PACCAR Inc (PCAR) released its first quarter results on Wednesday, April 28, 2021. The company reported net earnings of $1.35 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 30 percent compared to the same period a year ago.
PACCAR Inc was founded in 1905 and is headquartered in Bellevue, Washington. PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates through three segments: Truck, Parts, and Financial Services.
PACCAR's revenue decreased 20 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 18.57% for the first quarter compared to the same period in the previous year, and operating margins increased to 10.08% over the same period. Net earnings for past trailing twelve months were $1409.1 million, down 33% from the prior year.
Moving on to the balance sheet, PACCAR’s cash levels dropped 15% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 32.59% this past year. The current ratio for PACCAR now stands at 1.33. The company increased shares outstanding by 0.43%.
Shares of PCAR are currently trading around $90.68. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 22.38 and price to book ratio of 2.95.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Thursday, April 29, 2021.