PACCAR's Q2 Earnings Surpass Street View

PACCAR Inc PCAR reported second-quarter FY22 sales growth of 22.6% year-on-year, to $7.16 billion, beating the consensus of $6.49 billion.
Net sales and revenues from Truck, Parts, and Other improved 25.9% to $6.8 billion.
Revenues from Financial Services fell 18.4% to $372.5 million.
Revenue from U.S. and Canada rose 21.8% Y/Y to $4.4 billion, and Europe grew 22.3% to $1.8 billion.
The company held $3.2 billion in cash and equivalents as of June 30, 2022. Cash provided by operating activities for six months totaled $1.1 billion.
EPS of $2.07 beat the analyst consensus of $1.81.
The company's board declared a regular quarterly cash dividend of $0.34 per share, payable on September 7, 2022, to stockholders of record on August 17, 2022.
Price Action: PCAR shares are trading higher by 1.00% at $86.89 on the last check Tuesday.

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