For the second quarter, PACCAR (NASDAQ:PCAR) saw a rise in net income.
Earnings and Revenue The company experienced stronger-than-expected EPS and revenues. The company reported EPS of 83 cents a share versus the 82 cents a share estimate and revenues of $4.46 billion versus the $4.22 billion estimate. The estimates of 14 analysts ranged from profit of 72 cents to profit of 88 cents.
The company's net income for the quarter was $297.2 million. According to the reported number, this is up 24% from last year's levels. Revenue climbed 12.5% from $3.96 billion in the same period last year.
Company Fundamental Trends Last quarter marked the third in a row of rising net income. The company has averaged revenue growth of 49% over the past five quarters.
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by 11 cents in the first quarter, 12 cents in the fourth quarter of the last fiscal year and 7 cents in the third quarter of the last fiscal year.
Official Comment: "PACCAR reported increased revenues and net income for the second quarter of 2012," said Mark Pigott, chairman and chief executive officer. "PACCAR's second quarter results reflect the benefits of higher truck sales in North and South America and good financial services results worldwide as compared to the second quarter of 2011. The weak economic growth in the United States, coupled with the ongoing uncertainty in the Eurozone, could dampen truck orders for the remainder of 2012. I am very proud of our 23,000 employees who have delivered excellent results to our shareholders and customers."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.