PACCAR (NASDAQ:PCAR) reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
PACCAR announced earnings per share of $1.03 on revenue of $4.78B. Analysts polled by anticipated EPS of $1.22 on revenue of $4.99B. That with comparison to EPS of $1.81 on revenue of $6.14B in the same period a year before. PACCAR had reported EPS of $1.53 on revenue of $5.71B in the previous quarter. Analysts are expecting EPS of $0.81 and revenue of $3.87B in the upcoming quarter.
PACCAR shares are down 15% from the beginning of the year , still down 18.30% from its 52 week high of $82.25 set on November 27, 2019. They are under-performing the NASDAQ 100 which is down 0.86% year to date.
PACCAR follows other major Consumer Cyclical sector earnings this month
PACCAR's report follows an earnings missed by Nike on March 24, who reported EPS of $0.53 on revenue of $10.1B, compared to forecasts EPS of $0.59 on revenue of $9.81B.
Snap-On had missed expectations on Tuesday with first quarter EPS of $2.6 on revenue of $852.2M, compared to forecast for EPS of $2.74 on revenue of $882.69M.
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