PACCAR First Quarter Revenues and Earnings Up

PACCAR (Nasdaq:PCAR) has reported higher revenues and net income for the first quarter of 2015.

PACCAR earned $378.4 million ($1.06 per diluted share) for the first quarter of 2015, an increase of 38 percent compared to $273.9 million ($.77 per diluted share) in the first quarter last year. First quarter 2015 net sales and financial services revenues of $4.83 billion were 10 percent higher than the $4.38 billion reported for the first quarter of 2014.

Highlights of PACCAR’s financial results during the first quarter of 2015 include:

• Consolidated net sales and revenues of $4.83 billion.
• Net income of $378.4 million.
• Cash generated from operations of $476.2 million.
• Financial Services pretax income of $89.0 million. Research and development expenses of $56.2 million.
• Manufacturing cash and marketable securities of $2.71 billion. Shareholders’ equity of $6.73 billion.

The company anticipates that Class 8 truck industry retail sales for the U.S. and Canada in 2015 will be in a range of 260,000-290,000 vehicles, compared to the 250,000 vehicles sold in 2014.

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