PACCAR Forecasts Q3 Gross Margin at 14.5% Amid Production Ramp-Up
PACCAR Inc. (NASDAQ: PCAR) reported second-quarter revenues of $7.5 billion and net income of $752 million, representing a 24% increase from the first quarter. CEO R. Feight attributed these results to production ramp-up efforts during Q2. The company also forecasted a gross margin of 14.5% for the third quarter as it continues scaling operations. PACCAR outlined its target to capture market share in the U.S. and Canada, aiming for sales of up to 250,000 trucks by 2026. This goal reflects confidence in demand recovery within the commercial vehicle sector following recent supply chain challenges.
Tickers: $PCAR
Topics: Management Commentary PACCAR Q2 Earnings