Press release
PACCAR Achieves Excellent Quarterly Revenues and Profits
BELLEVUE, Wash.--(BUSINESS WIRE)-- “PACCAR achieved excellent revenues and net income in the third quarter of 2024,” said Preston Feight, chief executive
About this update from Paccar Inc.
[{"type":"text","content":" BELLEVUE, Wash.--(BUSINESS WIRE)--\n“PACCAR achieved excellent revenues and net income in the third quarter of 2024,” said Preston Feight, chief executive officer. “PACCAR’s truck and Parts operations achieved robust quarterly sales and profits due to industry-leading trucks and strong aftersales performance. PACCAR Financial Services achieved good results due to its high quality portfolio. I am very proud of our employees for producing the highest quality trucks and transportation solutions for our customers.”\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241022154137/en/DAF Trucks at the IAA Truck Show (Photo: Business Wire)\nPACCAR achieved net income of $972.1 million ($1.85 per diluted share) in the third quarter of this year compared to $1.23 billion ($2.34 per diluted share) earned in the same period last year. Third quarter revenues were $8.24 billion, compared to $8.70 billion reported in the third quarter of 2023.\n\nPACCAR reported net income of $3.29 billion ($6.25 per diluted share) for the first nine months of 2024, compared to $3.18 billion ($6.07 per diluted share) earned in same period last year, which included a $446.4 million after-tax, non-recurring charge related to civil litigation in Europe. Excluding the non-recurring charge, the company earned adjusted net income (non-GAAP)1 of $3.63 billion ($6.92 per diluted share) in the first nine months of 2023. Net sales and financial services revenues for the first nine months of 2024 were $25.76 billion, compared to $26.05 billion achieved last year.\n\nFinancial Highlights – Third Quarter 2024\n\nHighlights of PACCAR’s financial results for the third quarter of 2024 include:\n\n\nNet sales and revenues of $8.24 billion.\n\n\nNet income of $972.1 million.\n\n\nGlobal truck deliveries of 44,900 units.\n\n\nPACCAR Parts revenues of $1.66 billion.\n\n\nPACCAR Parts pretax income of $406.7 million.\n\n\nPACCAR Financial Services pretax income of $106.5 million.\n\n\nCash generated from operations of $1.29 billion.\n\n\nStockholders’ equity of $18.66 billion.\n\n\nFinancial Highlights – Nine Months 2024\n\nHighlights of PACCAR’s financial results for the first nine months of 2024 include:\n\n\nNet sales and revenues of $25.76 billion.\n\n\nNet income of $3.29 billion.\n\n\nPACCAR Parts pretax income of $...