Paccar reports strong quarterly figures


Northern hemisphere sees total truck deliveries up, as are company-wide earnings figures

Paccar reports strong quarterly figures
Paccar truck deliveries are up on 2014.

 

Trucking giant Paccar has released its second-best quarter figures in its 110-year history, recording strong revenue and movement numbers in the September quarter.

The manufacturer increased earnings by 16 per cent to US$431.2 million (AU$599.93m) for the 2015 quarter, seeing an 8.9 per cent after-tax return on revenue and a rise in truck deliveries.

"Paccar’s third quarter results reflect the benefits of increased truck sales in North America and Europe, and excellent aftermarket parts and financial services results worldwide," CEO Ron Armstrong says.

"I am very proud of our 24,500 employees who have delivered outstanding results to our shareholders and customers."

However, net sales and financial services for the September quarter did dip slightly to US$4.85 billion (A$6.75b), a 1.7 per cent decrease on the same period in 2014.

In ongoing results, the company’s net income of US$1.26 billion (A$1.75b) over the past nine-month period shows a sizeable gap over 2014, sitting 31 per cent above the US$964.5 million (A$1.34b) figure at this stage last year.

Also up on 2014, net sales and financial services revenue over the nine months sits at US$14.76 billion (A$20.54b) compared to US$13.88 billion (A$19.31b) previously.

Paccar subsidiary Paccar Parts reported a revenue decrease for the September period of US$778 million (A$1.08b), down from US$784.2 million (A$1.09b) in 2014, despite a 14 per cent pre-tax income increase on last year.

The division did, however, achieve a pre-tax profit figure of US$430 million (A$798.27m) over the nine month period, 17 per cent increase on last year and a new record.

Truck deliveries were up across the board for Paccar in its biggest markets during the September quarter and the year so far.

Total deliveries in the quarter rose from 37,300 to 39,400, and increased from 102,800 to 119,300 for the nine months of 2015.

Compared with 2014, the third quarter saw an additional 700 vehicle sold in the US and Canada, and a 1,900 increase across Europe.

However, in all other parts of the world, numbers are down throughout the year and in recent months.

The quarter figures dropped by 500 vehicles and the ongoing numbers sit 1,300 trucks below this time last year.

 

 

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