PACCAR achieves record quarterly revenues and excellent profits

American Fortune 500 company and commercial vehicle manufacturer, PACCAR, achieved record quarterly revenues and excellent net income in Q2 2019.

“PACCAR’s financial results reflect robust global truck demand, record PACCAR truck production, and record global aftermarket parts sales,” said PACCAR CEO, Preston Feight.

“I am very proud of our employees who have delivered outstanding trucks, powertrains and transportation solutions to our customers.

“Peterbilt and Kenworth 2019 production schedules are substantially full. Customers are ordering trucks for delivery in the first half of 2020.

“PACCAR’s 9.3 percent after-tax return on revenues is an excellent achievement,” he said.

PACCAR reportedly earned net income of $619.7 million USD ($885.7 million AUD) in the second quarter, 11 per cent higher than the $559.6 million USD ($799.8 million AUD) earned in the same period last year.

Second quarter net sales and financial services revenues were a record $6.63 billion USD ($9.47 billion AUD), compared to $5.81 billion USD ($8.3 billion AUD) achieved in the second quarter of 2018.

“PACCAR’s 9.3 per cent after-tax return on revenues is an excellent achievement,” said PACCAR President and Chief Financial Officer, Harrie Schippers.

PACCAR reported record first half net income of $1.25 billion USD ($1.78 billion AUD) in 2019, 17 per cent higher than the $1.07 billion USD ($1.5 billion AUD) earned in the first six months of last year.

Net sales and financial services revenues for the first six months of 2019 were a record $13.12 billion USD ($18.7 billion AUD), 14 per cent higher than the $11.46 billion USD ($16.3 billion AUD) achieved last year.

(Image: Kenworth T680 hydrogen fuel cell truck.)