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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“We're starting to see customers adopt. PACCAR has launched it. Daimler Trucks will launch that 15-liter natural gas this year.”
PACCAR has launched Cummins' new HELM natural gas engine platform, an early customer-adoption signal for the fuel-flexible engine family.
“In our Accelera business, we completed the formation of our joint venture, Amplify Cell Technologies with Daimler Trucks & Buses PACCAR, and EVE Energy to localize battery cell production and the battery cell supply chain in the United States.”
Cummins formed the Amplify Cell Technologies battery-cell joint venture with PACCAR (and Daimler Trucks, EVE Energy) to localize U.S. battery-cell production for electric commercial vehicles.
“they still cannot really put in orders for Freightliners or Internationals because post the February tariffs, they are not really certain what those prices are.”
An analyst notes fleet customers also cannot order competitor International (Traton) trucks amid tariff-pricing uncertainty, a competitive read-through favoring PACCAR.
“they still cannot really put in orders for Freightliners or Internationals because post the February tariffs, they are not really certain what those prices are.”
An analyst relays that fleet customers cannot yet order competitor Freightliner (Daimler Truck) trucks due to unresolved tariff pricing, a potential share-gain opening for PACCAR.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Angel Castillo | Morgan Stanley | 12 (8%) |
| Tami Zakaria | JPMorgan | 12 (8%) |
| Scott Group | Wolfe Research | 12 (25%) |
| Mike Feniger | Bank of America | 12 (17%) |
| Jerry Revich | Wells Fargo | 12 (0%) |
| Steve Volkmann | Jefferies | 11 (18%) |
| Dave Raso | Evercore ISI | 11 (0%) |
| Kyle Menges | Citigroup | 11 (27%) |
| Jamie Cook | Truist Securities | 10 (10%) |
| Steve Fisher | UBS | 10 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wolfe Research | 1 | 12 (25%) |
| JPMorgan | 1 | 12 (8%) |
| Morgan Stanley | 1 | 12 (8%) |
| UBS | 2 |
“Your partner, Aurora is very well respected obviously, within the technology industry and used your truck to go driver out this past quarter.”
PACCAR's autonomous-trucking partner Aurora ran a driver-out test on a PACCAR truck this past quarter but has since added a safety driver back, with PACCAR citing safety as the deciding factor before any driver-out production milestone.
“And my second question is on the investments for Amplify. The JV you have with Cummins and Daimler. Do you think you could revisit that -- the whole idea could be rethought at this point given the current administration shift away from BEVs.”
PACCAR's Amplify Cell Technologies battery joint venture includes Daimler alongside Cummins; management reaffirmed full commitment to the venture despite the new administration's shift away from BEVs.
“And my second question is on the investments for Amplify. The JV you have with Cummins and Daimler. Do you think you could revisit that -- the whole idea could be rethought at this point given the current administration shift away from BEVs.”
PACCAR's Amplify Cell Technologies battery joint venture includes Cummins and Daimler; management reaffirmed full commitment to the venture despite the new administration's shift away from BEVs.
| 12 (0%) |
| Wells Fargo | 1 | 12 (0%) |
| Bank of America | 1 | 12 (17%) |
| Evercore ISI | 1 | 11 (0%) |
| Citigroup | 1 | 11 (27%) |
PACCAR closed 2025 with Q4 revenues of $6.8 billion and net income of $557 million, with full-year adjusted net income of $2.64 billion. Margins were at a cycle trough with sequential improvement ahead. Strong order intake accelerated into year-end, and Parts and Financial Services posted record annual results. The local-for-local manufacturing transition was completed with near-term costs. The 2026 North American Class 8 market was forecast at 230,000-270,000 vehicles. DAF won International Truck of the Year for the third time in five years.
Demand | Pricing | Margin | Trade Tariffs | Supply Chain | Competitive Dynamics | Regulation Policy | Revenue Growth | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 8 | 6 | 1 | 4 | 4 | 4 | 2 |
| 2025Q1 | 9 | 6 | 7 | 14 | 3 | 2 | 2 | 3 |
| 2025Q2 | 14 | 3 | 3 | 6 | 5 | 3 | 2 | |
| 2025Q3 | 11 | 5 | 6 | 9 | 3 | 4 | 4 | 2 |
| 2025Q4 | 13 | 6 | 7 | 3 | 8 | 5 | 2 | 3 |
| 2026Q1 | 14 | 8 | 6 | 2 | 2 | 6 | 3 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 9 | 9 | 14 | 11 | 13 | 14 |
| Pricing | 8 | 6 | 3 | 5 | 6 | 8 |
| Margin | 6 | 7 | 3 | 6 | 7 | 6 |
| Trade Tariffs | 1 | 14 | 6 | 9 | 3 | 2 |
| Supply Chain | 4 | 3 | 5 | 3 | 8 | 2 |
| Competitive Dynamics | 4 | 2 | 4 | 5 | 6 | |
| Regulation Policy | 4 | 2 | 3 | 4 | 2 | 3 |
| Revenue Growth | 2 | 3 | 2 | 2 | 3 | 3 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PCAR Paccar | 1 | -16.2% | |
| CAT Caterpillar Inc. | 9 | +22.2% | |
| DE Deere & Company | 6 | +6.7% |