PACCAR Beats On Q2 On Higher Truck Deliveries, Pioneering New Technologies For Aftermarket Business
Portfolio Pulse from Nabaparna Bhattacharya
PACCAR Inc. reported a 24.4% YoY increase in Q2 FY23 sales to $8.44 billion, beating the consensus of $8.23 billion. The company's Financial Services revenues rose 18.1% to $439.8 million. Global truck deliveries increased to 51,900 units from 46,900 units in the year-ago period. The company also announced an 8% increase in the regular quarterly cash dividend from $0.25 to $0.27 per share. Despite the positive report, PCAR shares are trading lower by 4.6%.
July 25, 2023 | 2:10 pm
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PACCAR reported strong Q2 FY23 results, beating sales consensus and increasing its dividend. However, its stock price is down.
PACCAR's strong Q2 results and increased dividend indicate a positive financial performance. However, the stock price is down, which could be due to market factors or investor sentiment not reflected in the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100