PACCAR (NASDAQ: PCAR) reported Q1 EPS of $1.81, $0.16 better than the analyst estimate of $1.65. Revenue for the quarter came in at $6.49 billion versus the consensus estimate of $6.01 billion.

“PACCAR reported record revenues and net income for the first quarter of 2019,” said Ron Armstrong, chief executive officer. “PACCAR delivered a record quarterly number of trucks, driven by Kenworth, Peterbilt and DAF’s strong market share and robust global truck demand. PACCAR Parts achieved record quarterly revenues and pretax profits. I am very proud of our 28,000 employees who have delivered industry-leading products and services to our customers.”

“Our customers are profitable and benefiting from continued economic and freight growth in North and South America and Europe,” added Armstrong. “We expect 2019 to be another excellent year for PACCAR. Kenworth and Peterbilt’s 2019 build schedules are substantially full; DAF is increasing market share in the European market; and the South American above 16-tonne truck market is expected to increase approximately 25% in 2019 compared to last year.”

• Record consolidated net sales and revenues of $6.49 billion.
• Record net income of $629.0 million.
• Record global truck deliveries of 51,500 units.
• Record PACCAR Parts revenues of $1.00 billion and pretax profits of $207.6 million.
• Research and development expenses of $78.3 million.
• After-tax return on revenues of 9.7%.
• Manufacturing cash and marketable securities of $3.81 billion.
• Stockholders’ equity of $9.11 billion.

“PACCAR achieved outstanding financial results in the first quarter of 2019. Record truck deliveries and strong aftermarket parts sales delivered Truck, Parts and Other gross margins of 15.0 percent. PACCAR’s suppliers provided excellent support for PACCAR’s truck production and aftermarket parts business,” noted Preston Feight, PACCAR executive vice president.

For earnings history and earnings-related data on PACCAR (PCAR) click here.