In Q1 2026, Paccar reported revenue of $6.78 billion, down 8.9% year-over-year, and net income of $605.3 million, up 19.8% driven by a prior-year after-tax litigation charge. Paccar Financial Services posted revenue of $542.2 million, a 2.7% increase versus 2025.

Executives anticipate a significant acceleration in Class 8 truck production in Q2 after a Q1 build rate of roughly 200,000 annualized units. Paccar maintained its 2026 North American Class 8 retail sales forecast of 230,000 to 270,000 trucks, with all Q2 and the majority of Q3 and Q4 build slots already filled.

Kenworth and Peterbilt combined sold 17,800 Class 8 vehicles in North America in Q1, a 19.8% decline from 22,200 a year earlier, capturing 15.5% and 14.6% market shares, respectively. Paccar aims for a 35% share of the heavy-duty market as spot and contract freight rates rise up to 20%, boosting orders across over-the-road, vocational, and less-than-truckload segments.

Gross margin rose to 13.1% in Q1 and is forecast to reach 13.5% in Q2, with further upside expected in the second half of 2026. Higher plant output is set to support manufacturing margins, though rising prices for energy, steel, aluminum, and other raw materials may offset gains.