MENU
SEARCHPeterbilt and Kenworth parent, Paccar, reported increased revenues and net income for the second quarter of 2014.
Peterbilt and Kenworth parent, Paccar, reported increased revenues and net income for the second quarter of 2014.
Paccar earned $319.2 million, or 90 cents per diluted share, for the period, an increase of 9% compared to $291.6 million, or 82 cents per diluted share, earned in the second quarter of 2013.
Second quarter net sales and financial services revenues were $4.57 billion, a 6% increase compared to the second quarter of 2013.
For the first six months of 2014, Paccar reported net income of $593.1 million, or $1.67 per diluted share, compared to $527.7 million, or $1.49 per diluted share, in 2013, an increase of 12%.
Net sales and financial services revenues for the first six months of 2014 were $8.95 billion, 9% higher than last year.
“Class 8 industry retail sales for the U.S. and Canada in 2014 are improving and are expected to be in the range of 230,000 to 250,000 vehicles,” said Dan Sobic, Paccar executive vice president. “Truck demand is being driven primarily by the ongoing replacement of the aging truck population, economic growth and some expansion of fleet capacity."
Paccar Parts generated record quarterly revenues of $778 million in the second quarter of 2014, a 10% increase compared to $709.5 million of revenues achieved in the second quarter of 2013. Second quarter 2014 pretax income was $126.7 million, an increase of 16% compared to the $109.4 million earned in the second quarter of 2013.
Paccar Parts is planning to begin construction of a new 176,000 square-foot distribution center in Renton, Wash. in the fourth quarter 2014.
“This new facility will more than double the distribution capacity for our dealers and customers in northwestern United States and western Canada,” said Tony McQuary, Paccar Parts assistant general manager.
Paccar Financial Services second quarter pretax income in 2014 improved to a record $91.7 million compared to $81.5 million earned in the second quarter of 2013. Second quarter 2014 revenues were $302.6 million compared to $288.8 million in the same quarter of 2013.
There is more information about Paccar’s financial performance on the company website.
Volvo Autonomous Solutions and Aurora expand their freight network with a new Dallas–Oklahoma City route, moving closer to scaled driverless operations.
Read More →
Westport and Volvo are demonstrating a 500-hp truck with diesel-like efficiency — one that also offers what Westport says is a better pathway to using hydrogen fuel in trucks.
Read More →
Hirschbach and Aurora Innovation have inked a non-binding deal outlining a path to deploy 500 Aurora Driver-powered trucks into fleet operations.
Read More →
New sensor integrations and component validation signal a shift from strategy to execution as Kodiak and Bosch push toward high-volume driverless truck deployment.
Read More →
The evolution of the modern truck was a long, slow affair. But perhaps no other company did more to establish the template for what a modern truck should be, and how it should perform, than REO.
Read More →
Western Star has expanded its operator-focused Star Nation competition and outreach to spotlight skill, attract new drivers, and strengthen industry ties.
Read More →
The all-new Volvo VNR is jam-packed with advanced safety features. Join HDT for a first-hand look at how Volvo is keeping drivers safer and productive on the road.
Read More →
At Volvo’s New River Valley customer center, the all-new VNR proves that maneuverability, safety, and driver confidence can coexist in a regional-haul workhorse.
Read More →
March trailer orders posted an unexpected monthly jump, but demand still trails historical norms as fleets prioritize power units over trailing equipment.
Read More →
A new autonomous truck startup company is targeting yard, port, and short-haul freight with a lighter, fully autonomous platform designed for dock-to-dock moves.
Read More →
