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Why Truck Manufacturer PACCAR Shares Are Declining Today

PACCAR Inc (NASDAQ:PCAR) shares are trading lower after it reported first-quarter FY24 results. Sales of $8.74 billion, beating the consensus of $8.24 billion. PACCAR Financial Services revenues rose to $509.3 million from $423.2 million a year ago.  EPS of $2.27 beat the analyst consensus of $2.17. PACCAR invested $164.3 million in capital projects and $105.5 million in research and development expenses in the quarter.  The company held $7.73 billion in cash and marketable securities as of March 31, 2024. Operating cash flow for the quarter totaled $1.47 ...