Paccar Inc

PCAR

Equity

ISIN US6937181088 / Valor 959712

NASDAQ (2024-12-24)

USD 105.18+0.46%

Paccar Inc
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About company

Paccar Inc is a global technology leader in the design, manufacture, and customer support of premium light-, medium-, and heavy-duty trucks under the Kenworth, Peterbilt, and DAF nameplates. In addition to trucks, Paccar also designs and manufactures advanced diesel engines, provides financial services, information technology, and distributes truck parts related to its principal business. Paccar Financial Services offers finance, lease, and insurance services to dealers and customers in 24 countries, with a portfolio of more than 180,000 trucks and trailers. The company operates an extensive dealer network of 2,200 locations worldwide, with approximately half of its revenues and profits generated outside the United States. Paccar Parts provides aftermarket support to dealers and customers globally, with customer call centers operating 24 hours a day and technologically advanced systems for inventory control and order processing. Additionally, Kenworth Truck Company, Peterbilt Motors, and DAF Trucks manufacture premium commercial vehicles for sale in various regions around the world.

Summarized from source with an LLMView SourceSector: Industrials

Revenue and Net Income

Paccar Inc reported revenues of $8.24 billion for the third quarter of 2024, a slight decrease from the $8.70 billion reported in the same quarter of 2023. The company achieved a net income of $972.1 million, translating to $1.85 per diluted share, compared to $1.23 billion or $2.34 per diluted share in the third quarter of the previous year.

Truck Deliveries and Parts Revenue

In the third quarter of 2024, Paccar Inc delivered 44,900 trucks globally. The company's Parts division generated revenues of $1.66 billion, marking a 5% increase from the $1.58 billion achieved in the third quarter of 2023. The Parts division also reported a pretax income of $406.7 million.

Financial Services Performance

Paccar Financial Services (PFS) reported a pretax income of $106.5 million in the third quarter of 2024, down from $133.8 million in the same period of 2023. However, PFS revenues increased to $536.1 million from $464.1 million year-over-year. The division's portfolio includes 232,000 trucks and trailers, with total assets of $22.48 billion.

First Nine Months Financial Overview

For the first nine months of 2024, Paccar Inc reported net sales and revenues of $25.76 billion, slightly down from $26.05 billion in the same period last year. The company achieved a net income of $3.29 billion, compared to $3.18 billion in the first nine months of 2023, which included a significant non-recurring charge.

Capital Investments and R&D

Paccar Inc continues to invest in its future, with capital investments estimated to be between $760-$800 million and research and development expenses projected to be between $450-$470 million for 2024. The company plans to invest further in global engine manufacturing capacity and new technologies, including a new engine remanufacturing facility in Columbus, Mississippi.

Summarized from source with an LLMView Source

Key figures

7.91%1Y

23.8%3Y

32.3%5Y

Performance

25.8%1Y

35.5%3Y

33.6%5Y

Volatility