PACCAR Q3 Earnings Beat Estimates, Stock Dips Amid Lower Deliveries

PACCAR Inc. (NASDAQ:PCAR) shares are trading lower on Tuesday.

The company reported third-quarter earnings per share of $1.85, beating the street view of $1.82. Quarterly sales of $7.70 billion, beating the analyst consensus estimate of $7.65 billion.

PACCAR achieved net income of $972.1 million, compared to $1.23 billion in the same period last year.

Global truck deliveries in the quarter under review totaled 44,900 units, lower than 50,100 units in the year-ago period.

“Kenworth and Peterbilt’s strong 31.1% market share this year reflects the superior quality ...