Paccar (PCAR), the commercial truck company, is accelerating on the back of record Q1 revenues. PCAR closed Wednesday's session at 5% below the buy point of an early-stage flat market after Paccar reported 96% growth in earnings on April 25.
The production version of Tesla Semi, a Class 8 all-electric long-hauler is still largely unknown. Tesla has delivered a fleet of Tesla Semi trucks, including a brand new model to PepsiCo.
Paccar presented connected and autonomous trucks at CES 2022. Three vehicles were showcased by the company that owns Kenworth, Peterbilt, and DAF.
The Paccar battery charger was on display, as well as the battery-electric Kenworth T680E. The DAF XG+, recently named the International Truck of the Year for 2022 by the International Truck of the Year Awards Committee, displayed its most advanced connected services. Paccar also displayed the Peterbilt Model 57, which is equipped with Aurora Innovation's (AUR) self-driving technology.
Paccar continues to grow with its fleet of medium, heavy and light-duty trucks, while displaying these new trucks.
Paccar accelerates earnings and sales growth
Paccar will generate $28,8 billion in revenue by 2022 with heavyweight brands like Kenworth, Peterbilt, and DAF. Paccar's sales grew by 32% in the first quarter this year to $8 billion. Tesla's Q1 sales were only $23.3 billion.
Paccar's top and bottom lines grew at a rapid pace in the first quarter. Wall Street predicts that earnings will increase by 47% next quarter and EPS will grow 32% for the year.
Paccar will produce 1.6 million trucks between 2013 and 2022. This includes 185,900 trucks last year.
Paccar is not only a truck manufacturer, but also a designer and manufacturer of advanced diesel engines. It offers financial services, and distributes truck components related to the core business.
A dealer network of over 2,200 locations allows the truck giant to provide products and services around the world.
Paccar Global has a dealer network that spans more than 100 countries. It continues to grow in Asia. About half of the company's sales and profits come from outside the U.S.
Current Demand: PCAR Stock vs. TSLA stock
PCAR has shown signs of recent institutional demand. While Paccar stock did not make the list of best mutual fund's new purchases this month, it was included on TSLA.
Paccar sports a B+ Accumulation/Distribution Rating and a 1.5 up/down volume ratio. As its slide continues, Tesla stock metrics have dropped to a D+ Accumulation/Distribution Rating and an 0.8 up/down volume ratio.
Paccar's rating of B+ indicates that there was heavy buying in this period. The ratio of up/down trading volume covers 50 days, and is calculated by dividing the total volume during up days by the total volume during down days. The TSLA stock is now below the 1.0 threshold.
PCAR's stock soared in massive volume both before and after the Q1 earnings report. As the Nasdaq struggled for traction on Wednesday, Paccar reversed from its highs and closed near the bottom. The volume of trade was higher than average but lower than the previous three days. PCAR closed the session at 76.82, 5% below its buy point.
TSLA continued to fall, dropping more than 4%. This puts it on track for a fourth consecutive week of declines.