BELLEVUE, Wash. — PACCAR achieved net income of $972.1 million ($1.85 per diluted share) in the third quarter of this year compared to $1.23 billion ($2.34 per diluted share) earned in the same period last year. Third quarter revenues were $8.24 billion, compared to $8.70 billion reported in the third quarter of 2023.
“PACCAR achieved excellent revenues and net income in the third quarter of 2024,” said Preston Feight, chief executive officer. “PACCAR’s truck and Parts operations achieved robust quarterly sales and profits due to industry-leading trucks and strong aftersales performance. PACCAR Financial Services achieved good results due to its high quality portfolio. I am very proud of our employees for producing the highest quality trucks and transportation solutions for our customers.”
According to a press release, PACCAR reported net income of $3.29 billion ($6.25 per diluted share) for the first nine months of 2024, compared to $3.18 billion ($6.07 per diluted share) earned in same period last year, which included a $446.4 million after-tax, non-recurring charge related to civil litigation in Europe. Excluding the non-recurring charge, the company earned adjusted net income (non-GAAP)1 of $3.63 billion ($6.92 per diluted share) in the first nine months of 2023. Net sales and financial services revenues for the first nine months of 2024 were $25.76 billion, compared to $26.05 billion achieved last year.
Financial Highlights – Third Quarter 2024
Highlights of PACCAR’s financial results for the third quarter of 2024 include:
- Net sales and revenues of $8.24 billion.
- Net income of $972.1 million.
- Global truck deliveries of 44,900 units.
- PACCAR Parts revenues of $1.66 billion.
- PACCAR Parts pretax income of $406.7 million.
- PACCAR Financial Services pretax income of $106.5 million.
- Cash generated from operations of $1.29 billion.
- Stockholders’ equity of $18.66 billion.
Financial Highlights – Nine Months 2024
Highlights of PACCAR’s financial results for the first nine months of 2024 include:
- Net sales and revenues of $25.76 billion.
- Net income of $3.29 billion.
- PACCAR Parts pretax income of $1.28 billion.
- PACCAR Financial Services pretax income of $331.6 million.
- Capital investments of $567.7 million and R&D expenses of $337.6 million.
- Cash generated from operations of $3.20 billion.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
