This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The DAF CF Earned The U.K. Fleet Truck Of The Year Award For 2012 (Photo: Business Wire)

“PACCAR (Nasdaq:PCAR) reported increased revenues and net income for the second quarter of 2012,” said Mark Pigott, chairman and chief executive officer. “PACCAR’s second quarter results reflect the benefits of higher truck sales in North and South America and good financial services results worldwide as compared to the second quarter of 2011. The weak economic growth in the United States, coupled with the ongoing uncertainty in the Eurozone, could dampen truck orders for the remainder of 2012. I am very proud of our 23,000 employees who have delivered excellent results to our shareholders and customers.”

Kenworth T800 LNG  (Photo: Business Wire)

Kenworth T800 LNG (Photo: Business Wire)

“PACCAR’s strong balance sheet and consistent profitability have enabled ongoing investments which enhance PACCAR’s global operations, deliver excellent operating efficiency and support the development of innovative new products. During the second quarter, Kenworth and Peterbilt began production of their new T680 and Model 579 trucks, and DAF showcased its new PACCAR MX 13-liter Euro 6 engine. These investments will contribute to the company’s long-term growth,” said Pigott.

PACCAR earned $297.2 million ($0.83 per diluted share) for the second quarter of 2012, a 24 percent increase compared to $239.7 million ($0.65 per diluted share) earned in the second quarter last year. Second quarter net sales and financial services revenues were $4.46 billion, compared to $3.96 billion reported in 2011. Net sales and financial services revenues for the first six months of 2012 were $9.23 billion, up 27 percent compared to $7.24 billion last year. For the first six months of 2012, PACCAR reported net income of $624.5 million ($1.75 per diluted share), an increase of 44 percent compared to the $433.0 million ($1.18 per diluted share) in 2011.

Stock Repurchase Update

During the second quarter of 2012, PACCAR repurchased 3.2 million of its common shares for $123.9 million. “Over the past twelve months, PACCAR has purchased 12.8 million PACCAR shares for a total investment of $477.1 million,” noted Ron Armstrong, PACCAR president. “PACCAR’s excellent net profits and strong cash flow make the company’s shares an attractive long-term investment.” PACCAR’s shareholder return averaged 14.9 percent annually in the last ten years, compared to the S&P 500 Index average annual return of 5.3 percent for the same period.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,845.36 -66.75 -0.39%
S&P 500 1,966.02 -3.93 -0.20%
NASDAQ 4,453.1660 +10.4680 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs