Press release
PACCAR Achieves Strong Annual Revenues and Net Income
BELLEVUE, Wash.--(BUSINESS WIRE)-- “PACCAR reported strong annual revenues and net income in 2024,” said Preston Feight, chief executive officer. “PACCAR’s
About this update from Paccar Inc.
[{"type":"text","content":" BELLEVUE, Wash.--(BUSINESS WIRE)--\n“PACCAR reported strong annual revenues and net income in 2024,” said Preston Feight, chief executive officer. “PACCAR’s results reflect the enhanced profitability of the latest generation of DAF, Peterbilt and Kenworth trucks, record PACCAR Parts revenue and profit, and good financial services performance. I am very proud of our employees and dealers who delivered outstanding trucks and transportation solutions to our customers. In 2025, PACCAR is celebrating the 120th anniversary of the company’s founding in 1905 by William Pigott.”\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250128168864/en/Peterbilt 589 Truck (Photo: Business Wire)\nPACCAR achieved quarterly revenues of $7.91 billion in the fourth quarter of 2024, compared to the $9.08 billion reported in the same period in 2023. The company earned $872.0 million ($1.66 per diluted share) in the fourth quarter of 2024, compared to $1.42 billion ($2.70 per diluted share) earned in the fourth quarter of 2023. PACCAR achieved strong revenues of $33.66 billion in 2024, compared to revenues of $35.13 billion in 2023. The company earned $4.16 billion ($7.90 per diluted share) in 2024, compared to $4.60 billion ($8.76 per diluted share) in 2023. Included in 2023 was a $446.4 million after-tax, non-recurring charge related to civil litigation in Europe.1 Harrie Schippers, president and chief financial officer, noted, “PACCAR’s financial results in 2024 were the second best in company history.”\n\n\nPACCAR Increases Regular Quarterly Dividend\n\n\nPACCAR declared cash dividends of $4.17 per share during 2024. This included a $3.00 per share year-end cash dividend paid on January 8, 2025. In December 2024, PACCAR announced a 10% increase to its regular quarterly cash dividend, to 33 cents per share, payable on March 5, 2025. “PACCAR has generated excellent financial results and shareholder returns for many years due to its premium quality vehicles, and strong performance by PACCAR Parts and PACCAR Financial Services,” shared Mark Pigott, executive chairman.\n\n\nBusiness Highlights – 2024\n\n\n\nPACCAR earned its 86th consecutive year of net income.\n\n\n\nPACCAR delivered 185,300 vehicles worldwide.\n\n\n\nPACCAR launched Amplify Cell Technologies, its U.S. battery manufacturing j...