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Why Paccar Stock Rolled Downhill Today

TheMotleyFool

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Why Paccar Stock Rolled Downhill Today: https://g.foolcdn.com/editorial/images/784271/tractor-trailer-truck-rolling-downhill.jpg

Paccar (NASDAQ: PCAR) stock tumbled 8.5% through 11:25 a.m. ET Tuesday after the company reported a tiny earnings miss.

Heading into earnings, analysts forecast the commercial truck manufacturer would earn $2.14 per share on $8.3 billion in sales. In fact, Paccar beat the sales figure easily with $8.8 billion in revenue reported. It fell a penny short on earnings, however: $2.13 per share.

Paccar CEO Preston Feight characterized both sales and earnings as "excellent" in Q2. This despite only one of the two metrics outperforming -- and despite earnings declining 8.6% year over year. (Sales fell 1% year over year.)

Source Fool.com

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