Analyst Consensus ?
ConsensusHold45 ratings
Bullish1431.1%
Neutral2862.2%
Bearish36.7%
PACCAR Inc · PCAR · FY2026 Q1 · Calendar Q2 2026
PACCAR Q1 2026: EPS Meets Estimates, Revenue Misses as Margins Expand
PACCAR's FY2026 Q1 results present a mixed picture: EPS landed exactly at the $1.15 consensus, but revenue of $6.23B missed estimates by 3.2%. The shortfall drove a sharp negative market reaction (-5.97% vs. SPY -0.49% on 2.3x baseline volume), followed by a further 6.1% drift lower. Despite the top-line miss, the operational story remains intact -- gross margins expanded to 13.1% with guidance toward 13.5% in Q2, build slots are fully allocated through Q2 and majority-filled for H2, and the Parts and Financial Services businesses continue to deliver record-level performance. The bullish score declined to 78 from 85 in the prior quarter, reflecting the revenue miss and softer near-term demand signals, though management tone stayed confident and guidance was maintained. The stock currently trades at $137.89, above the analyst consensus target of $126.00, suggesting the market had…
Reported Before market openNASDAQIndustrials
$72.74B market cap
100quality score
Company context
Snapshot as of publicationPACCAR Inc is a global leader specializing in the design, production, and distribution of commercial trucks, covering light, medium, and heavy-duty classes. Its market reach extends across the United States, Europe, Mexico, South America, Australia, and other international territories. The company's operations are divided into three principal segments: Truck, Parts, and Financial Services. The Truck division focuses on engineering, manufacturing, and supplying vehicles tailored for both long-distance highway travel and challenging off-highway applications, primarily for hauling commercial and consumer goods. These vehicles are sold worldwide through an expansive network of independent dealerships, prominently featuring the Kenworth, Peterbilt, and DAF brands. The Parts segment is dedicated to supplying aftermarket components for its trucks and associated commercial vehicles.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.15
Consensus $1
EPS surprise
0.0%
Reported versus consensus
Reported revenue
$6.23B
Consensus $6.44B
Revenue surprise
-3.2%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$134.72Current
$42.22Low
$94.13Average
$147High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 17, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 13, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jul 2, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Apr 30, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Apr 29, 2026 |
| Freedom Broker | Hold | Buy | Downgrade | Mar 26, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Feb 23, 2026 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Oct 22, 2025 |
| UBS | Neutral | Neutral | Maintain | Oct 22, 2025 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | May 8, 2025 |
| B of A Securities | Buy | Buy | Maintain | Jan 29, 2025 |
| Jefferies | Hold | Buy | Downgrade | Dec 6, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Jul 24, 2024 |
| Goldman Sachs | Neutral | Neutral | Maintain | Apr 16, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | Jul 26, 2023 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jul 20, 2023 |
| Argus Research | Hold | Buy | Downgrade | May 2, 2023 |
| BMO Capital | Market Perform | Market Perform | Maintain | Apr 27, 2023 |
| Exane BNP Paribas | Neutral | Underperform | Upgrade | Nov 29, 2022 |
| Vertical Research | Hold | Buy | Downgrade | Aug 17, 2022 |
| Bernstein | Outperform | Market Perform | Upgrade | Dec 22, 2021 |
| Piper Sandler | Neutral | Overweight | Downgrade | May 12, 2020 |
| Cowen & Co. | Market Perform | Underperform | Upgrade | Mar 9, 2020 |
| Bank of America | Buy | Neutral | Upgrade | Nov 14, 2019 |
| Buckingham Research | Neutral | Neutral | Maintain | Oct 23, 2019 |
| Buckingham | Neutral | Neutral | Maintain | Oct 23, 2019 |
| OTR Global | Negative | Mixed | Downgrade | Oct 9, 2019 |
| Loop Capital | Sell | Hold | Downgrade | Jul 2, 2019 |
| Longbow Research | Neutral | Buy | Downgrade | May 6, 2019 |
| Baird | Outperform | Neutral | Upgrade | Feb 7, 2019 |
| PiperJaffray | Overweight | Neutral | Upgrade | Oct 24, 2018 |
| Argus | Hold | Buy | Downgrade | Oct 24, 2018 |
| Mizuho | Neutral | Neutral | Maintain | Jun 29, 2018 |
| Macquarie | Outperform | Neutral | Upgrade | Jun 5, 2018 |
| Susquehanna | Neutral | Neutral | Maintain | Nov 29, 2017 |
| Stifel Nicolaus | Hold | Hold | Maintain | Oct 25, 2017 |
| Stifel | Hold | Hold | Maintain | Oct 25, 2017 |
| Seaport Global | Neutral | Buy | Downgrade | Oct 25, 2017 |
| Barclays | Underweight | Underweight | Maintain | Oct 12, 2016 |
| CLSA | Outperform | Outperform | Maintain | Sep 30, 2016 |
| ISI Group | Buy | Buy | Maintain | Feb 24, 2014 |
| McAdams Wright Ragen | Hold | Sell | Upgrade | Nov 1, 2013 |
| DA Davidson | Buy | Buy | Maintain | Apr 23, 2013 |
| BB&T Capital | Hold | Hold | Maintain | Dec 19, 2012 |
| Bank oferica | Buy | Buy | Maintain | Apr 3, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $134.72. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $131 | $121.24 | -2.8% | Jul 2, 2026 |
| Evercore ISI | Analyst unavailable | $139 | $112.87 | +3.2% | May 11, 2026 |
| Truist Financial | Analyst unavailable | $126 | $119.57 | -6.5% | Apr 29, 2026 |
| Wells Fargo | Jerry Revich | $125 | $119.61 | -7.2% | Apr 29, 2026 |
| Morgan Stanley | Analyst unavailable | $109 | $126.61 | -19.1% | Feb 3, 2026 |
| Bernstein | Chad Dillard | $138 | $123.02 | +2.4% | Jan 28, 2026 |
| Wells Fargo | Jerry Revich | $119 | $123.56 | -11.7% | Jan 23, 2026 |
| Bernstein | Chad Dillard | $125 | $110.1 | -7.2% | Dec 5, 2025 |
| Wells Fargo | Analyst unavailable | $106 | $96.55 | -21.3% | Nov 13, 2025 |
| Truist Financial | Jamie Cook | $108 | $100.84 | -19.8% | Oct 22, 2025 |
| UBS | Analyst unavailable | $103 | $99.85 | -23.5% | Oct 22, 2025 |
| Morgan Stanley | Analyst unavailable | $90 | $99.48 | -33.2% | Oct 21, 2025 |
| Jefferies | Stephen Volkmann | $90 | $99.46 | -33.2% | Oct 21, 2025 |
| Wolfe Research | Analyst unavailable | $86 | $100.63 | -36.2% | Oct 21, 2025 |
| Truist Financial | Jamie Cook | $97 | $96.68 | -28.0% | Oct 8, 2025 |
| Evercore ISI | David Raso | $114 | $98.38 | -15.4% | Aug 19, 2025 |
| UBS | Steven Fisher | $100 | $101 | -25.8% | Jul 23, 2025 |
| UBS | Steven Fisher | $108 | $92.36 | -19.8% | Apr 7, 2025 |
| Melius Research | Analyst unavailable | $120 | $100.21 | -10.9% | Mar 18, 2025 |
| Evercore ISI | David Raso | $129 | $92.86 | -4.2% | Nov 13, 2024 |
| Goldman Sachs | Jerry Revich | $121 | $104.79 | -10.2% | Oct 23, 2024 |
| Citigroup | Kyle Menges | $110 | $104.79 | -18.3% | Oct 23, 2024 |
| Truist Financial | Jamie Cook | $103 | $102.8 | -23.5% | Oct 9, 2024 |
| Deutsche Bank | Nicole Deblase | $109 | $95.3 | -19.1% | Jul 24, 2024 |
| Morgan Stanley | Angel Castillo | $147 | $117.71 | +9.1% | Apr 15, 2024 |
| RBC Capital | Nick Housden | $123 | $123.4 | -8.7% | Mar 26, 2024 |
| UBS | Steven Fisher | $136 | $118.33 | +1.0% | Mar 15, 2024 |
| Truist Financial | Jamie Cook | $117 | $115.97 | -13.2% | Mar 13, 2024 |
| Jefferies | Stephen Volkmann | $115 | $87.56 | -14.6% | Jul 17, 2023 |
| Morgan Stanley | Analyst unavailable | $43.26 | $48.68 | -67.9% | Feb 7, 2023 |
| BMO Capital | Analyst unavailable | $44.44 | $48.58 | -67.0% | Feb 1, 2023 |
| Credit Suisse | Analyst unavailable | $46.67 | $44.92 | -65.4% | Jan 12, 2023 |
| Raymond James | Analyst unavailable | $53.33 | $43.8 | -60.4% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $60.44 | $45.43 | -55.1% | Dec 14, 2022 |
| BNP Paribas | Miguel Borrega | $44.44 | $46.34 | -67.0% | Nov 29, 2022 |
| Credit Suisse | Analyst unavailable | $46.22 | $39.02 | -65.7% | Jul 27, 2022 |
| Morgan Stanley | Analyst unavailable | $36 | $39.02 | -73.3% | Jul 27, 2022 |
| Raymond James | Analyst unavailable | $44.44 | $38.65 | -67.0% | Jul 27, 2022 |
| Raymond James | Felix Boeschen | $42.22 | $37.35 | -68.7% | Jul 19, 2022 |
| Morgan Stanley | Analyst unavailable | $33.33 | $35.75 | -75.3% | Jul 18, 2022 |
| Credit Suisse | Analyst unavailable | $50.22 | $37.25 | -62.7% | Apr 27, 2022 |
| Raymond James | Analyst unavailable | $46.67 | $37.35 | -65.4% | Apr 27, 2022 |
| Credit Suisse | Jamie Cook | $50.67 | $41.72 | -62.4% | Jan 26, 2022 |
| Raymond James | Felix Boeschen | $48 | $41.57 | -64.4% | Jan 26, 2022 |
| UBS | Steven Fisher | $41.78 | $41.57 | -69.0% | Jan 26, 2022 |
| Bernstein | Chad Dillard | $43.56 | $37.32 | -67.7% | Dec 22, 2021 |
| BMO Capital | Joel Tiss | $42.22 | $39.15 | -68.7% | Nov 23, 2021 |
| Citigroup | Timothy Thein | $44.44 | $36.24 | -67.0% | Oct 12, 2021 |
Track every rating change on PCAR the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-6.0%
Event window
SPY move
-0.5%
Same window
Abnormal move
-5.5%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
-6.1%
Up to 20 sessions
PCARSPY benchmark
Follow PCAR with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeTranscript intelligence
What changed
EPS matched the $1.15 consensus with zero surprise, while revenue of $6.23B fell 3.2% below the $6.44B estimate -- a shift from the prior quarter's beat. Gross margin improved to 13.1% (Q2 guided to ~13.5%). Truck deliveries were 33,000 units in Q1 with Q2 guidance of 37,000-38,000. Parts revenue held strong at $1.7B. The stock fell 5.97% on the report (benchmark SPY down only 0.49%), on 2.3x normal volume, and drifted an additional 6.1% lower in subsequent sessions. The bullish score declined from 85 (prior quarter) to 78, and capex outlook shifted from stable to increasing with $725-775M capex and $450-500M R&D announced. New EV awards were highlighted: DAF XF/XD electric trucks won International Truck of the Year 2026.
Guidance delta
Management maintained overall guidance, consistent with the prior quarter's maintained stance. New specifics were provided: Q2 truck delivery guidance of 37,000-38,000 units, with build slots fully allocated for Q2 and majority-filled for Q3 and Q4. Capex outlook shifted from stable to increasing, with $725-775M in capital investment and $450-500M in R&D committed for the year. Gross margin is guided to rise to approximately 13.5% in Q2 from 13.1% in Q1 as build rates increase and higher volumes offset raw-material cost pressure. Parts growth guidance of 4-8% carried forward from the prior quarter.
Key takeaways
- EPS of $1.15 matched consensus exactly, while revenue of $6.23B fell 3.2% short of the $6.44B estimate
- Gross margin improved to 13.1% in Q1, with management guiding to approximately 13.5% in Q2 as build rates accelerate
- Truck deliveries totaled 33,000 units in Q1; Q2 guidance of 37,000-38,000 units with build slots fully allocated signals robust demand
- Parts revenue reached $1.7B, continuing the record performance trend established in Q4 2025
- DAF XF/XD electric trucks won International Truck of the Year 2026 and Eco-Friendly Truck of the Year in Spain, reinforcing EV leadership in Europe
- Capex commitment of $725-775M and R&D of $450-500M underscore investment in autonomous platforms and next-generation powertrains
Management priorities
- Expanding EV product line across DAF, Kenworth, and Peterbilt brands including DAF XG/XG+ electric and medium-duty EVs
- Growing global parts distribution network and TRP store footprint
- Investing in autonomous vehicle platforms, advanced driver-assistance systems, and connected-vehicle services
- Ramping production capacity with additional shifts and hiring as build slots remain full
- Preparing for compliance with the 2027 35-mg NOx emissions standard
- Executing local-for-local manufacturing strategy to improve cost competitiveness and delivery times
Related earnings events
IndustrialsURI · FY2026 Q2 · Calendar Q3 2026United Rentals Q2: Record Revenue, Raised Guidance, and a Possible Investment-Grade UpgradeNSC · FY2026 Q2 · Calendar Q3 2026Norfolk Southern Beats on Volume Strength as Intermodal and Coal Drive Q2 GrowthHON · FY2026 Q2 · Calendar Q3 2026Honeywell Q2: Beat and Raise as Portfolio Reshaping Nears Completion
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-29T13:52:33.167790+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T13:52:33.164764+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.