Truck Giant Hit with 6% Decline After Earnings Report

Paccar Inc. (NASDAQ: PCAR) closed at $119.57 on the Nasdaq on the 28th, down 6.0% in a single day. Its market capitalization shrank to about $62.9 billion, erasing roughly $3.5 billion—about 4.9 trillion won—in value in just one session.

In a pre-market release of its first-quarter 2026 results that day, Paccar reported revenues of $6.78 billion and net income of $605 million. While earnings met expectations, revenues fell slightly short of consensus. North American truck sales plunged more than 13%, and truck deliveries in the U.S. and Canada declined from 22,200 units a year ago to 17,800 units, signaling a slowdown in core market demand. Investors, wary of a peak in the truck cycle and valuation pressures, drove the stock down by over 6%, analysts say.

Headquartered in Bellevue, Washington, Paccar is a leading commercial-truck manufacturer in North America and Europe, with brands that include Kenworth, Peterbilt and DAF. Beyond vehicle sales, the company operates finance and parts businesses. Listed on the Nasdaq and a component of the S&P 500, Paccar is closely watched by investors who blend scrutiny of cyclical truck markets with dividend income and cash-flow metrics.