Welcome to our dedicated page for Paccar news (Ticker: PCAR), a resource for investors and traders seeking the latest updates and insights on Paccar stock.
Paccar Inc (symbol: PCAR) is a global technology leader in the design, manufacture, and customer support of premium light-, medium-, and heavy-duty trucks. Operating under renowned brands such as Kenworth, Peterbilt, and DAF, Paccar is dedicated to providing top-tier commercial vehicles across various markets. The company excels in producing advanced diesel engines and also offers financial services, information technology solutions, and distributes truck parts related to its core business.
Kenworth Truck Company specializes in building commercial vehicles for the U.S., Canada, Mexico, Australia, and for export worldwide. Similarly, Peterbilt Motors focuses on designing, manufacturing, and distributing premium vehicles across the U.S. and Canada. DAF Trucks manufactures trucks in the Netherlands, Belgium, Brazil, and the United Kingdom, catering to both Western and Eastern Europe, with exports reaching Asia, Africa, and the Americas.
Paccar parts operates an extensive network of parts distribution centers, offering aftermarket support to Kenworth, Peterbilt, and DAF dealers and customers globally. This aftermarket support ensures the longevity and reliability of Paccar vehicles, maintaining customer satisfaction and loyalty.
With a significant presence in the Class 8 market in North America, commanding about 30% market share, and a 17% share of the heavy-duty market in Europe, Paccar is a dominant player in the trucking industry. Beyond manufacturing, Paccar Financial Services provides retail and wholesale financing solutions for customers and dealers, enhancing the overall customer experience.
Recent developments include strategic partnerships and innovations in advanced diesel engines and a continuous commitment to sustainability and technological advancement. Paccar maintains a robust financial condition, ensuring continued investment in research and development to stay at the forefront of the industry. With a global network of over 2,300 independent dealers, Paccar's reach and influence in the trucking market are substantial and continually expanding.
PACCAR has declared an extra cash dividend of $3.00 per share, payable on January 8, 2025, to stockholders of record as of December 20, 2024. The company attributes this dividend to its strong performance in vehicle manufacturing, aftermarket parts, and financial services. PACCAR continues to invest in premium quality trucks under the DAF, Kenworth, and Peterbilt brands, as well as advanced powertrains and manufacturing facilities. The company maintains its position as a global technology leader in truck design, manufacture, and customer support.
PACCAR has announced a 10% increase in its regular quarterly cash dividend from $0.30 to $0.33 per share, payable on March 5, 2025, to stockholders of record as of February 12, 2025. The company has maintained a strong track record of delivering annual dividends, including regular quarterly and extra cash dividends, representing approximately 50% of net income. PACCAR's success is attributed to its leadership in premium quality vehicles, aftermarket services, and global operations through its Kenworth, Peterbilt, and DAF brands. The company's shareholder returns have consistently outperformed the S&P 500 index over the past 20 years.
Deere & Company (NYSE: DE) has appointed PACCAR CEO R. Preston Feight to its board of directors, expanding the board to 12 members. Feight, who has been PACCAR's CEO since July 2019, brings 26 years of experience from the global truck manufacturing company. His expertise spans engineering, manufacturing, aftermarket, and financial services, with a strong focus on advanced technologies including diesel, electric, and hydrogen fuel cell powertrains. Under his leadership, PACCAR has advanced in driver assistance systems and truck connectivity. Prior to becoming CEO, Feight held various leadership positions at PACCAR and previously worked at AlliedSignal and Ford.
PACCAR reported strong financial results for Q3 2024, with net income of $972.1 million ($1.85 per diluted share) on revenues of $8.24 billion. Key highlights include:
- Global truck deliveries of 44,900 units
- PACCAR Parts revenues of $1.66 billion with pretax income of $406.7 million
- PACCAR Financial Services pretax income of $106.5 million
- Cash generated from operations of $1.29 billion
The company's strong performance was attributed to industry-leading trucks and robust aftersales performance. PACCAR also showcased new truck models at the IAA Transportation show and launched new vehicle configurations for the car carrier market. The company continues to invest in research and development, with estimated expenses of $450-$470 million for 2024 and $480-$530 million for 2025.
PACCAR Inc (NASDAQ: PCAR), a global leader in truck manufacturing, has declared a regular quarterly cash dividend of $0.30 per share. The dividend is payable on December 4, 2024, to stockholders of record as of November 13, 2024. PACCAR is renowned for its high-quality light-, medium-, and heavy-duty trucks under the Kenworth, Peterbilt, and DAF brands. The company also specializes in advanced powertrains, financial services, information technology, and truck parts distribution. This dividend announcement demonstrates PACCAR's commitment to delivering value to its shareholders and reflects the company's financial stability in the competitive automotive industry.
PACCAR reported excellent revenues and net income in Q2 2024, with net income of $1.12 billion ($2.13 per diluted share) and net sales of $8.77 billion. For the first half of 2024, PACCAR achieved net income of $2.32 billion ($4.40 per diluted share) and net sales of $17.52 billion. Key highlights include:
- Global truck deliveries of 48,400 units
- PACCAR Parts revenues of $1.66 billion
- PACCAR Financial Services pretax income of $111.2 million
- Capital investments of $219.6 million and R&D expenses of $117.1 million
The company maintains a strong market position in North America and Europe, with plans for expansion and investment in new technologies and facilities.
PACCAR's Board of Directors has declared a regular quarterly cash dividend of $0.30 per share. This dividend will be payable on September 5, 2024, to shareholders who are on record by the close of business on August 15, 2024. PACCAR, a global leader in the design, manufacture, and support of high-quality trucks under brands such as Kenworth, Peterbilt, and DAF, also provides advanced powertrains, financial services, information technology, and truck parts distribution. The company's stock is traded on NASDAQ under the symbol PCAR.
Amplify Cell Technologies, a joint venture of Accelera, Daimler Trucks & Buses US Holding, and PACCAR, has started constructing a battery cell manufacturing facility in Marshall County, Mississippi.
The 500-acre site will host a 2 million sq. ft. facility with an annual production capacity of 21 GWh of lithium-iron-phosphate (LFP) battery cells. The plant aims to begin production in 2027, creating over 2,000 manufacturing jobs.
This project represents the largest payroll commitment in Mississippi's history. Partners have committed $2-3 billion to this venture. EVE Energy, a 10% stakeholder, will provide technology expertise.
The facility will help localize the battery supply chain, important for the electric commercial vehicle market in North America, and support the transition to zero-emission technologies.
Accelera by Cummins, Daimler Truck, and PACCAR have formed a joint venture named Amplify Cell Technologies to localize battery cell production in the U.S. The collaboration aims to advance zero-emissions technology for electric commercial vehicles. Amplify will build a 21 GWh factory in Marshall County, Mississippi, expected to create over 2,000 U.S. manufacturing jobs and commence operations in 2027. Kel Kearns has been appointed as CEO. Each partner owns 30% of the venture, with EVE Energy holding a 10% stake and serving as the technology partner. This initiative aligns with the partners’ goals to meet sustainability needs and contribute to the Paris Climate Agreement.
PACCAR will hold meetings with research analysts and institutional shareholders on June 5, 2024, in New York City starting at 9:00 a.m. Eastern time. These events will be available in real time via a Webcast on PACCAR's website and replays will be accessible until June 30, 2024. PACCAR is known for designing, manufacturing, and supporting high-quality light, medium, and heavy-duty trucks under the Kenworth, Peterbilt, and DAF brands. The company also specializes in advanced powertrains, financial services, information technology, and the distribution of truck parts.
FAQ
What is the current stock price of Paccar (PCAR)?
What is the market cap of Paccar (PCAR)?
What brands does Paccar Inc operate?
Where are Paccar trucks sold?
What services does Paccar Financial Services offer?
What is Paccar's market share in North America?
What aftermarket support does Paccar provide?
Where does DAF Trucks manufacture its vehicles?
What recent achievements has Paccar made?
How large is Paccar’s dealer network?
Does Paccar offer any technology solutions?