PACCAR Inc. (NASDAQ:PCAR) shares surged after reporting Q2 earnings above analyst expectations, despite slightly missing sales estimates and a decrease in overall revenues. Earnings per share were $1.37, beating the $1.34 consensus estimate. Total sales and financial services revenues were $7.51 billion, down from $8.77 billion in Q2 2024.

Investment income for the quarter dropped to $83.9 million from $95.8 million last year. CEO Preston Feight highlighted investments in new trucks, manufacturing, and technology-driven solutions for growth. The company ended the quarter with $8.279 billion in cash and marketable securities, down from $9.649 billion at the end of 2024.

Feight noted challenges in the North American truck market due to economic conditions, tariffs, and a soft truckload market. However, demand remains strong in segments like less-than-truckload and construction. PCAR stock has declined over 11% in the past year, with investors able to access it through iShares Trust iShares U.S. Manufacturing ETF (NYSE:MADE).

PCAR shares were up 4.65% to $97.19 at the last check on Tuesday. The company remains optimistic about growth despite market challenges.

Read more at Yahoo Finance: PACCAR CEO Optimistic About Growth Despite Soft Truckload Market, Tariff Concerns