Paccar Inc. Q1 Profit Decreases, Misses Estimates

(RTTNews) - Paccar Inc. (PCAR) revealed earnings for first quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $505.1 million, or $0.96 per share. This compares with $1.195 billion, or $2.27 per share, last year.

Excluding items, Paccar Inc. reported adjusted earnings of $769.6 million or $1.46 per share for the period.

Analysts on average had expected the company to earn $1.59 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 16.1% to $6.913 billion from $8.235 billion last year.

Paccar Inc. earnings at a glance (GAAP) :

-Earnings: $505.1 Mln. vs. $1.195 Bln. last year. -EPS: $0.96 vs. $2.27 last year. -Revenue: $6.913 Bln vs. $8.235 Bln last year.