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. (PCAR), a global leader in premium commercial vehicle manufacturing, provides investors and industry professionals with essential updates through this centralized news hub. Track official press releases, financial announcements, and strategic developments from the maker of Kenworth, Peterbilt, and DAF trucks.
This resource delivers timely updates on earnings reports, technological innovations in truck manufacturing, and strategic partnerships. Users gain access to verified information about diesel engine advancements, parts distribution updates, and financial services developments critical for market analysis.
Discover updates across key operational areas including North American truck production, European market expansions, and aftermarket support initiatives. Content spans product launches, sustainability efforts, and dealer network enhancements while adhering to factual reporting standards.
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PACCAR reported record revenues and net income of $720.4 million ($2.07 per diluted share) in Q2 2022, a 45% increase from $495.5 million ($1.42 per diluted share) in Q2 2021. Total net sales reached $7.16 billion, up from $5.84 billion. The company delivered 46,900 trucks and recorded $1.43 billion in PACCAR Parts revenues with a pretax income of $353.3 million. For the first half of 2022, net income hit $1.32 billion with cash generated from operations of $1.10 billion. PACCAR declared a quarterly dividend of $0.34 per share, payable on September 7, 2022.
PACCAR's Board of Directors has declared a $0.34 quarterly cash dividend, payable on September 7, 2022, to shareholders on record by August 17, 2022. PACCAR, traded under the symbol PCAR on the NASDAQ, is a leader in designing and manufacturing a range of trucks under the Kenworth, Peterbilt, and DAF brands, along with advanced powertrains and financial services.
PACCAR will host meetings with research analysts and institutional shareholders on June 1, 2022, starting at 9:00 a.m. Eastern time in New York, New York. The events will be accessible via a real-time Webcast at www.paccar.com and will be available for replay until June 30, 2022. PACCAR is recognized as a global leader in the design and manufacture of trucks and advanced powertrains under the Kenworth, Peterbilt, and DAF brands, alongside providing financial services and IT solutions.
PACCAR announced a quarterly cash dividend of $.34 per share, set to be paid on June 1, 2022, to shareholders who are on record by the close of business on May 11, 2022. As a leading manufacturer of trucks under the Kenworth, Peterbilt, and DAF brands, PACCAR also provides advanced powertrains, financial services, and truck parts support. The company is publicly traded on the NASDAQ under the symbol PCAR.
PACCAR reported strong financial results for Q1 2022, with revenues of $6.47 billion, up from $5.85 billion year-over-year. Net income rose by 28% to $600.5 million or $1.72 per diluted share. The company achieved record quarterly PACCAR Parts sales of $1.39 billion and profits of $340.2 million, driven by increased customer demand and efficient logistics operations. PACCAR Financial Services also saw record profits of $147.0 million. The company maintains a robust balance sheet with $12.14 billion in stockholders’ equity.
PACCAR has recognized its top suppliers through its Supplier Performance Management (SPM) program, which evaluates performance in product development, operations, and aftermarket support. The awards for 2021 were presented to suppliers achieving Master, Leader, and Achiever statuses, highlighting essential partnerships amid supply challenges. The program bolsters collaboration and innovation, contributing to PACCAR’s success in manufacturing high-quality trucks. Executives emphasize the importance of supplier commitment and investment, reinforcing PACCAR's leadership in the truck manufacturing industry.
Kenworth Truck Company has received a sizable order of 25 battery electric vehicles from AJR Trucking and MDB Transportation, marking the largest order to date for Kenworth's electric models. This includes 15 Kenworth T680E and 10 K270E vehicles aimed at reducing emissions in Los Angeles. The companies are committed to sustainability, having previously integrated natural gas trucks and aiming for net-zero emissions. They qualified for voucher incentives from the California Air Resources Board to help offset costs. This step reinforces their leadership in addressing climate change.
PACCAR reported impressive financial results for 2021, achieving revenues of $23.52 billion and net income of $1.85 billion, a significant increase from 2020. The fourth quarter alone saw revenues of $6.69 billion and net income of $511.4 million, marking a 26% rise from the previous year. The company experienced strong demand for its new Kenworth, Peterbilt, and DAF trucks, delivering 47,600 vehicles in Q4. PACCAR Parts and Financial Services also set records in revenue and profit, contributing to a strong balance sheet with $11.44 billion in stockholders’ equity.
PACCAR is showcasing its leadership in electric, connected, and autonomous vehicles at CES with three innovative models: the battery-electric Kenworth T680E, the award-winning DAF XG+, and a Peterbilt Model 579 featuring Aurora's self-driving technology. The T680E offers a range of 150 miles, optimized for urban distribution, while the DAF XG+ boasts a 10% fuel efficiency gain and advanced connectivity through PACCAR Connect. The Peterbilt 579 enhances safety and efficiency with autonomous technology, underscoring PACCAR's commitment to next-generation transport solutions.
