Press release
PACCAR Achieves Good Annual Revenues and Net Income
Strong Truck Deliveries and Aftermarket Sales Drive Results BELLEVUE, Wash.--(BUSINESS WIRE)-- “PACCAR (Nasdaq: PCAR) reported good annual revenues and
About this update from Paccar Inc.
[{"type":"text","content":"\nStrong Truck Deliveries and Aftermarket Sales Drive Results\n\n BELLEVUE, Wash.--(BUSINESS WIRE)--\n“PACCAR (Nasdaq: PCAR) reported good annual revenues and profits in 2020,” said Preston Feight, chief executive officer. “PACCAR’s results reflect the company’s premium-quality products and services, excellent operational efficiency and strong aftermarket parts sales. I am very proud of our employees who have delivered outstanding products and transportation solutions to our customers while demonstrating the highest commitment to health and safety at all PACCAR facilities.”\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210126005332/en/Peterbilt 220EV Battery Electric Truck (Photo: Business Wire)\n“PACCAR is investing in new technologies that will deliver enhanced operational efficiency and environmental benefits to our customers. PACCAR made progress on several important technology and innovation initiatives in 2020, including a strategic partnership to develop autonomous trucks, the launch of electric truck production, and enhancing connected services for Kenworth, Peterbilt and DAF trucks,” added Feight.\n\nPACCAR achieved quarterly revenues of $5.57 billion in the fourth quarter of 2020, compared to the $6.12 billion reported in the same period in 2019. The company earned $405.8 million ($1.17 per diluted share) in the fourth quarter of 2020, compared to earnings of $531.3 million ($1.53 per diluted share) in the fourth quarter of 2019. PACCAR achieved revenues of $18.73 billion in 2020, compared to revenues of $25.60 billion in 2019. The company earned $1.30 billion ($3.74 per diluted share) in 2020, compared to $2.39 billion ($6.87 per diluted share) earned in 2019.\n\nPACCAR Dividends\n\nPACCAR declared cash dividends of $1.98 per share during 2020. Dividends declared in 2020 included a $.70 per share extra cash dividend paid in January 2021. “PACCAR has generated excellent shareholder returns and annual net income due to its industry leading premium-quality global products, strong growth of aftermarket parts and services, innovative use of technology, including e-commerce, and continued expansion of its financial services,” shared Mark Pigott, executive chairman.\n\nBusiness Highlights – 2020\n\n\nPACCAR earned its 82nd consecutive year of net income.\n\n\nPA...