PACCAR Announces Increased Second Quarter Revenues and Earnings
DAF Euro 6 CF Four-Axle Truck
PACCAR (Nasdaq:PCAR) has reported increased revenues and net income for the second quarter of 2014,” said Ron Armstrong, chief executive officer.
“PACCAR’s second quarter results reflect the benefits of improving truck sales in the U.S. and Canada and strong aftermarket parts and financial services results worldwide,” he added.
PACCAR earned $319.2 million ($.90 per diluted share) for the second quarter of 2014, an increase of 9 percent compared to $291.6 million ($.82 per diluted share) earned in the second quarter of 2013. Second quarter net sales and financial services revenues were $4.57 billion, a 6 percent increase compared to $4.30 billion in the second quarter of 2013.
For the first six months of 2014, PACCAR reported net income of $593.1 million ($1.67 per diluted share) compared to $527.7 million ($1.49 per diluted share) in 2013, an increase of 12 percent. Net sales and financial services revenues for the first six months of 2014 were $8.95 billion, 9 percent higher than the $8.22 billion last year.
The company further noted, “PACCAR’s strong balance sheet and positive cash flows have enabled the company to invest over $2.1 billion in new products and services over the last three years.”
Category: General Update
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