“PACCAR (Nasdaq:PCAR) reported good quarterly revenues and net income for the third quarter of 2012,” said Mark Pigott, chairman and chief executive officer. “PACCAR’s third quarter results reflect lower industry truck orders in North America and Europe due to the uneven global economy. PACCAR’s dealers and customers have benefited from good freight demand in North America and Europe as evidenced by strong aftermarket parts and services business and excellent PACCAR Financial Services performance. I am very proud of our 22,500 employees who have delivered industry-leading products and services to our customers worldwide.”
“PACCAR’s strong balance sheet and excellent cash flow have enabled the company to launch the broadest range of new trucks in our history,” noted Ron Armstrong, PACCAR president. “Kenworth and Peterbilt introduced their innovative, industry-leading T680 and Model 579 vehicles at the Mid-America Truck Show earlier this year. DAF unveiled its newest model, the DAF XF Euro 6 at the IAA truck show in Hannover, Germany in September. The new DAF is powered by the fuel-efficient PACCAR MX-13 Euro 6 engine. This is the most comprehensive engineering design and development program in DAF’s 84-year history.”
PACCAR earned $233.6 million ($.66 per diluted share) for the third quarter of 2012 compared to the $281.6 million ($.77 per diluted share) earned in the third quarter last year. Third quarter net sales and financial services revenues were $3.82 billion compared to $4.26 billion in 2011. For the first nine months of 2012, PACCAR reported net income of $858.1 million ($2.41 per diluted share), an increase of 20 percent compared to the $714.6 million ($1.95 per diluted share) earned in the first nine months of 2011. Net sales and financial services revenues for the first nine months of 2012 were $13.05 billion, up 13 percent compared to $11.50 billion last year.
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