EarningsQ2 2026 Earnings Report

Paccar (PAE) Q2 2026 Earnings Report

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Previous Report: Q1 2026

DE:PAE Q2 2026 EPS Results

Actual EPS€1.28

Consensus EPS€1.21

Beat/MissBeat by +€0.07

One Year Ago EPS€1.23

DE:PAE Q2 2026 Revenue Results

Actual Revenue€6.76B

Expected Revenue€6.31B

Beat/MissBeat by +€445.27M

YoY Revenue Growth+0.55%

Earnings Announcement Details

QuarterQ2 2026

Date07/28/2026

TimeBefore Open

Conference CallTuesday, July 28, 2026

DE:PAE Upcoming Earnings

Paccar's next earnings date is estimated for October 27, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

DE:PAE Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 28, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a largely positive operating momentum: record parts results, higher deliveries, expanding margins in key areas, and constructive macro indicators (freight rate increases and improving used truck markets). Management acknowledged manageable near-term headwinds—EPA rule uncertainty, supplier constraints, tariff considerations, and mix-related margin pressures—but framed these as contained risks with favorable positioning (local production, capital/R&D investments, and financial services strength) that should support a strong second half and 2027. Overall, positives outweigh the negatives.

Company Guidance

PACCAR guided to a strong second half of 2026 and provided numerous metrics: Q2 revenue was $7.5 billion and net income $752 million (up 24% sequentially); Q2 truck deliveries rose to 38,700 (from 33,000) and Q3 deliveries are estimated at ~42,000; U.S./Canada retail was 105,000 in H1 with H2 expected ~145,000 for a full‑year ~250,000; Europe (>16t) is projected at ~310,000 and South America at 100,000–110,000 units; PACCAR Parts posted a record Q2 revenue of $1.75 billion and pre‑tax income of $417 million with gross margins of 29.8% and fleet‑services revenue up 8% (parts sales growth for the full year estimated 3%–5%); truck gross margins (other) rose from 13.1% to 14.4% in Q2, with Q3 forecast ~14.5% and further improvement into Q4; PACCAR Financial Services pre‑tax income was $124 million; capital expenditures are planned at $700–750 million and R&D $450–480 million; EPA guidance allows sale of current engines next year with nonconformance penalties estimated at ~$6,000–$7,000 per truck (below the expected incremental cost of fully compliant 35 mg engines), and market fundamentals cited include spot rates up ~20% and contract rates up ~6.5%, all underpinning an expected excellent second half 2026 and a healthy 2027.

Strong Quarterly Financial Performance

Revenue of $7.5 billion and net income of $752 million in Q2; net income increased 24% sequentially from Q1.

Record PACCAR Parts Results

PACCAR Parts achieved record Q2 revenue of $1.75 billion and quarterly pre-tax income of $417 million; Parts gross margin expanded to 29.8%.

Improved Truck Deliveries and Production Ramp

Truck deliveries increased from 33,000 to 38,700 in Q2 (≈+17.3%); management expects Q3 deliveries of ~42,000 as build rates increase.

Solid Financial Services and Used Truck Strength

PACCAR Financial Services delivered robust pre-tax income of $124 million, supported by steady finance margins and strengthening used truck markets.

Positive Market Indicators and Demand Outlook

Management projects full-year U.S./Canada retail ~250,000 (105,000 in H1 and ~145,000 in H2); Europe 16t+ market ~310,000; South America 16t+ market 100,000–110,000. Spot freight rates up 20% and contract rates up 6.5%—supportive for customer economics and fleet purchasing.

Parts & Fleet Services Momentum

Revenue from PACCAR Parts fleet services grew 8% in Q2; company forecasts full-year parts sales growth of 3%–5% and expects stronger parts growth in H2 as truck utilization rises.

Clear Capital and R&D Investment Plan

Planned capital investments of $700M–$750M and R&D of $450M–$480M to support advanced manufacturing, next-generation engines, hybrid/electric powertrains, and connected services.

Operational Benefits from Local-for-Local Production

Management cited local-for-local production and tariff positioning as contributing to improved margins and reduced tariff exposure, with operating cost controls and warranty performance also driving profit per truck.

DE:PAE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 27, 2026	2026 (Q3)	1.44 / -	1.003	―
Jul 28, 2026	2026 (Q2)	1.21 / 1.28	1.227	4.38% (+0.05)
Apr 28, 2026	2026 (Q1)	1.03 / 1.03	1.307	-21.23% (-0.28)
Jan 27, 2026	2025 (Q4)	0.95 / 0.95	1.486	-36.14% (-0.54)
Oct 21, 2025	2025 (Q3)	1.03 / 1.00	1.656	-39.46% (-0.65)
Jul 22, 2025	2025 (Q2)	1.15 / 1.23	1.907	-35.68% (-0.68)
Apr 29, 2025	2025 (Q1)	1.41 / 1.31	2.032	-35.68% (-0.73)
Jan 28, 2025	2024 (Q4)	1.51 / 1.49	2.417	-38.52% (-0.93)
Oct 22, 2024	2024 (Q3)	1.63 / 1.66	2.095	-20.94% (-0.44)
Jul 23, 2024	2024 (Q2)	1.91 / 1.91	2.086	-8.58% (-0.18)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed