Paccar achieves good quarterly revenues and profits

Paccar achieves good quarterly revenues and profits.q1 earnings per share $1.03.q1 revenue $5.16 billion versus refinitiv ibes estimate of $4.9 billion.q1 earnings per share estimate $1.21 -- refinitiv ibes data.paccar - q1 truck deliveries were impacted by temporary closures of co's truck manufacturing facilities worldwide.paccar - q1 included higher accruals for product support costs and lower used truck results.manufacturing cash and marketable securities were $4.3 billion at march 31, co also has access to committed bank facilities of $3.0 billion.reduced 2020 capex by $100 million to range of $525 million -$575 million, lowered research and development expenses by $45 million to range of $265 million - $295 million.outlook for global economies and truck markets is weaker due to coronavirus pandemic.difficult to estimate 2020 truck industry retail sales in north america, europe and south america.
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