Why Paccar Stock Slipped on Tuesday
Paccar (NASDAQ: PCAR) published its fourth-quarter and full-year 2024 results Tuesday morning, and investors didn't seem too impressed by its performance. As a result, the storied truck maker's stock fell by more than 2% in price on the day. This did not compare favorably to the 0.9% gain of the bellwether S&P 500 index.
For the quarter, Paccar's total revenue was just over $7.9 billion, representing a notable come-down from the nearly $9.1 billion in the same period of 2023. Net income was also significantly lower, as it landed at $872 million ($1.66 per share) from the year-ago profit of $1.4 billion.
While Paccar beat the average analyst estimate of nearly $7.6 billion for revenue, it fell a bit short of that for profitability. Collectively, the pundits tracking its stock were modeling per-share net income of $1.70.
Source Fool.com
