PACCAR Q3 Earnings Beat Estimates, Stock Dips Amid Lower Deliveries
Portfolio Pulse from Nabaparna Bhattacharya
PACCAR Inc. reported Q3 earnings that beat estimates, with EPS of $1.85 and sales of $7.70 billion. Despite this, shares dipped due to lower truck deliveries compared to last year. The company plans significant investments in capital projects and R&D in 2025.
October 22, 2024 | 2:46 pm
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PACCAR Inc. reported Q3 earnings that exceeded expectations, with EPS of $1.85 and sales of $7.70 billion. However, shares fell by 5.98% due to a decline in truck deliveries compared to the previous year. The company plans to invest heavily in capital projects and R&D in 2025.
Despite beating earnings estimates, PACCAR's stock dipped due to a significant drop in truck deliveries, which is a critical metric for the company. The market reacted negatively to this decline, overshadowing the earnings beat. The planned investments indicate a focus on future growth, but the immediate impact is negative.
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