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Paccar Inc (PCAR) shares plunge 6% on earnings miss
Generated by AI AgentAinvest Movers Radar
Tuesday, Apr 29, 2025 6:22 pm ET1min read
Paccar Inc (PCAR) shares fell 1.90% today, reaching their lowest level since November 2023, with an intraday decline of 8.03%.
Paccar Inc (PCAR) experienced a decline in share prices due to disappointing first quarter earnings results for 2025. The company reported earnings that fell short of analyst estimates, resulting in a 6% drop in share value. Specifically,
missed Wall Street's revenue expectations, with sales decreasing by 16% year over year to $6.91 billion. The missed earnings and revenue targets reflect challenges, such as decreased truck deliveries and unfavorable foreign exchange rates, impacting the company's financial performance. Despite these setbacks, PACCAR achieved record-breaking parts revenue, underscoring its strong market position and operational efficiency.
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