PACCAR Q2 Earnings: Net Income Climbs 4% to $752M on $7.55B Revenue; Parts Business Sets Record
PCAR sits 45% above its 52-week low of $92.25.
Summary
PACCAR reported Q2 2026 earnings of $1.43 per share on revenue of $7.55 billion, beating consensus estimates. Record Parts revenue and an improving freight market support the outlook, while the EPA's recent emissions rule clarification provides a regulatory tailwind.
Key Events · Earnings and Guidance · PCAR
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Q2 Earnings Beat
Net income of $752.0 million ($1.43 per diluted share) exceeded the $723.8 million ($1.37 per share) reported in Q2 2025. Revenue of $7.55 billion was slightly above the prior-year period.
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Record Parts Revenue
PACCAR Parts achieved record quarterly revenues of $1.75 billion, with pre-tax income of $417.0 million, reflecting strong aftermarket demand and investments in distribution.
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Improving Truck Market Conditions
Management cited higher freight rates and an aging fleet as demand drivers. U.S. and Canada Class 8 retail sales are estimated at 230,000–270,000 units in 2026, with European registrations of 290,000–330,000 units.
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EPA Emissions Rule Clarification
On July 9, 2026, the EPA provided clarification of emissions regulations, which management expects will benefit customer truck purchasing decisions in the second half of 2026 and into 2027.
Analysis · PCAR · Manufacturing
A clean beat in Q2 2026 lifted net income 4% year-over-year to $752 million, while revenue edged up to $7.55 billion. The aftermarket business stood out, with the Parts segment posting record quarterly revenue of $1.75 billion. Management pointed to improving freight rates and an aging truck fleet as tailwinds, and the recent EPA emissions rule clarification removes a layer of regulatory uncertainty for customers. Operating cash flow reached $701 million, and the balance sheet remains fortress-like with $8.7 billion in cash and marketable securities. Full-year capex and R&D guidance of up to $1.23 billion signals continued investment in next-generation powertrains and manufacturing capacity.
At the time of this filing, PCAR was trading at $133.51 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $70.2B. The 52-week trading range was $92.25 to $134.27. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.