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PACCAR INC 8-K Report, Financial Results (Apr 28, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed April 28, 2026
Period End
April 28, 2026
Security
PCAR
In the record · 2016–202610-K1110-Q328-K87

PCAR filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 87 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Sep ’16Sep ’16
  2. Leadership change8-K · Apr ’21Apr ’21
  3. Leadership change8-K · May ’25May ’25

01—Abstract

Summary

Summary of the 8-K filed April 28, 2026. Cited figures are marked; the original filing is the authoritative source.

PACCAR reported first-quarter 2026 consolidated revenue of $6.78 billiona, down about 9% from $7.44 billion a year earlier.

Net income rose to $605.3 millionb ($1.15 per diluted share) from $505.1 million ($0.96), but the prior-year figure included a $264.5 million after-tax charge for European civil litigation (EC-related claims). Excluding that charge, prior-year adjusted net income was $769.6 million ($1.46 per share), so underlying earnings declined by roughly 21%. Management described the quarter as showing sequential improvement and a positive inflection in the U.S. and Canada truck market, with production backlog rising on stronger demand.

The decline was concentrated in the truck business. Truck pretax income fell to $176.2 millionc from $364.9 million, and truck deliveries dropped 17.5% to 33,100 units from 40,100, driven by a 20% decline in U.S. and Canada deliveries. European deliveries grew about 8% to 11,200 units.

PACCAR Parts was steady, with revenue of $1.71 billiond (up slightly) and pretax income of $402.3 million (down from $426.5 million). PACCAR Financial Services pretax income was $115.5 million versus $121.1 million, although segment revenue rose to $542.2 million. Total pretax income increased to $776.3 million from $643.1 million, largely because the prior-year period carried the litigation charge.

The balance sheet remained strong, with stockholders' equity of $19.76 billion, up from $19.26 billion at year-end 2025. Operating cash flow was $971.8 million, and dividend payments fell sharply to $909.4 million from $1.75 billion a year earlier. Cash and marketable securities in the truck business declined to $8.60 billion from $9.25 billion.

For 2026, PACCAR guided to capital expenditures of $725-775 million and R&D of $450-500 million, and projected industry retail sales of 230,000-270,000 Class 8 trucks in U.S. and Canada, 280,000-320,000 above-16-tonne trucks in Europe, and 100,000-110,000 in South America. The release contains no new quantitative earnings guidance beyond these market and spending ranges.

02—Key points

Key Highlights

  1. Consolidated revenue of $6.78 billion, down about 9% year over year from $7.44 billion, while net income rose to $605.3 million ($1.15 per diluted share) from $505.1 million ($0.96).
  2. Prior-year net income included a $264.5 million after-tax EC-related litigation charge; against adjusted prior-year net income of $769.6 million ($1.46 per share), underlying earnings declined about 21%.
  3. Truck pretax income fell to $176.2 million from $364.9 million, and total truck deliveries declined 17.5% to 33,100 units, with U.S. and Canada deliveries down 20% to 17,800.
  4. European deliveries rose about 8% to 11,200 units, and management cited a positive inflection in the U.S. and Canada truck market and a rising production backlog.
  5. PACCAR Parts revenue reached $1.71 billion with pretax income of $402.3 million, slightly below the prior year's $426.5 million, while PACCAR Financial Services pretax income was $115.5 million versus $121.1 million.
  6. Operating cash flow was $971.8 million, and dividend payments dropped to $909.4 million from $1.75 billion, reflecting the absence of the prior-year's larger payout; stockholders' equity increased to $19.76 billion.
  7. 2026 outlook calls for capital expenditures of $725-775 million, R&D of $450-500 million, and industry retail sales of 230,000-270,000 Class 8 trucks in U.S. and Canada, 280,000-320,000 trucks above 16 tonnes in Europe, and 100,000-110,000 in South America.

03—Questions

Frequently Asked Questions

  1. Did PACCAR's earnings really improve in Q1 2026?

    Reported net income rose to $605.3 million from $505.1 million, but the prior-year figure included a $264.5 million after-tax European litigation charge. Excluding that charge, adjusted net income fell from $769.6 million to $605.3 million, a decline of about 21%, and revenue also fell about 9%.

  2. What drove the weakness in the truck segment?

    Truck pretax income dropped to $176.2 million from $364.9 million, mainly because deliveries fell 17.5% to 33,100 units. U.S. and Canada deliveries declined 20%, though European deliveries increased about 8% and the company reported improving customer demand and a growing production backlog.

  3. How is the parts and financial services business performing?

    PACCAR Parts remained resilient, with revenue up slightly to $1.71 billion and pretax income of $402.3 million, modestly below last year's $426.5 million. PACCAR Financial Services revenue rose to $542.2 million, but pretax income declined to $115.5 million from $121.1 million, partly due to higher provisions for losses on receivables ($44.1 million versus $18.3 million).

  4. How strong is PACCAR's balance sheet and cash position?

    Stockholders' equity increased to $19.76 billion from $19.26 billion at year-end 2025. Truck, parts and other cash and marketable securities declined to $8.60 billion from $9.25 billion, while operating cash flow of $971.8 million covered the quarter's capital spending and dividend payments.

  5. What does PACCAR expect for 2026?

    Management expects capital expenditures of $725-775 million and R&D expenses of $450-500 million in 2026. It also projects industry retail sales of 230,000-270,000 Class 8 trucks in the U.S. and Canada, 280,000-320,000 above-16-tonne trucks in Europe, and 100,000-110,000 in South America. The release does not include formal earnings or delivery guidance for the company.

04—Continue

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