PACCAR achieves record quarterly revenues and profits

2 MinutesBy NZ Trucking magazineMay 2, 2019

DAF Brazil Factory in Ponta Grossa, Brazil.

“PACCAR reported record revenues and net income for the first quarter of 2019,” said Ron Armstrong, chief executive officer. “PACCAR delivered a record quarterly number of trucks, driven by Kenworth, Peterbilt and DAF‘s strong market share and robust global truck demand. PACCAR Parts achieved record quarterly revenues and pre-tax profits. I am very proud of our 28,000 employees who have delivered industry-leading products and services to our customers.”

Armstrong said Paccar‘s customers are profitable and benefiting from continued economic and freight growth in North and South America and Europe, and he expects 2019 to be another excellent year for PACCAR.

“Kenworth and Peterbilt‘s 2019 build schedules are substantially full; DAF is increasing market share in the European market; and the South American above 16-tonne truck market is expected to increase approximately 25% in 2019 compared with last year.”

First quarter 2019 net sales and financial services revenues were US$6.49 billion, 15 percent higher than the US$5.65 billion earned in the first quarter of 2018. PACCAR achieved net income of US$629.0 million (US$1.81 per diluted share) in the first quarter of this year, 23 percent higher than the US$512.1 million (US$1.45 per diluted share) earned in the same period last year. “After-tax return on revenues was an impressive 9.7%,” noted Armstrong.

Highlights of PACCAR‘s financial results during the first quarter of 2019 include:

  • Record consolidated net sales and revenues of US$6.49 billion.

  • Record net income of US$629.0 million.

  • Record global truck deliveries of 51,500 units.

  • Record PACCAR Parts revenues of US$1.00 billion and pre-tax profits of US$207.6 million.

  • Research and development expenses of US$78.3 million.

  • After-tax return on revenues of 9.7%.

  • Manufacturing cash and marketable securities of US$3.81 billion.

  • Stockholders‘ equity of US$9.11 billion.