PCAR — what changed in the latest 10-Q
A section-by-section comparison of PCAR's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-29 vs the prior 10-Q · 2026-04-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +75 | −42 | ~53 | 23 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-29
Worldwide net sales and revenues were $7.55 billion in 2026 compared to $7.51 billion in 2025.
Parts sales were $1.75 billion in 2026 compared to $1.72 billion in 2025, primarily from higher sales in Europe.
Capital investments were $138.7 million in 2026 compared to $221.1 million in 2025.
Worldwide net sales and revenues were $14.32 billion in 2026 compared to $14.95 billion in 2025, primarily due to lower truck revenues, partially offset by higher parts and financial services revenues.
Truck sales were $9.78 billion in 2026 compared to $10.47 billion in 2025, due to lower truck deliveries in all major markets except Europe.
Text removed vs the prior filing · source: 10-Q · 2026-04-29
Worldwide net sales and revenues were $6.78 billion in 2026 compared to $7.44 billion in 2025, primarily due to lower truck revenues, partially offset by higher parts and financial services revenues.
Truck sales were $4.53 billion in 2026 compared to $5.23 billion in 2025, due to lower truck deliveries in all major markets except Europe.
Net income was $605.3 million ($1.15 per diluted share) in 2026 compared to $505.1 million ($.96 per diluted share) in 2025. In 2025, adjusted net income (non-GAAP), excluding a $264.5 million after-tax charge related to civil litigation in Europe, was $769.6 million ($1.46 per diluted share). See R…
Research and development (R&D) expenses were $109.1 million in 2026 compared to $115.4 million in 2025.
Kenworth recently unveiled the new Kenworth C580 truck in the heavy-duty vocational segment. The C580 is designed to meet the most demanding vocational applications, such as mining and off-highway petroleum field work. DAF Trucks expanded its range of battery-electric trucks to include multiple axle…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice