tax liabilities of $304.0 million, partially offset by a tax on accumulated foreign earnings of $130.6 million. Excluding the one-time tax benefits, PACCAR reported non-GAAP net income of $415.8 million, or $1.18 per diluted share. The Company earned $288.8 million, or $0.82 per diluted share, in Q4 2016. PACCAR's earnings topped Wall Street's estimates of $1.12 per share.

For FY17, PACCAR reported earnings of $1.68 billion, or $4.75 per diluted share, including the $173.4 million od one-time tax benefit. The Company reported annual net income of $521.7 million, or 1.48 per diluted share in FY16, including an $833.0 million non-recurring charge for a European Commission (EC) settlement. Excluding the one-time tax benefit, and non-recurring charges, PACCAR reported non-GAAP earnings of $1.50 billion, or $4.26 per diluted share, for FY17 compared to non-GAAP net income of $1.35 billion, or $3.85 per diluted share, in FY16.

Delivery Details

During Q4 2017, PACCAR reported record quarterly worldwide deliveries of 44,300 trucks. In FY17, the Company delivered 158,900 vehicles worldwide, including a record 29,700 medium-duty trucks.

PACCAR's Class 8 truck industry retail sales in the US and Canada were 218,000 units in FY17 compared to 216,000 vehicles sold in FY16. The Company's Kenworth and Peterbilt trucks achieved record Class 8 retail market share of 30.7% in the US and Canada in FY17 compared to 28.5% in FY16.

During FY18, PACCAR's US and Canada Class 8 truck industry retail sales are expected to increase to a range of 235,000-265,000 trucks.

During FY17, PACCAR's European truck industry sales above 16-tonnes totaled 306,000 trucks. The Company is estimating European truck industry sales in the above 16-tonne market in FY18 to be in the range of 290,000-320,000 trucks.

PACCAR achieved excellent 2017 truck production and market share in Australia, Mexico, Taiwan, and Brasil, delivering 17,600 trucks in these markets and surrounding regions.

PACCAR's Segment Results

During Q4 2017, the aftermarket parts business saw a record $877.2 million compared to $765.0 million reported in Q4 2016. The business achieved record fourth quarter pre-tax income of $157.2 million, 14% higher than the $137.5 million earned in Q4 2016. The segment's annual revenues totaled $3.33 billion, 11% higher than revenues of $3.01 billion in FY16. The Company noted that the Parts business growth was driven by investments in distribution and technology, initiatives such as the TRP all-makes parts stores and a growing population of Kenworth, Peterbilt, and DAF trucks, powered by PACCAR engines.

During Q4 2017, Financial Services (PFS) reported revenues of $332.2 million compared to $303.7 million in Q4 2016. The business achieved pretax income of $72.5 million in the reported quarter compared to $77.9 million in the year earlier same quarter. PFS earned $264.0 million of pretax profit in FY17 on revenues of $1.27 billion compared to $306.5 million on revenues of $1.19 billion in FY16.

Cash Matters

As of December 31, 2017, PACCAR's cash and marketable securities totaled $3.62 billion compared to $2.92 billion as on December 31, 2016. The Company's cash provided by operations was $893.3 million in Q4 2017, while cash provided by operations totaled $2.72 billion for FY17.

During FY17, PACCAR declared cash dividends of $2.19 per share, including a special dividend of $1.20 per share paid in January 2018 compared to cash dividends of $1.56 per share declared in FY16.

Stock Performance Snapshot

February 08, 2018 - At Thursday's closing bell, PACCAR's stock fell 2.49%, ending the trading session at $66.98.

Volume traded for the day: 3.27 million shares, which was above the 3-month average volume of 2.16 million shares.

Stock performance in the previous six-month period – up 3.10%; and past twelve-month period – up 3.67%

After yesterday's close, PACCAR's market cap was at $24.24 billion.

Price to Earnings (P/E) ratio was at 14.11.

The stock has a dividend yield of 1.49%.

The stock is part of the Consumer Goods sector, categorized under the Trucks & Other Vehicles industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

Latest News
Top News