PACCAR Inc has recorded its 86th consecutive year of net income in 2024, with the company’s global operations registering US$33.16 billion in revenues and a total of US$4.16 billion in earnings.
Both metrics, while strong, are significantly down on 2023, even withstanding a US$446.4 million after-tax, non-recurring charge related to civil litigation in Europe.
In 2023 PACCAR registered US$35.13 billion in revenues and US$4.60 billion in earnings.
PACCAR President and CFO Harrie Schippers stated the company’s 2024 financial results were “the second best in company history”.
Key to the company’s global performance was its ability to deliver 185,300 vehicles worldwide and the continued strong performance of PACCAR Parts in North and South America.
PACCAR Parts accounted for a record US$6.67 billion in revenues and US$1.71 billion in pretax income.
“PACCAR reported strong annual revenues and net income in 2024,” PACCAR CEO Preston Feight says.
“PACCAR’s results reflect the enhanced profitability of the latest generation of DAF, Peterbilt and Kenworth trucks, record PACCAR Parts revenue and profit, and good financial services performance.
“I am very proud of our employees and dealers who delivered outstanding trucks and transportation solutions to our customers.”
PACCAR 2024 highlights
- 86th consecutive year of net income
- Delivery of 185,000 vehicles worldwide
- Launch of Amplify Cell Technologies – a US battery manufacturer
- DAF Trucks honoured as ‘Fleet Manufacturer of the Year’ in the UK
- 30-year anniversary of PACCAR Parts’ TRP aftermarket parts brand
- Consolidated revenues of $33.66 billion, with net income of US$4.16 billion
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