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
TheStreet Open House

PACCAR Parts New 280,000-Square-Foot Distribution Center In Eindhoven, The Netherlands (Photo: Business Wire)

“PACCAR (Nasdaq:PCAR) reported record annual revenues of $17.12 billion and net income of $1.17 billion for 2013. PACCAR achieved the third best annual net profit in the company’s history and the 75th consecutive year of net income,” said Mark Pigott, chairman and chief executive officer. “PACCAR’s financial results reflect the company’s premium-quality products and services, improved European truck deliveries, excellent aftermarket parts revenues and record PACCAR Financial Services business. I am very proud of our 22,000 employees who have delivered outstanding performance to our shareholders and customers.”

The New DAF Assembly Facility in Ponta Grossa, Brasil, opened in 2013 (Photo: Business Wire)

The New DAF Assembly Facility in Ponta Grossa, Brasil, opened in 2013 (Photo: Business Wire)

“PACCAR’s excellent balance sheet and operating cash flow of $2.38 billion in 2013 enabled the company to expand into Brasil and invest in all facets of the business,” said Ron Armstrong, president. “In 2013, PACCAR launched a new range of vocational trucks; the Kenworth T880, the Peterbilt Model 567 and the DAF CF and LF Euro 6 models. PACCAR expanded its family of engines with the introduction of higher horsepower ratings for the PACCAR MX-13 engine and the new PACCAR MX-11 engine,” added Armstrong. “PACCAR Parts extended its global network of parts distribution centers, which resulted in record annual parts revenues, and PACCAR Financial earned record annual pretax profits.”

Record Revenues, Higher Net Income and Dividends

PACCAR achieved record revenues of $17.12 billion in 2013 compared to revenues of $17.05 billion in 2012. PACCAR reported net income of $1.17 billion in 2013 compared to $1.11 billion earned last year. PACCAR’s 2013 earnings per diluted share (EPS) of $3.30 increased by six percent versus 2012 EPS of $3.12. Fourth quarter 2013 net sales and financial service revenues were $4.60 billion, a 15 percent increase compared to $3.99 billion for the comparable period in 2012. PACCAR earned $334.2 million ($.94 per diluted share) for the fourth quarter of 2013, a 32 percent increase versus the $253.5 million ($.72 per diluted share) in the fourth quarter of 2012. Shareholders’ equity was a record $6.63 billion at December 31, 2013.

1 of 7

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 17,031.14 +43.63 0.26%
S&P 500 1,984.13 -1.41 -0.07%
NASDAQ 4,518.9020 -48.6960 -1.07%

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