Press release
PACCAR Achieves Good Quarterly Revenues and Earnings
Record PACCAR Parts and PACCAR Financial Profits Drive Results BELLEVUE, Wash.--(BUSINESS WIRE)-- “PACCAR reported good revenues and net income for the third
About this update from Paccar Inc.
[{"type":"text","content":"\nRecord PACCAR Parts and PACCAR Financial Profits Drive Results\n\n BELLEVUE, Wash.--(BUSINESS WIRE)--\n“PACCAR reported good revenues and net income for the third quarter of 2021,” said Preston Feight, chief executive officer. “PACCAR’s third quarter results reflect PACCAR Parts and PACCAR Financial Services record profits. Customer demand for the new Kenworth, Peterbilt and DAF trucks introduced this year is very strong. Kenworth, Peterbilt and DAF delivered 32,800 trucks in the third quarter even as the ongoing industry-wide undersupply of semiconductors reduced PACCAR’s truck deliveries by approximately 7,000 vehicles. PACCAR expects global truck production to improve as supply chain deliveries are resolved. I am very proud of our employees for delivering the highest quality products and services to our customers.”\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211026005374/en/Peterbilt 579 Truck (Photo: Business Wire)\nPACCAR achieved net income of $377.7 million ($1.08 per diluted share) in the third quarter of this year, compared to $385.5 million ($1.11 per diluted share) earned in the same period last year. Third quarter revenues were $5.15 billion, compared to $4.94 billion reported in the third quarter of 2020. PACCAR earned $1,340.7 million ($3.85 per diluted share) for the first nine months of 2021 compared to $892.6 million ($2.57 per diluted share) in the same period last year. Net revenues for the first nine months of 2021 were $16.84 billion compared to $13.16 billion last year.\n\nFinancial Highlights – Third Quarter 2021\n\nHighlights of PACCAR’s financial results for the third quarter of 2021 include:\n\n\nNet sales and revenues of $5.15 billion.\n\n\nNet income of $377.7 million.\n\n\nGlobal truck deliveries of 32,800 units.\n\n\nRecord PACCAR Parts revenues of $1.26 billion.\n\n\nRecord PACCAR Parts pretax income of $280.8 million.\n\n\nRecord Financial Services pretax income of $120.1 million.\n\n\nManufacturing cash and marketable securities of $3.65 billion.\n\n\nCash generated from operations of $282.5 million.\n\n\nStockholders’ equity of $11.33 billion.\n\n\nFinancial Highlights – Nine Months 2021\n\nHighlights of PACCAR’s financial results for the first nine months of 2021 include:\n\n\nNet sales and revenues of $16.84 billion.\n\n\nNet ...