Summary
PACCAR Inc reported a solid first quarter for 2026, demonstrating resilience despite a challenging market environment. Net income increased to $605.3 million ($1.15 per diluted share) from $505.1 million ($0.96 per diluted share) in the prior year quarter. This improvement was driven by strong performance in the Parts segment and an increase in Financial Services revenues, even as truck revenues saw a decline due to lower unit deliveries. The company navigated macroeconomic headwinds, including inflationary pressures and evolving market demands for electric vehicles. The Truck segment experienced a decrease in revenues and income before taxes, largely attributable to a 17% reduction in worldwide new truck deliveries. However, PACCAR maintained its heavy-duty truck market share in the U.S. and Canada. The company also provided a cautious outlook for truck industry sales in 2026, anticipating a slight decrease in the U.S. and Canada and South America, while expecting stable registrations in Europe.
Financial Highlights
36 data points| Revenue | $6.78B |
| Cost of Revenue | $5.42B |
| Gross Profit | $1.36B |
| R&D Expenses | $109.10M |
| SG&A Expenses | $189.30M |
| Net Income | $605.30M |
| EPS (Basic) | $1.15 |
| EPS (Diluted) | $1.15 |
| Shares Outstanding (Basic) | 526.70M |
| Shares Outstanding (Diluted) | 527.40M |
Key Highlights
- 1Net income increased by 19.8% to $605.3 million ($1.15 per diluted share) in Q1 2026, up from $505.1 million ($0.96 per diluted share) in Q1 2025.
- 2Worldwide net sales and revenues decreased by 8.9% to $6.78 billion, primarily due to a 13% decline in truck revenues, partially offset by growth in Parts and Financial Services revenues.
- 3Truck segment income before taxes fell 52% to $176.2 million, impacted by lower unit deliveries and increased tariff costs.
- 4Parts segment sales increased by 1% to $1.71 billion, with income before taxes at $402.3 million.
- 5Financial Services revenues grew 2.7% to $542.2 million, though income before taxes slightly decreased by 4.6% to $115.5 million, impacted by higher provision for losses.
- 6The company's investment in the U.S.-based battery joint venture, Amplify Cell Technologies, is proceeding with adjusted timing for manufacturing capacity installation.
- 7PACCAR maintains a strong liquidity position with $5.64 billion in cash and cash equivalents and $3.21 billion in marketable securities as of March 31, 2026.